Infineon Technologies above-average seasonal revenue growth and higher earnings driven by strong demand in Automotive, Industrial and Power Supply
Infineon Technologies reported results for the second quarter of its 2017 fiscal year (period ended 31 March 2017).
The German semiconductor giant reports the second-quarter gross margin was 36.5 percent, compared with 36.0 percent in the previous quarter.
“The favorable market development we saw in the first quarter of the fiscal year has continued into the second three-month period. Current order situation gives us good reason for optimism and we have raised our forecast for the full year,” said Dr. Reinhard Ploss, CEO of Infineon Technologies. “Apart from a continuation of our outstanding performance in the automotive sector, demand for solutions for industrial applications, power supplies and homeappliances is also gathering pace. We are particularly pleased with the positive customer feedback on our silicon carbide MOSFET. This is a clear sign that we are pursuing the right strategy concerning compound semiconductors.”
In the second quarter of the 2017 fiscal year, revenue grew by 7 percent from €1,645 million to €1,767 million quarter-on-quarter.
The company noted that the Automotive (ATV), Industrial Power Control (IPC) and Power Management & Multimarket (PMM) segments all contributed to revenue growth, whereas revenue reported by the Chip Card & Security segment (CCS) was down slightly.
In the third quarter of the 2017 fiscal year, Infineon Technologies expects quarter-on-quarter revenue growth of 3 percent (plus or minus 2 percentage points).
Infineon Technologies expects year-on-year revenue growth of 8 to 11 percent, with a Segment Result Margin of approximately 17 percent at the mid-point of the revenue guidance.