NEUBIBERG (dpa-AFX) - Infineon Technologies AG (IFNNY), a German manufacturer of semiconductors and system solutions, reported that its net income for the first quarter decreased to 210 million euros or 0.16 euros per share from 254 million euros or 0.22 euros per share in the previous year.
'..We are also seeing signs of improvement in individual areas such as the server business. Overall, however, we do not expect to see a broad based recovery of demand before the second half of the fiscal year. Our long-term growth drivers remain intact and we are making a crucial contribution to shaping the future of mobility and energy efficiency,' said Reinhard Ploss, CEO of Infineon.
Adjusted earnings per share for the first-quarter was 0.17 euros compared to 0.24 euros last year.
Revenue for the quarter declined to 1.92 billion euros from 1.97 billion euros in the previous year.
Infineon expects revenue to grow by 5 percent, plus or minus 2 percentage points, in the second quarter of the 2020 fiscal year.
For fiscal year 2020, the company continues to expect revenue growth of 5 percent, plus or minus 2 percentage points; and a Segment Result Margin of about 16 percent at the mid-point of the revenue guidance.
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