Infineon Beats Estimates, Will Pay Dividend
NEUBIBERG, Germany ( TheStreet) -- Infineon (IFX), the German chipmaker and Europe's second-largest, said Tuesday fiscal fourth-quarter earnings rose to €390 million ($530.6 million) from €11 million last year as revenue soared.
Infineon said the latest quarter included a non-recurring benefit of €69 million from deferred tax assets.
Analysts surveyed by Bloomberg had estimated Infineon would earn €216.2 million in the quarter.
Revenue in the quarter rose 55% to €942 million from €609 million. Infineon forecasts fiscal 2011 revenue to grow towards 10%.Infineon said it will propose a dividend of €10 cents a share for the financial year "in recognition of the company's favorable operating performance in the 2010 fiscal year and its comfortable cash position." -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV