German chip maker Infineon raises yearly sales target

Jul 28, 2010

The German chip maker Infineon raised on Wednesday its annual sales target after swinging into profit in the third quarter of its 2010 fiscal year.

"Infineon is now anticipating revenue growth for the 2010 compared to the 2009 fiscal year to be a mid to high 40's percentage, up from a high 30's percentage in the previous outlook," a company statement said.

The company also expects its operating profit margin to exceed 10 percent and raised projected investments to more than 400 million euros (520 million dollars), from more than 300 million previously.

In its third quarter which ended on June 30, Infineon reported a of 126 million euros, compared with a loss of 23 million one year earlier, on sales that grew to 1.2 billion euros from 761 million.

After getting slammed by the global , the German has posted a strong rebound, and has already raised forecasts several times.

In the three months to the end of June, it benefitted from "strong demand in all of the company's operating segments" and a stronger dollar, which together contributed five percentage points to the 17 percent rise in quarterly sales.

Explore further: Microsoft sues Samsung alleging contract breach

add to favorites email to friend print save as pdf

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

Microsoft sues Samsung alleging contract breach

6 hours ago

Microsoft on Friday sued Samsung in federal court claiming the South Korean giant had breached a contract over cross-license technology used in the fiercely competitive smartphone market.

Apple closes acquisition of Beats music

13 hours ago

Apple said Friday it closed its $3 billion deal for Beats, the high-end audio equipment and streaming music service, a tie-up that could allow the iPhone maker to reach new audiences.

User comments : 0