Germany's Infineon Reports Wider Loss
Computer chipmaker Infineon Technologies said Wednesday its net loss widened in the fiscal fourth quarter, while revenue dropped by nearly 20 percent.
The 280 million euros ($409 million) loss compared with a shortfall of euro197 million in the previous quarter and 36 million euros in the fourth quarter of its previous fiscal year.
Revenue was 1.84 billion euros ($2.7 billion) in the quarter ending Sept. 30 -- up 11 percent on the previous quarter but down nearly 20 percent on the euro2.29 billion reported in the fourth quarter of 2006.
The Munich-based company's bottom line continued to be hurt by its flagging personal computer chip memory maker unit, Qimonda, which has been hit by falling prices for memory chips.
Qimonda reported a 42 percent drop in net sales to 711 million euros ($1 billion) from 1.23 billion euros in the same quarter of 2006, while most of Infineon's other major units posted sales increases, partially offsetting the decline.
Infineon sold some of its holdings in Qimonda in 2006, listing it on the New York Stock Exchange, but retains an 86 percent stake.