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Infineon makes 1 billion losses

Infineon makes 1 billion losses

Infineon Technologies announced its results for the 2002 fiscal year ended September 30th. After that, sales fell by 8 percent to 5.21 billion euros compared to the previous financial year.

This was the reason for this As is so often the case, the overall weak demand in the semiconductor market and the considerable price pressure in all business areas, especially for memory products. The year-on-year sales increase of 16 percent in storage products results from the higher production volume as a result of productivity and capacity increases as well as an increase in bit growth. These positive developments contrasted with a decline in sales in the communications and chip card IC segments, which was mainly due to the dramatically reduced investments by global network operators, weak demand and the overall strong price pressure.

The net loss was 1.02 billion euros compared to a net loss of 591 million euros in the previous financial year. The loss per share was 1.47 euros in the 2002 financial year, compared to a loss per share of 0.92 euros in the 2001 financial year.

Research and development expenses totaled 1.06 billion in the past financial year or 20 percent of sales. In the previous year this value was 1.19 billion euros.