Elpida Memory Inc., the nation's largest maker of computer memory chips, reported Thursday its third consecutive quarterly loss after a glut drove down prices.
The net loss was ¥13.8 billion during the business first quarter that ended June 30, compared with a profit of ¥14.6 billion a year earlier, Tokyo-based Elpida said. The loss exceeded the ¥13.2 billion median of five analysts' estimates.
The operating loss, or sales minus the cost of goods sold and administrative expenses, was ¥15.6 billion, compared with a profit of ¥3.74 billion a year earlier. Sales fell 0.2 percent to ¥109.2 billion, beating the ¥100.1 billion median estimate.
Elpida fell 2.5 percent to close at ¥3,070 on the Tokyo Stock Exchange before the results were announced. The benchmark Nikkei 225 stock average lost 1 percent.