Infineon loss narrows during Q3
Memory division back in the black
Posted in Channel, 23rd July 2003 10:25 GMT
Infineon saw sales remain flat during its third quarter, the chip maker said yesterday, which led to its ninth consecutive loss-making period.
The company lost €116 million ($131 million) on sales of €1.47 billion, the latter much the same as Q2 but 11 per cent up on the Q3 2002. It's loss narrowed 64.6 per cent year-on-year, from €328 million.
Infineon's memory business contributed €569 million worth of sales to the company's bottom line, down seven per cent on the previous quarter - the result of the weak dollar - but up four per cent on the same period last year.
Those sales yielded a profit of €2 million, reversing last quarter's €138 million loss.
Looking forward, the company said it expects profitability to increase during Q4, driven by growing memory sales, particularly of high-end DDR products. Wireless chip shipments will grow too, but price pressure will limit revenue growth. ®
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