Taoyuan, Taiwan (R.O.C.), October 27th, 2015 - Inotera Memories, Inc. (TWSE: 3474) today announced consolidated sales revenues of NTD 14,490 million, net income of NTD 5,774 million and earnings per share of NTD 0.88 based on weighted average outstanding shares of 6,559 million for the third quarter ended September 30th, 2015. Gross margin for the quarter was 28%, operating margin was 26%, and net margin was 40%. All numbers are un-audited.

The 11% decrease in sales quarter-on-quarter was mainly due to a sequential decline in average selling prices in the market place and a slight decline in wafer shipments. Bit shipments in the third quarter were slightly down by 2.9% quarter-on-quarter, which is in line with the company's previous guidance. The company expects its bit shipments to increase by single digit for the fourth quarter.

In accordance with previously communicated plans, Inotera will be on track to convert about 80% of its total wafer-start capacity to 20nm technology by the end of this year. With a rapid ramp on the way, the company continues to see an increasing portion of 20nm output and expects its bit growth rate in the double-digit range for the first quarter of 2016. 20nm full conversion is anticipated by the end of second quarter of 2016.

About Inotera
Inotera Memories, Inc. was incorporated on January 23rd, 2003. Inotera's production facilities are designed to manufacture high-density and high-performance DRAM（Dynamic Random Access Memory）products using state-of-the-art technology. The combination of world-leading technology transferred from its technology partner and local cost-efficiency in mass production has resulted in an innovative company that is highly productive, highly competitive and at the leading edge in the DRAM industry. For more information, please visit Inotera's IR Website：http://ir.inotera.com


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Spokesperson Charles Kau, Chairman

Press Contact Ivy Hung, IR / PR Department
Tel. 03-327-2988 Ext. 3371 E-mail：ivyhung@inotera.com

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