Infineon Technologies AG reported results for its fiscal fourth quarter as well as the whole 2011 fiscal year ended September 30, 2011, and what investors took away from the report is that 2012 isn't looking so hot. Infineon said it expects a sequential revenue decline of about 10 percent in the first quarter of 2012, and an unspecified single-digit percentage drop for all of 2012 relative to the 2011 fiscal year.
That bit of bad news sent Infineon's stock down 6.2 percent, as the forecast was decidedly steeper than what analysts were projecting, Bloomberg reports. It wasn't all bad news for Infineon, however, which posted record numbers for the current year.
"2011 was a record year for Infineon: all-time high at revenues and margins for the current portfolio," says Peter Bauer, CEO of Infineon. "This success was not only based on the general economic upturn it was furthermore a result of our own strength. Our strategic decision to focus on energy efficiency, mobility, and security was absolutely right and secures profitable growth through the whole economic cycle."
Infineon's quarterly sales of Euro 1.038 billion (~US$1.4 billion) fell flat sequentially, but was up 10 percent year-on-year.