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Chipmaker SK Hynix logs small profit on FX gain

Associated Press Modified: October 24, 2012 at 12:30 am •  Published: October 24, 2012

SEOUL, South Korea (AP) — South Korean chipmaker SK Hynix reported a small net profit in the third quarter Wednesday thanks to a foreign exchange gain that partly offset lower sales of computer memory chips.

SK Hynix Inc. said it posted 2 billion won ($1.8 million) in net profit for July through September on revenue of 2.4 trillion won.

Icheon, South Korea-based Hynix is the world's second-largest maker of computer memory chips that help run multiple programs quickly. It trails behind Samsung Electronics and also competes with Micron Technology and Toshiba.

Analysts forecast an 80.8 billion won net loss, according to financial information provider FnGuide. The better-than-expected result compares with a net loss of 563 billion won a year earlier. Its quarterly revenue was 5.8 percent higher than a year earlier.

Hynix share rose 4 percent in Seoul following the earnings report.

Its third-quarter operating loss was 15 billion won compared with a 277 billion won loss a year earlier.

Hynix said increased sales of mobile chips and flash memory devices helped limit the impact from the PC industry slump.

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