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SK hynix's net plunges 46.3 pct in Q4

All News 09:02 January 26, 2016

By Kang Yoon-seung

SEOUL, Jan. 26 (Yonhap) -- South Korean chip giant SK hynix Inc. said Tuesday its fourth-quarter profit fell 46.3 percent from a year earlier.

Net profit came to 871.3 billion won (US$727 million) in the October-December period, compared with the profit of 1.6 trillion won posted the previous year, SK hynix said in a regulatory filing.

Sales shed 14.2 percent on-year to 4.4 trillion won in the fourth quarter, and operating profit also crashed 40.7 percent to 988.8 billion won, compared with 1.6 trillion won posted last year.

For all of 2015, net profit edged up 3.1 percent to 4.3 trillion won, with its sales increasing 9.8 percent to 18.7 trillion won. Its operating performance inched up 4.4 percent to 5.2 trillion won.

Shares of SK hynix advanced 3.13 percent to 28,000 won on Monday, when the market edged up 0.74 percent. The earnings result came before the opening of the stock market.

colin@yna.co.kr
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