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Elpida Closes Q2

TOKYO — Elpida Memory, Inc., Japan's leading global supplier of Dynamic Random Access Memory (DRAM), today announced preliminary consolidated financial results for the first half (1H) of fiscal year 2010, which ended on September 30, 2010. The company plans to announce actual results on November 4.

Elpida's preliminary results indicate that net sales for the 1H of FY 2010 rose approximately 93% over the same period last year, to 325 billion yen. This growth was mainly due to an increase in both DRAM bit shipments and average DRAM selling prices (based on 1Gb equivalent units). Preliminary operating income of 67.5 billion yen represents a 109 billion yen improvement from last year's 41.5 billion yen losses, due in large part to manufacturing cost reductions. 1H ordinary income and net income of 52 billion yen and 39.5 billion yen, respectively, reverse year-ago losses of more than 50 billion yen in each profit category. As for the second quarter of FY 2010, net sales and profits fell QoQ due to a decline in selling prices and sharp yen appreciation. QoQ bit shipment growth for the quarter was at the lower end of the company's guidance of 5-10%.

{complink 1769|Elpida Memory Inc.}

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