Infineon Q1 Net Profit Rises

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Infineon Technologies AGIFNNY
reported a rise in its first-quarter net profit. Infineon's quarterly net profit surged to 136 million euros, from a year-ago profit of EUR87 million. Earnings per share jumped to 0.12 euro from 0.08 euro. Its revenue gained 15% to EUR1.13 million versus EUR984 million. For fiscal year 2015, Infineon lifted its revenue growth forecast to around 12%, versus its earlier outlook for an 8% growth. It expects Q2 revenue growth of 5% to 9%. "We had a good start into the new fiscal year. Revenue and margin have developed better than expected during the three-month period, in particular due to the strength of the dollar. Even adjusted for the tailwind from the dollar and one-time effects, reported figures would have been at the upper end of the forecasted range, reflecting Infineon's ability to perform well, even in times of uncertainty," Reinhard Ploss, CEO of Infineon said. Infineon shares gained 0.91% to close at $11.05 yesterday.
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Posted In: EarningsNewsGuidanceproift
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