Tuesday, November 9, 2004
Infineon Technologies AG reported a 4 percent sequential increase in revenues during its fourth quarter, saying the increase reflected gains in most segments except memory.
Fourth quarter revenues totaled 1.99 billion euros ($245 billion) while net income was down 56 million euros ($72.2 million) from the previous quarter to 44 million euros ($56.7 million).
For the entire fiscal year, Infineon, based here, said revenues rose 17 percent year-on-year to 7.19 billion euros ($9.27 billion). It cited strength in all sectors except wireline communications.
"We were able to strongly increase revenues and operating cash flow during the last fiscal year but are not satisfied with the earnings," Infineon CEO and President Wolfgang Ziebart said in a statement.
Ziebart said the chip maker will seek to control costs in the year ahead. Infineon achieved what it said were significant manufacturing cost reductions during the fiscal year despite charges totaling 209 million euros ($269.6 million in connection with U.S. and European antitrust investigations of DRAM price fixing.
Infineon agreed in September to pay a $160 million fine to settle the U.S. DRAM price-fixing case.
By: DocMemory
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