German chip maker Infineon raises full-year outlook

January 29, 2010
Snowflakes fall on flags with the logo of German chip maker Infineon Technologies AG in February 2009 in Munich, southern Germany. Infineon raised on Friday the outlook for its current fiscal year after booking better than expected first quarter results thanks to the economic recovery.

German semi-conductor maker Infineon raised on Friday the outlook for its current fiscal year after booking better than expected first quarter results thanks to the economic recovery.

Infineon posted a first quarter of 66 million euros (92 million dollars) in the three months that ended on December 31, compared with a loss of 404 million euros in the same period a year earlier.

Analysts polled by Dow Jones Newswires had forecast a lower profit of 43 million euros.

"We translated the general into operating results for the first quarter which exceeded our original expectations," Infineon chief executive Peter Bauer was quoted by a statement as saying.

"The automotive and industrial and multimarket segments benefited strongly from the market upswing," he noted.

Sales gained 27 percent to 941 million euros and for the full year, "we are now looking for revenue growth in excess of 20 percent," Bauer said.

Infineon had previously expected sales to increase by 10 percent or more over the current fiscal year.

Much depends however on the automotive sector, which is even more important for now that the group has ditched its loss-making unit Qimonda.

Explore further: Germany's Infineon needs state guarantees: report

Related Stories

'Collapse' in semiconductor demand hits ASML

July 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.

Semiconductor giant Infineon upgrades outlook

November 19, 2009

German semi-conductor maker Infineon on Thursday upgraded its turnover and profits forecast over the next 12 months because of higher demand from the auto industry and cost cuts.

Recommended for you

0 comments

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.