Infineon outlook flat after bright quarter
LONDON – Infineon Technologies has issued a rather downbeat outlook for the second half of its fiscal year after posting second fiscal quarter sales revenue ahead of forecast at 986 million euro (about $1.29 billion).
The sales revenue for the second fiscal quarter, ended March 31, 2012, was 986 million euro (about $1.29 billion) up 4 percent on the previous quarter but down 1 percent on the same quarter in the previous fiscal year.
Infineon (Munich, Germany) made a net profit of 111 million euro (about $146 million) up 16 percent from the previous quarter but down from the profit of 572 million euro (about $750 million) made a year before.
"Business was better in the second quarter than expected. Three out of four segments increased revenue. Our focus on key challenges for today’s society – energy efficiency, mobility and security – is also proving its worth during difficult economic times," said Peter Bauer, CEO of Infineon Technologies AG, in a statement.
The automotive division which represents nearly half Infineon sales was the strongest sector showing 9 percent sequential growth. Chip card and security sales grew more strongly at 15 percent sequentially. Power management and multimarket components showed modest growth of 2 percent while industrial chip sales declined sequentially by 11 percent.
Infineon said the outlook for the third fiscal quarter (second calendar quarter) was broadly flat and that the outlook for full fiscal year was for a low single-digit percentage decline in sales revenue.
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