Arab Today, arab today infineon profits down on economic uncertainty
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Arab Today, arab today
Arab Today, arab today

Infineon profits down on economic uncertainty

Arab Today, arab today

Arab Today, arab today Infineon profits down on economic uncertainty

Frankfurt - AFP

German chip maker Infineon said Wednesday that bottom-line profits were down in the three months to December on increased customer caution in the current uncertain economic environment. Infineon, which runs its business year from October to September, said in a statement it booked net profit of 96 million euros ($125 million) in the three months to December, a decline of 23 percent from the preceding three months. Revenues were down 9.0 percent quarter-on-quarter at 946 million euros. \"The decline occurred due to customer caution as a result of global economic uncertainties,\" Infineon explained. Looking ahead to the current quarter, Infineon was similarly cautious. \"With continued confidence on the part of automotive customers and some early signs of stabilisation in the chipcard and lower power markets, we expect revenues for the second quarter of the 2012 fiscal year to be flat to down slightly compared to the first quarter,\" it said.  

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