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Thursday, November 05, 2009
Elpida Memory's Second-quarter Net Loss Narrows
By Myra P. Saefong
MarketWatch Pulse
TOKYO -- Elpida Memory Inc. on Thursday posted a smaller-than-expected net loss for the second quarter of its fiscal year, as growth in demand and higher prices for its products helped the company narrow its year-on-year loss. The dynamic random access memory maker reported a net loss of 7.2 billion yen ($79.5 million) for the quarter ended in September, compared with a year-ago net loss of 31.9 billion yen. The company was expecting to see a net loss of 8 billion yen for the second quarter, according to a forecast it provided on Oct. 15. Elpida posted net sales of 95.9 billion yen for the second quarter, down 15.6% year on year, but up 32.1% from the first quarter. Ahead of the news, shares of Elpida closed 0.6% lower in Tokyo.
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