Infineon Technologies AG's revenues in the first quarter of the 2010 fiscal year, ended December 31, 2009, were Euro941 million, a strong increase of 10 percent compared to the fourth quarter of the 2009 fiscal year and of 27 percent year-over-year. Infineon’s first quarter combined Segment Result was Euro88 million, a significant improvement compared to Euro52 million in the prior quarter. Net income for the first quarter was Euro66 million compared to Euro14 million in the prior quarter.
For 2Q10, Infineon expects revenues to be approximately on the same level or, due to seasonality, down slightly compared to the first quarter. Second quarter combined Segment Result margin should be a high single-digit percentage.
For the 2010 fiscal year as a whole, Infineon is raising its guidance and is now anticipating growth in revenues in excess of 20 percent compared with the 2009 fiscal year, with a high single-digit combined Segment Result margin.
“Thanks to leadership positions in our target markets, we translated the general economic recovery into operating results for the first quarter which exceeded our original expectations. The Automotive and Industrial & Multimarket segments benefited strongly from the market upswing,” said Peter Bauer, CEO, Infineon Technologies AG. “Although uncertainties in the worldwide economy remain regarding developments in the second half of this fiscal year, we are raising our guidance for the full 2010 fiscal year. We are now looking for revenue growth in excess of 20 percent with a high single-digit combined Segment Result margin.” Previously, the company expected revenue growth of ten percent or more with mid single-digit combined Segment Result margin.
The sequential increase in revenues of ten percent in the first quarter reflects growth in the company’s Automotive (ATV), Industrial & Multimarket (IMM) and Wireless Solutions (WLS) segments, mostly driven by the economic recovery and improved demand in the supply chain as well as at end customers.
Infineon
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