January 2008

Samsung Electronics and Hynix Semiconductor, the world's two largest memory chip manufacturers, have agreed to join hands to develop the next generation of semiconductors so that South Korea can stay competitive with its foreign rivals.

Under the three-stage plan A total of about 50M$ will be spent to design and build futuristic chips such as the spin-torque-transfer magnetic-random-access-memory (STT-MRAM) and various non-volatile memory devices.

For the first nine months of fiscal 2008, product sales increased 25% to $12.83 million from $10.23 million for the first nine months of fiscal 2007. Total revenue increased 22% to $14.48 million for the first nine months of fiscal 2008 from $11.90 million for the prior-year period. Net income for the nine months of fiscal 2008 was $4.93 million, or $1.04 per diluted share compared to $3.23 million, or $0.67 per diluted share, for the first nine months of fiscal 2007.