Infineon Exceeds Consensus In Q1
Infineon Technologies (OTC: IFNNY.PK) reported its 1Q EPS at €0.06 as compared to the consensus expectations of €0.05. IFNNY.PK’s revenues for the quarter came at €941 million, exceeding the Street view of €922 million.
Infineon Technologies has forecasted that its Q2 sales will be sequentially down to flattish. However, its FY10 sales are projected to be up 20%. IFNNY.PK’s CEO has indicated that momentum in the current quarter remains good and there is the possibility of the company overshooting its sales guidance if the US dollar strengthens. The company sees its Q3 orders above average.
IFNNY.PK’s CFO commented, however, that it is too early to say if any dividend will be paid. The company can also rule out additional job cuts in the future.
The company’s shares closed at $5.48 yesterday.
