Infineon Q3 2011 Revenues Above Expectations at Euro 1,043 Million
Infineon Technologies AG reported results for the third quarter of the 2011 fiscal year, ended June 30, 2011.
Infineon reported net income from continuing operations of €175 million, up from €173 million in the second quarter. Basic earnings per share from continuing operations stayed unchanged compared to the preceding quarter at €0.16 and diluted earnings per share from continuing operations increased from 0.15 to €0.16.
Income from discontinued operations, after income taxes, was €15 million for the third quarter, down from €399 million in the second quarter. Net income from discontinued operations decreased mainly as the second quarter of the 2011 fiscal year contained a non-recurring after tax gain of €378 million relating to the closing of the sale of the Wireless mobile phone business to Intel on January 31, 2011.
Net income for the group was €190 million in the third quarter, a decrease from €572 million in the previous quarter. Third quarter basic and diluted earnings per share were €0.17, down from 0.53 and €0.50, respectively, for basic and diluted earnings per share in the second quarter of 2011 fiscal year.
In order to secure further growth, Infineon decided to begin building a shell for a second 200mm clean room at its existing frontend site in Kulim, Malaysia. Infineon furthermore resolved that it will use the clean room that was purchased in May 2011 for the mass manufacturing of power devices on 300mm wafers. Until 2014 Infineon will invest around €250 million and create approximately 250 jobs in Dresden. If the market, revenue and underlying conditions develop in line with forecasts, further expansion would be possible.
