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October 20, 2010, 4:35 AM EDT
By Tim Culpan
(Updates with Inotera loss in second paragraph.)
Oct. 20 (Bloomberg) -- Nanya Technology Corp., Taiwan?s second-largest memory-chip maker, posted its third consecutive quarterly loss, missing analyst estimates, after prices slumped.
The third-quarter net loss was NT$2.27 billion ($73.5 million), compared with NT$3.9 billion a year earlier, the Taoyuan, Taiwan-based company said in a statement today. The average of analyst estimates compiled by Bloomberg was for profit of NT$970 million. Inotera Memories Inc., Nanya?s venture with Micron Technology Inc., posted a loss of NT$2.6 billion.
Nanya, which last year started moving to a different production process developed by Micron, said ?lower than expected? global computer demand led to a 15 percent decline in chip prices from the second quarter. Slowing global computer demand and oversupply could force memory prices lower this quarter, according to industry researcher DRAMeXchange.
?With the coming slow season and output increase from DRAM vendors, over-supply condition will be serious,? DRAMeXchange wrote in an Oct. 15 statement. Chip prices will likely reach ?bottom? at the end of the first quarter or early second quarter, according to the statement.
Powerchip Technology Corp., Taiwan?s largest memory-chip maker, on Oct. 18 reported third-quarter net income of NT$1.94 billion, missing the NT$3.3 billion average of three analyst estimates compiled by Bloomberg.
Nanya climbed 4.8 percent to close at NT$18.75 in Taipei trading before the earnings announcement. The stock has declined 43 percent this year compared with a 0.8 percent drop for the benchmark Taiex index.
The chipmaker priced an offering of 600 million new shares at NT$16.50 each, Nanya said in an Oct. 15 filing.
--Editors: Suresh Seshadri, .
To contact the reporter on this story: Tim Culpan in Taipei at tculpan1@bloomberg.net.
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net.
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(Updates with Inotera loss in second paragraph.)
Oct. 20 (Bloomberg) -- Nanya Technology Corp., Taiwan?s second-largest memory-chip maker, posted its third consecutive quarterly loss, missing analyst estimates, after prices slumped.
The third-quarter net loss was NT$2.27 billion ($73.5 million), compared with NT$3.9 billion a year earlier, the Taoyuan, Taiwan-based company said in a statement today. The average of analyst estimates compiled by Bloomberg was for profit of NT$970 million. Inotera Memories Inc., Nanya?s venture with Micron Technology Inc., posted a loss of NT$2.6 billion.
Nanya, which last year started moving to a different production process developed by Micron, said ?lower than expected? global computer demand led to a 15 percent decline in chip prices from the second quarter. Slowing global computer demand and oversupply could force memory prices lower this quarter, according to industry researcher DRAMeXchange.
?With the coming slow season and output increase from DRAM vendors, over-supply condition will be serious,? DRAMeXchange wrote in an Oct. 15 statement. Chip prices will likely reach ?bottom? at the end of the first quarter or early second quarter, according to the statement.
Powerchip Technology Corp., Taiwan?s largest memory-chip maker, on Oct. 18 reported third-quarter net income of NT$1.94 billion, missing the NT$3.3 billion average of three analyst estimates compiled by Bloomberg.
Nanya climbed 4.8 percent to close at NT$18.75 in Taipei trading before the earnings announcement. The stock has declined 43 percent this year compared with a 0.8 percent drop for the benchmark Taiex index.
The chipmaker priced an offering of 600 million new shares at NT$16.50 each, Nanya said in an Oct. 15 filing.
--Editors: Suresh Seshadri, .
To contact the reporter on this story: Tim Culpan in Taipei at tculpan1@bloomberg.net.
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net.
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