Infineon Q1 revenue hits €922million
Infineon Technologies has reported Q1 2011 revenues of €922million – a year on year decline of 2%. Total sales for the first quarter remained the same with the previous quarter. Net income for Q1 was €232m, a decrease from €390m in the previous quarter.
The company expects revenues for Q2 2011 to be up slightly, in particular in the automotive sector.
Peter Bauer, pictured, ceo of Infineon Technologies, said: "In the first fiscal quarter, we continued with the excellent performance of the 2010 fiscal year. Going forward, we expect to grow faster than the market and see another quarter of revenue growth with consistently high margins. This confirms once again, that targeting less volatile, high margin markets, driven by the worldwide trends towards more energy efficiency, mobility, and security is the right strategy for Infineon."
