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SK Hynix Q4 profit climbs 60.0% YOY

SK Hynix Inc. said its fourth-quarter normalized net income amounted to 1,378.82 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,424.03 won per share.

EPS increased 60.0% year over year from 861.53 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 973.45 billion won, an increase of 60.0% from 608.24 billion won in the year-earlier period.

The normalized profit margin rose to 18.2% from 13.8% in the year-earlier period.

Total revenue rose 21.3% year over year to 5.358 trillion won from 4.416 trillion won, and total operating expenses grew 11.5% year over year to 3.822 trillion won from 3.427 trillion won.

Reported net income increased 86.9% year over year to 1.627 trillion won, or 2,304.06 won per share, from 870.25 billion won, or 1,232.65 won per share.

For the year, the company's normalized net income totaled 2,825.51 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3,324.26 won.

EPS declined from 4,567.91 won in the prior year.

Normalized net income was 1.995 trillion won, a fall from 3.290 trillion won in the prior year.

Full-year total revenue decreased on an annual basis to 17.198 trillion won from 18.798 trillion won, and total operating expenses rose on an annual basis to 13.921 trillion won from 13.462 trillion won.

The company said reported net income declined year over year to 2.954 trillion won, or 4,183.81 won per share, in the full year, from 4.322 trillion won, or 6,002.00 won per share.

As of Feb. 23, US$1 was equivalent to 1,131.77 South Korean won.