Infineon says Q1 2014 earnings better than expected
Infineon has just announced its results for the first quarter of 2014.
“Infineon has made a good start into the new fiscal year,” Reinhard Ploss, CEO of Infineon Technologies said. “Earnings were better than expected, benefittingfrom the efficiency measures undertaken at our manufacturing facilities. Good order intake and positive forecasts for the global economy underpin our outlook: Infineon is poisted to profitably grow in 2014.”
Specifically, the company has reported revenue for the period reached €984 million, though revenue for the quarter was 7% lower than the fourth quarter of the previous fiscal year.
The gross cash position at the end of the first quarter of the 2014 fiscal year, at €2,279 million, was almost unchanged from the €2,286 million recorded at the end of September 2013, the company says.
For the rest of the 2014 fiscal year, Infineon is anticipating an increase in revenue of between 7 and 11 percent.
Reported previously in BiometricUpdate.com, Infineon recently announced that its security controllers have been selected for the deployment of eID cards in the Slovak Republic.
The company also recently announced a partnership with Oracle to provide smart card solutions for the development of government applications.