SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
April 24,
2008
INFINEON TECHNOLOGIES AG
Am Campeon 1-12
D-85579 Neubiberg/Munich
Federal Republic of Germany
Tel: +49-89-234-0
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F.
Form 20-F
þ
Form 40-F
o
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
o
No
þ
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82-
.
This Report on Form 6-K contains a press release of Infineon Technologies AG dated April 23, 2008,
announcing the Companys results for the second quarter and the first half of the 2008 fiscal
year.
KEY FIGURES FOR THE SECOND QUARTER OF 2008 FISCAL YEAR
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With plans for the ultimate disposal and resulting deconsolidation of its investment in
Qimonda AG, Infineon Technologies has reclassified the assets and liabilities of Qimonda as
assets held for sale in its condensed consolidated balance sheets, effective March 31,
2008.
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|
With this reclassification, the individual line items in Infineons condensed
consolidated statements of operations, including Revenues, reflect Infineons continuing
operations without Qimonda. All results relating to Qimonda are reported in the line item
Income (loss) from discontinued operations. From now on, you will find references to
Infineon excluding Qimonda replaced with references to Infineon. Similarly, the
definition of EBIT will exclude Qimonda, and is now being referred to as Infineon EBIT.
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For the second quarter of the 2008 fiscal year, Infineon reported revenues of Euro 1.049
billion. Infineon EBIT was Euro 36 million, compared to Euro 65 million in the prior
quarter. Infineon EBIT in the second quarter included net charges of Euro 8 million, mainly
in connection with restructuring. Infineon EBIT in the previous quarter included a net gain
of Euro 11 million. Net income from continuing operations before extraordinary loss was
Euro 19 million or Euro 0.03 per share (basic and diluted).
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The net loss from discontinued operations was Euro 1.390 billion for the second quarter.
This loss included Infineons share in Qimondas net loss of Euro 482 million, as well as
charges of Euro 1.004 billion from the write-down of the carrying value of Infineons
interest in Qimonda to its estimated fair value less costs to sell, following its
reclassification as held for sale. Basic and diluted loss per share from discontinued
operations was Euro 1.85.
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For the second quarter, Infineon reported group net loss of Euro 1.371 billion, and basic
and diluted loss per share of Euro 1.82.
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3 months
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3 months
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3 months
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ended
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year-on-year
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ended
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sequential
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ended
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in Euro million
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Mar 31, 07
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+/- in %
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Dec 31, 07
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+/- in %
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Mar 31, 08
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Revenues
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978
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7
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%
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1,090
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(4
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%)
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1,049
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Infineon EBIT
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(29
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)
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+++
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65
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(45
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%)
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36
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Income (loss) from continuing operations
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(25
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)
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+++
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45
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(58
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%)
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19
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Income (loss) from discontinued operation, net of tax
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49
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(441
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)
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(1,390
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)
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Net loss
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(11
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)
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(396
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)
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(1,371
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)
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Basic and diluted earnings (loss) per share from continuing operations
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(0.04
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)
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+++
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0.06
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(50
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%)
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0.03
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Basic and diluted earnings (loss) per share from discontinued operations
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0.07
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(0.59
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)
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(1.85
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)
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Basic and diluted earnings (loss) per share from extraordinary loss
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(0.04
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)
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+++
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+++
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Basic and diluted loss per share (in Euro)
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(0.01
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)
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(0.53
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)
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(1.82
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)
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Infineon EBIT in the second quarter of the 2008 fiscal year included net charges of Euro 8
million, mainly in connection with restructuring. Infineon EBIT in the prior quarter included a
net gain of Euro 11 million, reflecting a gain of Euro 28 million from the sale of part of the
companys interest in its high-power bipolar business, which was partly offset by charges of
Euro 17 million, mostly reflecting a write-off of acquired in-process research & development of
Euro 14 million relating to the mobile phone business acquired from LSI.
-2-
OUTLOOK FOR THIRD QUARTER AND 2008 FISCAL YEAR
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Infineon expects revenues for the third quarter to be flat to down slightly relative to
the second quarter. Infineon EBIT excluding net gains or charges is expected to decline
from the prior quarter, but remain positive, with a low single-digit EBIT margin. In the
third quarter, Infineon expects to record a gain of approximately Euro 40 million from the
sale of the companys hard disk drive business to LSI.
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Revenues for the third quarter in the Automotive, Industrial & Multimarket segment are
expected to decline by a low single-digit percentage sequentially, with segment EBIT margin
of 8.5 to 9.5 percent excluding net gains or charges. In addition, Infineon expects to
record a gain of approximately Euro 40 million from the sale of the companys hard disk
drive business to LSI. Revenues in the Communication Solutions segment are expected to
increase by a mid to high single-digit percentage compared to the prior quarter, with
segment EBIT of approximately negative Euro 25 million excluding net gains or charges.
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For the full year, Infineon expects revenues to grow by a high single-digit percentage
and Infineon EBIT, excluding net gains or charges, to be positive, with low to mid
single-digit EBIT margin. In the Automotive, Industrial & Multimarket segment, revenues and
segment EBIT, excluding net gains or charges, are both expected to decline slightly from
2007 fiscal year levels. In Communication Solutions, Infineon expects revenue growth of 25
to 30 percent from 2007 fiscal year levels with low to mid single-digit negative segment
EBIT margin, excluding net gains or charges.
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-1-
Infineon reports results for the second quarter of 2008 fiscal year
Neubiberg, Germany April 23, 2008 Infineon Technologies AG (FSE/NYSE:IFX) today reported
results for the second quarter of the 2008 fiscal year, ended March 31, 2008.
As of March 31, 2008, the financial reports of Infineon will focus on the ongoing operations of the
company while at the same time setting the foundation for the comparability of its performance
going forward. The assets and liabilities of Qimonda have been reclassified as held for sale in the
condensed consolidated balance sheets, and the individual line items in the condensed consolidated
statements of operations reflect the results of Infineons segments other than Qimonda. The results
of operations of Qimonda are reported in one line item titled Income (loss) from discontinued
operations. In addition, earnings per share as well as the statements of cash flows differentiate
between continuing and discontinued operations. Following this reclassification, the investment
in Qimonda has been reduced to its current fair value less costs to sale, resulting in a write-down
of Euro 1.004 billion, which was recorded in Income (loss) from discontinued operations in the
second quarter of the current fiscal year.
Infineons revenues in the second quarter of the 2008 fiscal year were Euro 1.049 billion, down
four percent sequentially and up seven percent year-over-year. The sequential decline reflects
primarily negative revenue seasonality in the Communication Solutions segment. Excluding effects
from currency fluctuations, primarily between the U.S. dollar and the Euro, and acquisitions and
divestitures, revenues declined two percent sequentially and rose ten percent year-over-year.
Infineon EBIT was Euro 36 million in the second quarter, down from Euro 65 million in the prior
quarter. Infineon EBIT in the second quarter included net charges of Euro 8 million, mainly in
connection with restructuring, and Euro 5 million for the amortization of acquisition-related
intangible assets related mainly to the business acquired from LSI. Infineon EBIT in the first
quarter included a net gain of Euro 11 million, and Euro 9 million of such amortization expenses.
For additional detail on net gains and charges included in Infineon EBIT, please see the table
on page 9 of this release.
-2-
Net income from continuing operations for the second quarter was Euro 19 million, translating into
basic and diluted earnings per share of Euro 0.03. For the first quarter, net income from
continuing operations was Euro 45 million, basic and diluted earnings per share were Euro 0.06.
The net loss from discontinued operations was Euro 1.390 billion for the second quarter. This loss
included Infineons share in Qimondas net loss of Euro 482 million, as well as a charge of Euro
1.004 billion from the write-down of the carrying value of Infineons interest in Qimonda to its
estimated fair value. Basic and diluted loss per share from discontinued operations was Euro 1.85.
For the second quarter, Infineon reported group net loss of Euro 1.371 billion, and basic and
diluted loss per share of Euro 1.82.
Infineons outlook for third quarter of 2008 fiscal year
Although Infineon has hedged a significant portion of the cash flow impact of the weakening
exchange rate of the U.S. dollar against the Euro for the 2008 fiscal year, the exchange rate
development is still negatively impacting the top-line. For the third quarter of the 2008 fiscal
year, Infineon expects revenues to be flat to down slightly compared to the second quarter. The
company anticipates Infineon EBIT, excluding net gains or charges, to decline from the prior
quarters level, but to remain positive, with low single-digit Infineon EBIT margin. In the third
quarter, Infineon expects to record a gain of approximately Euro 40 million from the sale of the
companys hard disk drive (HDD) business to LSI.
Infineons outlook for 2008 fiscal year
For the full year, Infineon maintains its previously announced outlook for its continuing
operations. In the Automotive, Industrial & Multimarket segment, revenues and EBIT excluding net
gains or charges are both expected to decline slightly from 2007 fiscal year levels. In the
Communication Solutions segment, revenues are anticipated to increase 25 to 30 percent, with low to
mid single-digit negative EBIT margin excluding net gains or charges.
Infineon currently expects revenues to increase by a high single-digit percentage year-on-year.
Infineon EBIT in the 2008 fiscal year, excluding net gains or charges, is anticipated to be
positive with low to mid single-digit Infineon EBIT margin.
-3-
In the second quarter, we took a big step forward in our preparation for the ultimate disposal and
resulting deconsolidation of our investment in Qimonda resulting in the re-classification as assets
held for sale. In our ongoing operations, we made solid year-over-year progress both in terms of
revenue and Infineon EBIT. That progress was achieved despite a materially adverse development in
the U.S. dollar-Euro exchange rate, said Dr. Wolfgang Ziebart, President and CEO of Infineon
Technologies AG. Last quarters severe fall of the U.S. dollar against the Euro from about 1.45 to
the current level of about 1.60, should it be sustained throughout the entire 2009 fiscal year,
would negatively impact Infineon EBIT for next year by about Euro 120 million, based on our current
revenue projections. Reaching ten percent Infineon EBIT margin under such circumstances would not
be possible. Against this background, we have strongly accelerated all margin improvement measures
that we are implementing across the company. We therefore see the potential, despite the
significant currency hit, to maintain EBIT margins in the Automotive, Industrial & Multimarket
segment at a high level and to achieve positive EBIT in our Communication Solutions segment next
year, excluding net gains or charges.
Additional details concerning the outlook can be found in the segments sections below.
Segments second quarter performance and outlook
Automotive, Industrial & Multimarket (AIM)
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Bars:
Line:
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Revenues in millions of Euro;
Reported EBIT margin in percent with
EBIT in millions of Euro.
|
In the second quarter of the 2008 fiscal year, the Automotive, Industrial & Multimarket segment
reported revenues of Euro 741 million, broadly unchanged compared to the prior quarter, due to the
usual seasonal pattern, and unchanged year-over-year.
-4-
Excluding the effects of currency fluctuations, primarily between the U.S. dollar and the Euro, and
acquisitions and divestitures, segment revenues increased nine percent year-over-year and grew one
percent sequentially. Segment EBIT was Euro 69 million compared to Euro 93 million in the first
quarter. Net gains or charges included in the segment EBIT for the second quarter were negligible.
Included in the first quarter segment EBIT was a gain of Euro 28 million from the sale of part of
the companys interest in its high-power bipolar business.
Revenues and EBIT in the automotive business increased compared to the prior quarter, despite
ongoing weakness in demand from U.S. car manufacturers. In the industrial & multimarket business,
revenues and EBIT decreased, as expected, due to the usual seasonal pattern in the consumer,
computing and telecom markets. Demand for high-power products remained strong. The results of the
security & ASICs business remained broadly unchanged compared to the first quarter, mainly due to
continued strong demand in the chip card and security business.
Automotive,
Industrial & Multimarkets outlook for third quarter of
2008 fiscal year
In the third quarter of the 2008 fiscal year, Infineon expects revenues of its Automotive,
Industrial & Multimarket segment to decline by a low single-digit percentage compared to the second
quarter. The expected decline can be attributed predominantly to the ongoing weakening of the U.S.
dollar against the Euro and the expected deconsolidation of the companys HDD business. Segment
EBIT margin is expected to be in the range of 8.5 to 9.5 percent, excluding net gains or charges.
In addition, Infineon expects to record a gain of approximately Euro 40 million from the sale of
the HDD business to LSI.
Revenues in the segments automotive business are expected to remain broadly unchanged compared to
the second quarter. Sales in the industrial & multimarket business are anticipated to be about
flat. Results in the security & ASICs business are anticipated to decline compared to the prior
quarter, largely due to the deconsolidation of the HDD business following its sale to LSI. The
transaction is expected to close in the third quarter. In addition, we expect some normalization in
demand for chip card ICs.
-5-
Communication Solutions (COM)
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Bars:
Line:
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|
Revenues in millions of Euro;
Reported EBIT margin in percent with
EBIT in millions of Euro.
|
In the second quarter of the 2008 fiscal year, revenues in the Communication Solutions segment were
Euro 302 million, down 15 percent compared to the prior quarter and up 27 percent year-over-year.
Excluding the effects of currency fluctuations, primarily between the U.S. dollar and the Euro, and
the contributions from the mobile phone business acquired from LSI and the DSL CPE activities
acquired from Texas Instruments, segment revenues increased 10 percent year-over-year and decreased
15 percent sequentially. Segment EBIT for the second quarter declined to negative Euro 29 million,
compared to negative Euro 11 million in the prior quarter, following the revenue decline. Included
in the segment EBIT for the second quarter was amortization of acquired intangible assets of Euro 5
million relating mainly to the mobile phone business acquired from LSI. Included in the segment
EBIT for the first quarter was a write-off of Euro 14 million for acquired in-process R&D in
connection with the acquisition of the mobile phone business of LSI. Also included in the segment
EBIT for the first quarter was amortization of acquired intangible assets of Euro 9 million
relating mainly to the mobile phone business acquired from LSI.
In the wireless business, revenues decreased strongly, as expected, driven mainly by typical
wireless seasonality and reduced volumes in certain mobile phone projects. As anticipated, revenues
in the broadband business stabilized on the low level of the prior quarter.
Communication Solutions outlook for third quarter of 2008 fiscal year
In the third quarter of the 2008 fiscal year, revenues in the Communication Solutions segment are
expected to increase by a mid to high single-digit percentage compared to the prior quarter. This
increase reflects mainly the scheduled production ramp-ups of the companys new HSDPA and EDGE
mobile platform solutions.
-6-
The broadband business is anticipated to remain broadly unchanged compared to the second quarter.
Segment EBIT is expected to be approximately negative Euro 25 million, excluding net gains or
charges.
Qimonda
In preparation for ultimate disposal and resulting deconsolidation of its investment in Qimonda AG,
Infineon has reclassified the assets and liabilities of Qimonda as held for sale in its condensed
consolidated balance sheets effective March 31, 2008. With this decision, the individual line items
in the condensed consolidated statements of operations on page 8 of this release reflect Infineons
continuing operations without Qimonda. All results relating to Qimonda are reported in the line
item Income (loss) from discontinued operations.
For the second quarter, the net loss from discontinued operations was Euro 1.390 billion. This loss
included Infineons share in Qimondas net loss of Euro 482 million, as well as charges of Euro
1.004 billion from its write-down of the Infineons interest in Qimonda to its estimated fair
value, following the reclassification as held for sale. Basic and diluted loss per share from
discontinued operations was Euro 1.85 for the second quarter. Infineons beneficial ownership
interest in Qimonda as of March 31, 2008 was 77.5 percent.
Other Operating Segments / Corporate and Eliminations
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|
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|
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|
|
|
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|
|
3 months ended
|
Revenues in Euro million
|
|
Mar 31, 07
|
|
Jun 30, 07
|
|
Sep 30, 07
|
|
Dec 31, 07
|
|
Mar 31, 08
|
Other Operating Segments
|
|
|
50
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|
|
|
54
|
|
|
|
45
|
|
|
|
38
|
|
|
|
39
|
|
Corporate and Eliminations
|
|
|
(51
|
)
|
|
|
(54
|
)
|
|
|
(50
|
)
|
|
|
(47
|
)
|
|
|
(33
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
3 months ended
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EBIT in Euro million
|
|
Mar 31, 07
|
|
Jun 30, 07
|
|
Sep 30, 07
|
|
Dec 31, 07
|
|
Mar 31, 08
|
Other Operating Segments
|
|
|
(5
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)
|
|
|
(2
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)
|
|
|
(2
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)
|
|
|
(4
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)
|
|
|
|
|
Corporate and Eliminations
|
|
|
(27
|
)
|
|
|
(26
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)
|
|
|
(111
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)
|
|
|
(13
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)
|
|
|
(4
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)
|
Combined, EBIT in Other Operating Segments and Corporate and Eliminations included charges of Euro
8 million in the second quarter, mainly in connection with restructuring.
In the first quarter, EBIT in Corporate and Eliminations included charges of Euro 3 million in
connection with restructuring.
-7-
Other Operating Segments / Corporate and Eliminations outlook for third quarter of 2008 fiscal
year
In the third quarter, Infineon expects revenues in Other Operating Segments to decline compared to
the prior quarter as shipments of wafers out of Infineons 200-millimeter wafer facility to Qimonda
will come to an end during the quarter. EBIT excluding net gains or charges for Other Operating
Segments and Corporate and Eliminations combined is anticipated to be approximately negative Euro
20 million.
Major business highlights of Infineons segments in the second quarter of the 2008 fiscal year can
be found in this document after the financial tables.
All figures are preliminary and unaudited.
Analyst and press telephone conferences
Infineon Technologies AG will conduct a telephone conference (in English only) with analysts and
investors on April 23, 2008, at 10:00 a.m. Central European Summer Time (CEST), 4:00 a.m. Eastern
Daylight Time (U.S. EDT), to discuss operating performance during the second quarter of the 2008
fiscal year. In addition, the Infineon Management Board will host a telephone conference with the
media at 11:30 a.m. (CEST), 5:30 a.m. (U.S. EDT). It can be followed in German and English over the
Internet. Both conferences will be available live and for download on the Infineon web site at
http://corporate.infineon.com
.
IFX financial and trade fair calendar
(*preliminary date)
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Jun 2/3, 2008
|
|
IFX Day: Annual Analyst and Investor Day
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|
|
Jul 25, 2008*
|
|
Earnings Release for the Third Quarter of the 2008 Fiscal Year
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|
|
Dec 03, 2008*
|
|
Earnings Release for the Fourth Quarter and Full 2008 Fiscal Year
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|
|
Feb 12, 2009*
|
|
Annual General Meeting of Shareholders
|
New in
the IFX pod cast section at
www.infineon.com/podcast
|
|
|
|
|
Emergency Call for Cars
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|
|
Tuner: Basics
|
-8-
FINANCIAL INFORMATION
According to U.S. GAAP Preliminary and Unaudited
Condensed Consolidated Statements of Operations
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|
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|
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|
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|
|
|
|
|
|
3 months ended
|
|
|
6 months ended
|
|
in Euro million
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
Net sales
|
|
|
978
|
|
|
|
1,090
|
|
|
|
1,049
|
|
|
|
1,936
|
|
|
|
2,139
|
|
Cost of goods sold
|
|
|
(663
|
)
|
|
|
(701
|
)
|
|
|
(681
|
)
|
|
|
(1,305
|
)
|
|
|
(1,382
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
315
|
|
|
|
389
|
|
|
|
368
|
|
|
|
631
|
|
|
|
757
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development expenses
|
|
|
(186
|
)
|
|
|
(206
|
)
|
|
|
(181
|
)
|
|
|
(381
|
)
|
|
|
(387
|
)
|
Selling, general and administrative expenses
|
|
|
(113
|
)
|
|
|
(137
|
)
|
|
|
(136
|
)
|
|
|
(241
|
)
|
|
|
(273
|
)
|
Restructuring charges
|
|
|
(20
|
)
|
|
|
(3
|
)
|
|
|
(6
|
)
|
|
|
(22
|
)
|
|
|
(9
|
)
|
Other operating income, net
|
|
|
4
|
|
|
|
30
|
|
|
|
2
|
|
|
|
4
|
|
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss)
|
|
|
|
|
|
|
73
|
|
|
|
47
|
|
|
|
(9
|
)
|
|
|
120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net
|
|
|
(11
|
)
|
|
|
(6
|
)
|
|
|
(10
|
)
|
|
|
(21
|
)
|
|
|
(16
|
)
|
Equity in earnings of associated companies, net
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
2
|
|
Other non-operating income (expense), net
|
|
|
9
|
|
|
|
2
|
|
|
|
(6
|
)
|
|
|
12
|
|
|
|
(4
|
)
|
Minority interests
|
|
|
(3
|
)
|
|
|
(10
|
)
|
|
|
(7
|
)
|
|
|
(4
|
)
|
|
|
(17
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss (income) before income taxes
|
|
|
(5
|
)
|
|
|
59
|
|
|
|
26
|
|
|
|
(22
|
)
|
|
|
85
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
(20
|
)
|
|
|
(14
|
)
|
|
|
(7
|
)
|
|
|
(33
|
)
|
|
|
(21
|
)
|
Income (loss) from continuing operations
|
|
|
(25
|
)
|
|
|
45
|
|
|
|
19
|
|
|
|
(55
|
)
|
|
|
64
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from discontinued operation, net of tax
|
|
|
49
|
|
|
|
(441
|
)
|
|
|
(1,390
|
)
|
|
|
199
|
|
|
|
(1,831
|
)
|
Income (loss) before extraordinary loss
|
|
|
24
|
|
|
|
(396
|
)
|
|
|
(1,371
|
)
|
|
|
144
|
|
|
|
(1,767
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Extraordinary loss, net of tax
|
|
|
(35
|
)
|
|
|
|
|
|
|
|
|
|
|
(35
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
(11
|
)
|
|
|
(396
|
)
|
|
|
(1,371
|
)
|
|
|
109
|
|
|
|
(1,767
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted earnings (loss) per share*:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares in millions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding basic and diluted
|
|
|
748
|
|
|
|
750
|
|
|
|
750
|
|
|
|
748
|
|
|
|
750
|
|
Basic and diluted earnings (loss) per share from continuing operations
|
|
|
(0.04
|
)
|
|
|
0.06
|
|
|
|
0.03
|
|
|
|
(0.08
|
)
|
|
|
0.09
|
|
Basic and diluted earnings (loss) per share from discontinued operations
|
|
|
0.07
|
|
|
|
(0.59
|
)
|
|
|
(1.85
|
)
|
|
|
0.27
|
|
|
|
(2.44
|
)
|
Basic and diluted earnings (loss) per share from extraordinary loss
|
|
|
(0.04
|
)
|
|
|
|
|
|
|
|
|
|
|
(0.04
|
)
|
|
|
|
|
Earnings (loss) per share (in Euro) basic and diluted
|
|
|
(0.01
|
)
|
|
|
(0.53
|
)
|
|
|
(1.82
|
)
|
|
|
0.15
|
|
|
|
(2.35
|
)
|
|
|
|
*
|
|
Quarterly earnings (loss) per share may not add up to year-to-date earnings (loss) per share due to rounding.
|
Infineon EBIT
Infineon EBIT is defined as earnings (loss) before income (loss) from discontinued operation, net
of tax, interest and taxes. The Companys management uses Infineon EBIT, among other measures, to
establish budgets and operational goals, to manage the Companys business and to evaluate its
performance. The Company reports Infineon EBIT information because it believes that it provides
investors with meaningful information about the operating performance of the Company and especially
about the performance of its separate operating segments. Because many operating decisions, such as
allocations of resources to individual projects, are made on a basis for which the effects of
financing the overall business and of taxation are of marginal relevance, management finds a metric
that excludes the effects of interest on financing and tax expense useful. In addition, in
measuring operating performance, particularly for the purpose of making internal decisions, such as
those relating to personnel matters, it is useful for management to consider a measure that
excludes items over which the individuals being evaluated have minimal control, such as
enterprise-level taxation and financing.
Infineon EBIT is determined as follows from the condensed consolidated statements of operations,
without adjustment to the US GAAP amounts presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
|
6 months ended
|
|
in Euro million
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
|
Mar 31,07
|
|
|
Mar 31, 08
|
|
Net income (loss)
|
|
|
(11
|
)
|
|
|
(396
|
)
|
|
|
(1,371
|
)
|
|
|
109
|
|
|
|
(1,767
|
)
|
- Loss (income) from discontinued operation, net of tax
|
|
|
(49
|
)
|
|
|
441
|
|
|
|
1,390
|
|
|
|
(199
|
)
|
|
|
1,831
|
|
- Income tax expense
|
|
|
20
|
|
|
|
14
|
|
|
|
7
|
|
|
|
33
|
|
|
|
21
|
|
- Interest expense, net
|
|
|
11
|
|
|
|
6
|
|
|
|
10
|
|
|
|
21
|
|
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Infineon EBIT
|
|
|
(29
|
)
|
|
|
65
|
|
|
|
36
|
|
|
|
(36
|
)
|
|
|
101
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-9-
Net Gains and Charges
Net gains and charges for Infineon generally include asset impairments, restructuring and other
related closure costs, in-process research and development write-offs, certain litigation
settlement costs, and gains (losses) on sales of assets, businesses, or interests in subsidiaries
as well as other expense or income positions.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
|
6 months ended
|
|
in Euro million
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
Impairments, restructuring and other related closure costs
|
|
|
(54
|
)
|
|
|
(3
|
)
|
|
|
(8
|
)
|
|
|
(53
|
)
|
|
|
(11
|
)
|
In-process research and development write-offs
|
|
|
|
|
|
|
(14
|
)
|
|
|
|
|
|
|
|
|
|
|
(14
|
)
|
Net gains (losses) on sales of assets, businesses or interests in subsidiaries
|
|
|
3
|
|
|
|
28
|
|
|
|
|
|
|
|
1
|
|
|
|
28
|
|
Other
|
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gains (charges)
|
|
|
(29
|
)
|
|
|
11
|
|
|
|
(8
|
)
|
|
|
(31
|
)
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Results
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
|
6 months ended
|
|
Net sales in Euro million
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
|
+/- in %
|
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
|
+/- in %
|
|
Automotive, Industrial & Multimarket
|
|
|
741
|
|
|
|
741
|
|
|
|
|
|
|
|
1,451
|
|
|
|
1,484
|
|
|
|
2
|
|
Communication Solutions
(1)
|
|
|
238
|
|
|
|
302
|
|
|
|
27
|
|
|
|
474
|
|
|
|
658
|
|
|
|
39
|
|
Other Operating Segments
(2)
|
|
|
50
|
|
|
|
39
|
|
|
|
(22
|
)
|
|
|
120
|
|
|
|
77
|
|
|
|
(36
|
)
|
Corporate and Eliminations
(3)
|
|
|
(51
|
)
|
|
|
(33
|
)
|
|
|
35
|
|
|
|
(109
|
)
|
|
|
(80
|
)
|
|
|
27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
978
|
|
|
|
1,049
|
|
|
|
7
|
|
|
|
1,936
|
|
|
|
2,139
|
|
|
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
|
6 months ended
|
|
Infineon EBIT in Euro million
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
|
+/- in %
|
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
|
+/- in %
|
|
Automotive, Industrial & Multimarket
|
|
|
59
|
|
|
|
69
|
|
|
|
17
|
|
|
|
112
|
|
|
|
162
|
|
|
|
45
|
|
Communication Solutions
|
|
|
(56
|
)
|
|
|
(29
|
)
|
|
|
48
|
|
|
|
(114
|
)
|
|
|
(40
|
)
|
|
|
65
|
|
Other Operating Segments
|
|
|
(5
|
)
|
|
|
|
|
|
|
+++
|
|
|
|
(8
|
)
|
|
|
(4
|
)
|
|
|
50
|
|
Corporate and Eliminations
|
|
|
(27
|
)
|
|
|
(4
|
)
|
|
|
85
|
|
|
|
(26
|
)
|
|
|
(17
|
)
|
|
|
35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
(29
|
)
|
|
|
36
|
|
|
|
+++
|
|
|
|
(36
|
)
|
|
|
101
|
|
|
|
+++
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
Includes sales of
8 million and
1 million for the three months ended
March 31, 2007 and 2008, respectively, and of
10 million and
8
million for the six months ended March 31, 2007 and 2008,
respectively, from sales of wireless communication applications to
Qimonda.
|
|
(2)
|
|
Includes sales of
43 million and
34 million for the three months
ended March 31, 2007 and 2008, respectively, and of
99 million and
70 million for the six months ended March 31, 2007 and 2008,
respectively, from sales of wafers from Infineons 200-millimeter
facility in Dresden to Qimonda under foundry agreement.
|
|
(3)
|
|
Includes the elimination of sales of
51 million and
35 million for
the three months ended March 31, 2007 and 2008, respectively, and of
109 million and
78 million for the six months ended March 31, 2007
and 2008, respectively.
|
-10-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
Net sales in Euro million
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
|
+/- in %
|
|
Automotive, Industrial & Multimarket
|
|
|
743
|
|
|
|
741
|
|
|
|
|
|
Communication Solutions
(1)
|
|
|
356
|
|
|
|
302
|
|
|
|
(15
|
)
|
Other Operating Segments
(2)
|
|
|
38
|
|
|
|
39
|
|
|
|
3
|
|
Corporate and Eliminations
(3)
|
|
|
(47
|
)
|
|
|
(33
|
)
|
|
|
30
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
1,090
|
|
|
|
1,049
|
|
|
|
(4
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
Infineon EBIT in Euro million
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
|
+/- in %
|
|
Automotive, Industrial & Multimarket
|
|
|
93
|
|
|
|
69
|
|
|
|
(26
|
)
|
Communication Solutions
|
|
|
(11
|
)
|
|
|
(29
|
)
|
|
|
|
|
Other Operating Segments
|
|
|
(4
|
)
|
|
|
|
|
|
|
+++
|
|
Corporate and Eliminations
|
|
|
(13
|
)
|
|
|
(4
|
)
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
65
|
|
|
|
36
|
|
|
|
(45
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
Includes sales of
7 million and
1 million for the three months ended
December 31, 2007 and March 31, 2008, respectively, from sales of
wireless communication applications to Qimonda.
|
|
(2)
|
|
Includes sales of
36 million and
34 million for the three months
ended December 31, 2007 and March 31, 2007, respectively, from sales
of wafers from Infineons 200-millimeter facility in Dresden to
Qimonda under foundry agreement.
|
|
(3)
|
|
Includes the elimination of sales of
43 million and
35 million for
the three months ended December 30, 2007 and March 31, 2008,
respectively.
|
Regional Sales Development
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
Regional sales in %
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
Germany
|
|
|
23
|
%
|
|
|
20
|
%
|
|
|
23
|
%
|
Other Europe
|
|
|
23
|
%
|
|
|
18
|
%
|
|
|
20
|
%
|
North America
|
|
|
14
|
%
|
|
|
13
|
%
|
|
|
13
|
%
|
Asia/Pacific
|
|
|
34
|
%
|
|
|
42
|
%
|
|
|
37
|
%
|
Japan
|
|
|
5
|
%
|
|
|
5
|
%
|
|
|
5
|
%
|
Other
|
|
|
1
|
%
|
|
|
2
|
%
|
|
|
2
|
%
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
100
|
%
|
|
|
100
|
%
|
|
|
100
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
|
|
46
|
%
|
|
|
38
|
%
|
|
|
43
|
%
|
|
|
|
|
|
|
|
|
|
|
Outside-Europe
|
|
|
54
|
%
|
|
|
62
|
%
|
|
|
57
|
%
|
|
|
|
|
|
|
|
|
|
|
-11-
Condensed Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
in Euro million
|
|
Sep 30, 07
|
|
|
Mar 31, 08
|
|
Assets
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
1,073
|
|
|
|
227
|
|
Marketable securities
|
|
|
210
|
|
|
|
623
|
|
Trade accounts receivable, net
|
|
|
620
|
|
|
|
607
|
|
Inventories
|
|
|
598
|
|
|
|
616
|
|
Deferred income taxes
|
|
|
34
|
|
|
|
28
|
|
Other current assets
|
|
|
303
|
|
|
|
326
|
|
Assets held for sale
|
|
|
5,653
|
|
|
|
3,520
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
8,491
|
|
|
|
5,947
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net
|
|
|
1,462
|
|
|
|
1,373
|
|
Intangible assets, net
|
|
|
89
|
|
|
|
347
|
|
Long-term investments
|
|
|
24
|
|
|
|
29
|
|
Restricted cash
|
|
|
77
|
|
|
|
77
|
|
Deferred income taxes
|
|
|
446
|
|
|
|
424
|
|
Pension assets
|
|
|
60
|
|
|
|
57
|
|
Other assets
|
|
|
160
|
|
|
|
137
|
|
|
|
|
|
|
|
|
Total assets
|
|
|
10,809
|
|
|
|
8,391
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in Euro million
|
|
Sep 30, 07
|
|
|
Mar 31, 08
|
|
Liabilities and shareholders equity
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
Short-term debt and current maturities
|
|
|
260
|
|
|
|
188
|
|
Trade accounts payable
|
|
|
596
|
|
|
|
446
|
|
Accrued liabilities
|
|
|
379
|
|
|
|
320
|
|
Deferred income taxes
|
|
|
10
|
|
|
|
10
|
|
Short-term pension liabilities
|
|
|
5
|
|
|
|
6
|
|
Other current liabilities
|
|
|
325
|
|
|
|
296
|
|
Liabilities held for sale
|
|
|
1,898
|
|
|
|
1,955
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
3,473
|
|
|
|
3,221
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
1,149
|
|
|
|
1,191
|
|
Pension liabilities
|
|
|
88
|
|
|
|
85
|
|
Deferred income taxes
|
|
|
23
|
|
|
|
19
|
|
Long-term accrued liabilities
|
|
|
22
|
|
|
|
21
|
|
Other liabilities
|
|
|
107
|
|
|
|
87
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
4,862
|
|
|
|
4,624
|
|
|
|
|
|
|
|
|
Minority interests
|
|
|
1,033
|
|
|
|
703
|
|
|
|
|
|
|
|
|
Total shareholders equity
|
|
|
4,914
|
|
|
|
3,064
|
|
|
|
|
|
|
|
|
Total liabilities and shareholders equity
|
|
|
10,809
|
|
|
|
8,391
|
|
|
|
|
|
|
|
|
-12-
Condensed Consolidated Statements of Cash Flows
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
|
6 months ended
|
|
in Euro million
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
Net cash provided by (used in) operating activities from continuing operations
|
|
|
3
|
|
|
|
108
|
|
|
|
16
|
|
|
|
(116
|
)
|
|
|
124
|
|
Net cash provided by (used in) operating activities from discontinued operations
|
|
|
286
|
|
|
|
(159
|
)
|
|
|
(109
|
)
|
|
|
723
|
|
|
|
(268
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities
|
|
|
289
|
|
|
|
(51
|
)
|
|
|
(93
|
)
|
|
|
607
|
|
|
|
(144
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities from continuing operations
|
|
|
137
|
|
|
|
(701
|
)
|
|
|
(167
|
)
|
|
|
22
|
|
|
|
(868
|
)
|
Net cash used in investing activities from discontinued operations
|
|
|
(278
|
)
|
|
|
(35
|
)
|
|
|
(88
|
)
|
|
|
(486
|
)
|
|
|
(123
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
(141
|
)
|
|
|
(736
|
)
|
|
|
(255
|
)
|
|
|
(464
|
)
|
|
|
(991
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities from continuing operations
|
|
|
(503
|
)
|
|
|
25
|
|
|
|
(122
|
)
|
|
|
(370
|
)
|
|
|
(97
|
)
|
Net cash provided by (used in) financing activities from discontinued operations
|
|
|
(190
|
)
|
|
|
(38
|
)
|
|
|
232
|
|
|
|
(294
|
)
|
|
|
194
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities
|
|
|
(693
|
)
|
|
|
(13
|
)
|
|
|
110
|
|
|
|
(664
|
)
|
|
|
97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash and cash equivalents
|
|
|
(545
|
)
|
|
|
(800
|
)
|
|
|
(238
|
)
|
|
|
(521
|
)
|
|
|
(1,038
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of foreign exchange rate changes
|
|
|
(2
|
)
|
|
|
(9
|
)
|
|
|
(5
|
)
|
|
|
(19
|
)
|
|
|
(14
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization from continuing operations
|
|
|
153
|
|
|
|
141
|
|
|
|
135
|
|
|
|
314
|
|
|
|
276
|
|
Purchases of property, plant and equipment from continuing operations
|
|
|
(115
|
)
|
|
|
(99
|
)
|
|
|
(70
|
)
|
|
|
(220
|
)
|
|
|
(169
|
)
|
Gross and Net Cash Position*
Infineon defines gross cash position as cash and cash equivalents and marketable securities, and
net cash position as gross cash position less short and long-term debt. Since Infineon holds a
substantial portion of its available monetary resources in the form of readily marketable
securities, which for US GAAP purposes are not considered to be cash, it reports its gross and
net cash positions to provide investors with an understanding of the Companys overall liquidity.
The gross and net cash position is determined as follows from the condensed consolidated balance
sheets, without adjustment to the US GAAP amounts presented:
|
|
|
*
|
|
Includes only amounts from continuing operations.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in Euro million
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
Cash and cash equivalents
|
|
|
629
|
|
|
|
501
|
|
|
|
227
|
|
Marketable securities
|
|
|
242
|
|
|
|
531
|
|
|
|
623
|
|
|
|
|
|
|
|
|
|
|
|
Gross Cash Position
|
|
|
871
|
|
|
|
1,032
|
|
|
|
850
|
|
|
|
|
|
|
|
|
|
|
|
Less: short-term debt
|
|
|
231
|
|
|
|
261
|
|
|
|
188
|
|
long-term debt
|
|
|
1,019
|
|
|
|
1,237
|
|
|
|
1,191
|
|
|
|
|
|
|
|
|
|
|
|
Net Cash Position
|
|
|
(379
|
)
|
|
|
(466
|
)
|
|
|
(529
|
)
|
|
|
|
|
|
|
|
|
|
|
Free Cash Flow*
Infineon defines free cash flow as cash from operating and investing activities excluding purchases
or sales of marketable securities. Since Infineon holds a substantial portion of its available
monetary resources in the form of readily marketable securities, and operates in a capital
intensive industry, it reports free cash flow to provide investors with a measure that can be used
to evaluate changes in liquidity after taking capital expenditures into account. Free cash flow is
not intended to represent the residual cash flow available for discretionary expenditures, since
debt service requirements or other non-discretionary expenditures are not deducted. The free cash
flow is determined as follows from the condensed consolidated cash flow statements, without
adjustment to the US GAAP amounts presented:
|
|
|
*
|
|
Includes only amounts from continuing operations.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 months ended
|
|
|
6 months ended
|
|
in Euro million
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
|
Mar 31, 07
|
|
|
Mar 31, 08
|
|
Net cash provided by (used in) operating activities from continuing operations
|
|
|
3
|
|
|
|
108
|
|
|
|
16
|
|
|
|
(116
|
)
|
|
|
124
|
|
Net cash provided by (used in) investing activities from continuing operations
|
|
|
137
|
|
|
|
(701
|
)
|
|
|
(167
|
)
|
|
|
22
|
|
|
|
(868
|
)
|
Thereof: Purchases (sales) of marketable securities, net
|
|
|
(245
|
)
|
|
|
324
|
|
|
|
93
|
|
|
|
(235
|
)
|
|
|
417
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free cash flow
|
|
|
(105
|
)
|
|
|
(269
|
)
|
|
|
(58
|
)
|
|
|
(329
|
)
|
|
|
(327
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Employee Data
|
|
Mar 31, 07
|
|
|
Dec 31, 07
|
|
|
Mar 31, 08
|
|
Infineon
(1)
|
|
|
29,871
|
|
|
|
29,840
|
|
|
|
29,539
|
|
Qimonda
(2)
|
|
|
12,565
|
|
|
|
13,620
|
|
|
|
13,298
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
42,436
|
|
|
|
43,460
|
|
|
|
42,837
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
Of the Infineon workforce, 5,921, 6,426, 6,313, employees as of March 31, 2007,
December 31, 2007, and March 31, 2008, respectively, were engaged in research and development.
|
|
(2)
|
|
Of the Qimonda workforce, 2,263, 2,563, 2,531, employees as of March 31, 2007,
December 31, 2007, and March 31, 2008, respectively, were engaged in research and development.
|
-13-
Infineon business highlights for the second quarter of the 2008 fiscal year
|
|
AIM: BMW M GmbH selected Infineon as its semiconductor partner to develop the new engine
control unit for the next BMW M series of cars. Infineon will integrate its 32-bit AUDO FUTURE
microcontroller chips into the system and provide technical support. The TriCore-based AUDO
FUTURE microcontrollers deliver market-leading real-time performance that helps to handle
next-generation emission standards, particularly EURO5 and EURO6.
|
|
|
AIM: Infineon again received prestigious Best Supplier Awards from several global players,
honoring the companys work in the supply of products and services.
Toyotas Hirose plant, for example, awarded its product quality excellence prize to Infineon in
2007. Infineon had won the award also in 2006.
|
Energy efficiency
|
|
AIM: The company achieved a major design win with its crankshaft sensor at a major car
manufacturer. This sensor offers direction detection for a start/stop application to diesel
engines.
|
|
|
AIM: Infineon released two product families for the growing market of AC/DC and DC/DC power
supplies, which is expected to increase 4.9 percent on average to a total market size of U.S.
dollar 20.9 billion in 2012 (IMS Research, October 2007). The OptiMOS 3 N-Channel MOSFET helps
to reduce power losses by up to 30 percent for power supplies in consumer, industry- and
telecommunication applications. The CoolMOS 900-V-Superjunction-MOSFETs are designed for
applications like LCD-TVs, solar power generators, ,,Silverbox-PC power supplies, and lighting
systems. Their on-state resistance is best in class and up to 75 percent lower than using
conventional 900 V MOSFETs in industry standard packages
|
|
|
AIM: Infineon had design wins for its cost-efficient 16-bit and 32-bit powertrain
microcontrollers for low-end gasoline and diesel applications in the emerging car markets in
Asia. Despite stringent requirements to reduce fuel consumption and emission, Infineon helps
to meet the cost constraints of entry-level cars with consumer price demands of approximately
U.S. dollar 2,500.
|
Communications
|
|
COM: The Korean mobile phone manufacturer Samsung Electronics, Inc. chose Infineons HSDPA
platform XMM
TM
6080 for its new family of HEDGE mobile handsets. The Infineon
platform includes the HSDPA/EDGE baseband, power management, and single-chip 3.5G RF
transceiver and is complemented by
Infineons protocol
|
-14-
|
|
stack for HEDGE phones. Infineon has already started volume shipments of its
HSDPA platform. The Samsung HEDGE phones with the XMM
TM
6080 are expected to be
available in the second quarter of the 2008 calendar year.
|
|
|
COM: Infineon achieved a design win for its HSDPA platform XMM
TM
6080 and its
EDGE platform XMM
TM
2080 at major mobile phone customers. Ramp-up of both design
wins is scheduled for the end of the 2008 calendar year.
|
|
|
COM: Infineon sampled its 65 nanometer GSM/GPRS single-chip solution
X-GOLD
TM
113 and EDGE single-chip solution X-GOLD
TM
213. Both chips
integrate the baseband, RF transceiver, power management unit, and FM radio in one single die.
|
|
|
COM: As announced on the occasion of the 2008 Mobile World Congress, the company achieved a
design win for its RF transceiver SMARTi UE+ at another major mobile phone customer.
|
|
|
COM: Infineon achieved several design wins for its GPS single-chip solution Hammerhead 2 at
a major mobile phone customer.
|
|
|
AIM: Infineon began volume shipments of the worlds first RF switches manufactured in a
CMOS-based process on silicon wafers, offering the equivalent performance of RF switches
manufactured in Gallium Arsenide (GaAs) process technology. RF switches are expected to
replace todays PIN diodes in the next five years with an estimated market total of up to 4
billion pieces in 2011. Infineons technological breakthrough allows RF switches that are cost
efficient and up to 60 percent smaller than the smallest GaAs RF switch.
|
Security
|
|
AIM: With its SLM 76 family of security microcontrollers, Infineon entered the
machine-to-machine (M2M) communication market. This market is predicted to grow at a rate of
around 35 percent a year to a total of approximately 70 million pieces in 2011. The SLM 76
family is designed for use in utility monitoring, car telematics, fleet management in freight
forwarding and rental car companies and vending machines (stock level checks). Currently
primarily centering on automotive telematics and metering, leading smart card manufacturers
have started to develop products based on the SLM 76 or are conducting initial field tests.
|
|
|
AIM: Infineon began to supply its contactless/dual-interface security microcontrollers to
public transportation projects in China. Chinas market for transportation cards is estimated
to 20 to 30 million cards annually.
|
-15-
About Infineon
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing
three central challenges to modern society: energy efficiency, communications, and security. In the
2007 fiscal year (ending September), the company reported sales of Euro 7.7 billion (including
Qimonda sales of Euro 3.6 billion) with approximately 43,000 employees worldwide (including
approximately 13,500 Qimonda employees). With a global presence, Infineon operates through its
subsidiaries in the U.S. from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan
from Tokyo. Infineon is listed on the Frankfurt Stock Exchange and on the New York Stock Exchange
(ticker symbol: IFX). Infineon currently holds a 77.5 percent equity interest in Qimonda AG, a
leading supplier of DRAM memory products. Qimonda is separately listed on the New York Stock
Exchange under the ticker symbol QI.
DISCLAIMER
This discussion includes forward-looking statements about our future business. These
forward-looking statements include statements relating to future developments in the world
semiconductor market, including the market for memory products, Infineons future growth, the
benefits of research and development alliances and activities, our planned levels of future
investment in the expansion and modernization of our production capacity, the introduction of new
technology at our facilities, the continuing transitioning of our production processes to smaller
structure sizes, cost savings related to such transitioning and other initiatives, our successful
development of technology based on industry standards, our ability to offer commercially viable
products based on our technology, our ability to achieve our cost savings and growth targets, and
any potential disposal of our interest in Qimonda. These forward-looking statements are subject to
a number of uncertainties, including trends in demand and prices for semiconductors generally and
for our products in particular, the success of our development efforts, both alone and with our
partners, the success of our efforts to introduce new production processes at our facilities and
the actions of our competitors, the availability of funds for planned expansion efforts, the
outcome of antitrust investigations and litigation matters, the success of any corporate activities
we may undertake with respect to our interest in Qimonda, as well as the other factors mentioned
herein and those described in the Risk Factors section of the annual report of Infineon on Form
20-F filed with the U.S. Securities and Exchange Commission on December 7, 2007. As a result, our
actual results could differ materially from those contained in the forward-looking statements.
Infineon does not intend or assume any obligation to update or revise these forward-looking
statements in light of developments which differ from those anticipated.
For the Finance and Business Press:
INFXX200804.057e
|
|
|
|
|
|
|
Worldwide Headquarters:
|
|
Name:
|
|
Phone:
|
|
Email:
|
Media Relations
Investor Relations
|
|
Günter Gaugler
EU/APAC/USA/CAN
|
|
+49 89 234 28481
+49 89 234 26655
|
|
guenter.gaugler@infineon.com
investor.relations@infineon.com
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
INFINEON TECHNOLOGIES AG
|
|
Date: April 24, 2008
|
By:
|
/s/
Dr. Wolfgang Ziebart
|
|
|
|
Dr. Wolfgang Ziebart
|
|
|
|
Member of the Management Board
and Chief Executive Officer
|
|
|
|
|
|
|
By:
|
/s/ Dr. Marco Schroeter
|
|
|
|
Dr. Marco Schroeter
|
|
|
|
Member of the Management Board
and Chief Financial Officer
|
|
|
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