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: Netflix sues Yahoo CIO for alleged kickbacks

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

Netflix sues Yahoo CIO for alleged kickbacks

1 hour ago

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

BlackBerry courts iPhone users with cash

21 hours ago

Canadian smartphone maker BlackBerry is wooing Apple customers with a cash offer for trade-ins of iPhones for its new square-screened, keyboard-equipped Passport.

HP earnings show continued struggle

22 hours ago

Venerable tech giant Hewlett-Packard has been struggling for three years to turn its business around. Its latest earnings show it still has more work ahead.

Apple market value hits $700 bn

Nov 25, 2014

A rise in Apple shares Tuesday pushed the market value of the trend-setting US tech icon above $700 billion, becoming the first company to hit that milestone.

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.