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ots Ad hoc-Service: Infineon Technologies AG
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München (ots Ad hoc-Service) - Infineon reports record earnings
and record sales for the second quarter and first six months of its
2000 financial year
Infineon Technologies AG, Munich, Germany, (FSE/NYSE: IFX), listed on the Frankfurt and New York stock exchanges since March 13, announced its key business figures for its second quarter, ended March 31, and the first six months of its 2000 financial year.
Infineon's sales increased by 57 percent to EUR 1.53 billion in the three months ended March 31 compared with EUR 977 million for that period last year. EBIT (Earnings Before Interest, Minority Interest and Taxes) grew significantly from EUR 8 million in the second quarter of 1999 to EUR 253 million in the second quarter of 2000. In the second quarter, the consolidated net income came to EUR 146 million, compared with EUR 23 million in the same period in the previous year. Thus the quarterly earnings per share amounted to EUR 0.24, compared with EUR 0.04 for the same period last year.
For the first six months of the 2000 financial year, Infineon recorded a sales increase of 68 percent to EUR 3.07 billion compared with EUR 1.83 billion for the same period last year. EBIT for the first six months of the 2000 financial year amounted to EUR +497 million compared to EUR -46 million for the first six months of the 1999 financial year. In the first half of the 2000 financial year, the consolidated net income came to EUR 279 million, compared with a net loss of EUR 6 million through March 31, 1999. Thus the half year earnings per share amounted to EUR 0,46 compared with EUR 0,01 for the same period last year.
"With these record earnings, we deliver convincing proof that we are consistently implementing our strategy of profitable growth in the logic and DRAM business", commented Dr. Ulrich Schumacher, President & CEO of Infineon Technologies AG. "Our stronger focus on the rapidly expanding market segments of communications and the Internet as well as our partnership with approximately 40 key account clients throughout the world have led to a considerable improvement in the profit margin", explained Schumacher.
As in previous years, Infineon expects to report sales exceeding average market growth figures in the current fiscal year as well, primarily as a result of the expansion of its prodution capacities. As the situation looks today, Infineon believes that the development of earnings will remain positive in fiscal 2000 with the continued expansion of the semiconductor market.
"On the basis of our strong position in terms of technology and cost effectiveness, we expect to benefit from the outstanding situation on the semiconductor market overproportionally. Our flexibility as an enterprise listed on the stock exchange also provides us with additional business options to increase our success, through acquisitions or cooperations, for example", said Schumacher.
Further information at www.infineon.com
"Safe Harbor" Statement:
This discussion includes forward-looking statements about our future business. These forward-looking statements are subject to a number of uncertainties, including trends in demand and prices for semiconductors generally and for our products in particular, the receipt of all necessary approvals for our planned transactions, the success of our development efforts, both alone and with our parners, the success of our efforts to introduce new production processes at our facilities and the actions of our competitors, as well as the other factors mentioned herein. As a result, our actual results could differ materially from those contained in the forward-looking statements.
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Original-Content von: Infineon Technologies AG, übermittelt durch news aktuell