Infineon’s calendar Q4 saw revenues down 2% on Q3 at €922m for a tripled profit of €232m. The company has €1.6bn in cash, and plans to increase its capex to $700m this year.
The company says it expects full year revenue growth to be in the mid teens of per cent - a figure affected by the sale of its wireless business to Intel for $1.4bn.
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“In the first fiscal quarter, we continued with the excellent performance of the 2010 fiscal year,” said Peter Bauer, Infineon’s CEO, “going forward, we expect to grow faster than the market and see another quarter of revenue growth with consistently high margins. This confirms once again, that targeting less volatile, high-margin markets, driven by the worldwide trends towards more energy efficiency, mobility, and security is the right strategy for Infineon.”
Infineon said it was in litigation with the bankruptcy administrator of Qimonda over the issue of whether Infineon has rights to use the IP which it transferred to Qimonda when it was IPO’d.