OREANDA-NEWS. SK Hynix Inc. (or 'the Company', www.skhynix.com <http://www.skhynix.com>) today announced financial results for its fiscal year 2013 and fourth quarter ended December 31, 2013.

The Company's consolidated sales of fiscal year 2013 totaled 14.2 trillion won while operating profit amounted to 3.4 trillion won and net income was 2.9 trillion won. All of those set record highs for the Company's annual results. Operating margin for the year was 24% and net margin was 20%.

In 2013, the Company's sales of every product including DRAM, NAND Flash and CIS grew up. It was due to strengthened business competence as well as favorable market environment caused by reorganization of the market structure.

Consolidated fourth quarter revenue was3.4 trillion won decreased 18% from 4.1 trillion won of the previous quarter, due to decrease in production on account of Wuxi fab affected by a fire and the appreciation of Korean Won. Operating profit was 785 billion won with operating margin of 23% while the Company's operating margin was over 20% for 3 consecutive quarterly results. Net income for the quarter was 789 billion won.

Quarter-over-quarter, DRAM bit shipment decreased 13% but the average selling price rose 1%. The average selling price increased owing to strong PC and server DRAM prices caused by concerns over short supply.

For NAND Flash, each of the bit shipment and the average selling price dropped 14% and 5%. The average selling price declined as mobile demands slowed down.

SK Hynix will narrow the gap of supply time between PC and mobile products of 2ynm DRAM which is mass produced in a full-scale during this year and expand its mobile DRAM portfolio. For NAND Flash, SK Hynix will consolidate the portfolio of NAND application solutions by reinforcing its capability in controllers as well as mass producing 16nm in a full-scale. Plus, the Company plans to complete the development and start to provide samples of 3D NAND. Then, the Company will start the mass production of it within the year.

Please note that the financial results discussed herein are preliminary and speak only as of December 31, 2013. Readers should not assume that this information remains operative at a later time. In addition, this information may include forward-looking statements that involve a variety of risks and uncertainties that could cause actual results to differ materially. For further discussion of these risks and uncertainties, readers should refer to SK Hynix Inc.'s filings with the Korea Exchange. This document is neither an offer to sell nor a solicitation of an offer to sell any security of SK Hynix Inc..