Infineon announces Q4 sales of €942million
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German chip manufacturer Infineon has reported 4th quarter sales from continuing operations of €942million - a year on year increase of 55%, and a sequential rise of 6%. Increase in revenues reflects growth in all segments and the company expects 10% growth by 2011.
"The last quarters' excellent performance has continued in the fourth quarter across all the segments," said Peter Bauer, ceo of Infineon Technologies. "The company's growth during this upcycle remains significantly ahead of the market and our profitability has risen yet again, as evidenced by more than 18% Segment Result margin and free cash flow of €236m from continuing operations."
Infineon forecasts revenues for the first quarter of the 2011 fiscal year to be flat to down slightly compared to the fourth quarter of the 2010 fiscal year, depending on the foreign exchange rate environment. Within the expected group turnover development, automotive (ATV) revenue is expected to increase, industrial & multimarket (IMM) turnover is thought to remain about flat and chip card & security (CCS) segment sales are expected to exhibit negative seasonality.
The company anticipates growth in its ATV turnover of approximately 10% for the 2011 fiscal year, with IMM sales expected to grow at a rate exceeding the group average and CCS revenue likely to grow very slowly. Total Segment Result margin for the 2011 fiscal year is expected to be a mid to high teens percentage of sales.
