Chip maker Infineon trims loss, sees larger writedowns

Jul 29, 2009
Flags with the logo of German chip maker Infineon fly in Munich, southern Germany. Troubled German semi-conductor maker Infineon said Wednesday that it had managed to limit its quarterly loss but warned that full-year asset writedowns would be larger than expected.

Troubled German semi-conductor maker Infineon said Wednesday that it had managed to limit its quarterly loss but warned that full-year asset writedowns would be larger than expected.

Infineon said it suffered a loss of 23 million euros (33 million dollars) in its third quarter which runs from April through June but that was much better than the loss of 379 million euros in the same period a year earlier.

It said the results did not include its bankrupt memory Qimonda.

Infineon said quarterly fell 18 percent from a year earlier to 845 million euros but was up 13 percent from the three months to March.

An improved economic outlook and cost-cutting programmes were responsible for the comparatively better result, the company said, and sales were expected to pick up in the group's final quarter through to September.

Infineon warned too that annual charges for depreciation and amortization would exceed its previous forecast of 500 million euros.

The company has suffered from the collapse of component sales to the and is being restructured by a new investor, the US investment fund Appolo Global Management.

Appolo it to help Infineon come up with 725 million euros in fresh capital.

(c) 2009 AFP

Explore further: Is big data still big news?

Related Stories

'Collapse' in semiconductor demand hits ASML

Jul 15, 2009

Dutch computer chip equipment maker ASML announced net losses for the first quarter after a collapse in sales, but said it saw signs of improving market conditions.

'Collapse' in semiconductor demand hits ASML

Apr 15, 2009

Dutch computer chip equipment maker ASML on Wednesday announced net losses for the first quarter after a collapse in sales, but said it saw signs of improving market conditions.

SAP posts better-than-expected net profit

Jul 29, 2009

SAP, the German professional software giant, posted a better than expected second quarter profit on Wednesday, and said it would maintain tight cost controls for the remainder of the year.

Recommended for you

Is big data still big news?

10 hours ago

People talk about 'data being the new oil', a natural resource that companies need to exploit and refine. But is this really true or are we in the realm of hype? Mohamed Zaki explains that, while many companies ...

Amazon pushes Prime service with day of deals

Jul 06, 2015

Amazon is trying to lure more subscribers to its $99 Prime loyalty program by pushing a day of discounts it calls "Prime Day" during the sleepier summer shopping season.

Mexico City proposes regulations for Uber

Jul 04, 2015

Mexico City is proposing regulations that would allow Uber and other smartphone-based ride-sharing apps to operate, while requiring drivers and cars to be registered, the city's Office of Legal and Legislative Studies said ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.