Revived Infineon raises full-year targets

Feb 01, 2011

German semi-conductor company Infineon raised on Tuesday its 2011 sales and profit margin targets after posting a more than three-fold increase in net profit for the first quarter of its fiscal year.

A statement issued by the newly revived said it now expected sales to gain around 15 percent, compared with a previous forecast of 10 percent.

The group's 2010/2011 is estimated at close to 20 percent, up from the previous range of 15-20 percent.

In the first three months of the year that began on October 1, Infineon rang up 922 million euros ($1.3 billion) in sales, a leap of 34 percent from the same period a year earlier.

The group's profit margin came to 19.2 percent.

Close to two years ago, Infineon has gone through a severe period of restructuring and has also benefitted from the global economic rebound via stronger sales of its computer products to the automobile industry.

Sales at the auto division jumped by an annualised 27 percent in the first quarter to 354 million euros.

Infineon's main industrial division posted an even better result however, with sales soaring by 51 percent to 423 million euros.

Explore further: Struggling BlackBerry announces new round of layoffs

Related Stories

Semiconductor giant Infineon upgrades outlook

Nov 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

Uber drivers fined in Hungary

9 hours ago

The Hungarian tax authority fined Uber drivers in its first probe against the ride-sharing service which the economy ministry said Saturday "ignores passenger safety" and must be made to follow regulations.

Domino's taking orders via tweet

May 22, 2015

Domino's on Wednesday launched perhaps the easiest way to satisfy a pizza craving this side of mind reading: order by tweet.

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.