Infineon reports 13 percent sales rise
21 April 2004 , MUNICH - German semiconductor company Infineon Technologies AG reported Wednesday a 13 percent jump in second-quarter sales.
21 April 2004
MUNICH - German semiconductor company Infineon Technologies AG reported Wednesday a 13 percent jump in second-quarter sales.
The Munich-based company said that it achieved sales revenues of EUR 1.671 billion in the second quarter of its current business year, up 13 percent from the same period last year.
At the same time, the company achieved net income of EUR 39 million in the quarter ending 31 March, compared with a loss of EUR 328 million in the same period last year, acting chief executive Max Dietrich Kley reported.
The second-quarter revenues were up 3 percent on those of the first quarter, while the net income also surpassed the EUR 34 million of the first period, Kley reported.
"In the second quarter, Infineon's business continued to develop positively," Kley said. "Business performance not only improved because of the overall strong customer demand but also because of improved productivity. By achieving this result, we have reached another milestone on our path towards profitable growth."
He said Infineon was now confident of further progress in the course of the fiscal year ending 30 September.
Infineon's total revenues for the first half of fiscal 2004 came to EUR 3.29 billion, up 13 percent from EUR 2.93 billion in the same period a year earlier.
Net income for the first half of this fiscal year, at EUR 73 million, compared to a net loss of EUR 368 million a year earlier, while earnings before interest and taxes (EBIT) reached EUR 141 million, as against an EBIT loss of EUR 250 million a year earlier.
Meanwhile Kley told the press that Infineon's search for a new CEO was going "successfully", with the field now narrowed down to two candidates. He did not identify them.
Kley took over as acting CEO on 28 March after the sudden resignation of his controversial predecessor Ulrich Schumacher amid apparent internal rifts over Infineon's strategy of outsourcing operations to sites outside Germany.
Kley said that in a best-case scenario the new chairman could take over at Infineon in early July. At the latest, the new CEO will take the reins at the start of September.
Subject: German news