German chip maker Infineon raises yearly sales target after Q3 profit

“Infineon is now anticipating revenue growth for the 2010 fiscal year compared to the 2009 fiscal year to be a mid to high 40s percentage, up from a high 30s percentage in the previous outlook,” a company statement said.

The company also expects its operating profit margin to exceed 10 percent and raised projected investments to more than 400 million euros (US$520 million), from more than 300 million previously.

In its third quarter which ended on June 30, Infineon reported a net profit of 126 million euros, compared with a loss of 23 million one year earlier, on sales that grew to 1.2 billion euros from 761 million. After getting slammed by the global economic downturn, the German chip maker has posted a strong rebound, and has already raised forecasts several times.

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