Weak sales hurt Infineon third-quarter performance

Infineon, which runs its business year from October to September, complained that “growth and margin are currently below plan, reflecting global uncertainties.”

Bottom-line net profit amounted to 82 million euros (US$100 million) in the period from April to June, a drop of 26 percent from the preceding three months and a drop of 57 percent year-on-year, it said in a statement.

Third-quarter revenues stood at 990 million euros, unchanged from the preceding quarter and a decline of 5 percent from the same period a year earlier.

On the basis of its third-quarter performance, Infineon said it was projecting a decline of around 3 percent in full-year revenues.

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