Qimonda swings into Q1 net profit; sees strong FY production growth |
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Wed, 24 Jan 2007 07:18
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LONDON (AFX) - DRAM memory products maker Qimonda AG said it has achieved a strong increase in profits in the first quarter compared to a year earlier, adding it expects to substantially boost production in the remainder of the year in line with the expanding wider market.US-listed Qimonda is 86 pct owned by Infineon AG, having been spun off by the German tech group last year.In the three months to Dec 31, Qimonda made a net profit of 177 mln eur compared to a net loss of 127 mln eur in the first quarter a year ago, while sales grew 73 pct to 1.17 bln eur.First quarter EBIT was 250 mln eur compared to an EBIT loss of 123 mln previously.Looking ahead, Qimonda expects its 'bit' production to grow between 8-12 pct in the second quarter of the 2007 financial year, adding it expects to maintain its share of bit-shipments to non-PC applications significantly above 50 pct in the second quarter.For the full year, Qimonda expects market growth -- measured in bits -- to be between 55 and 65 pct, and the company intends to increase bit production in line with this overall market growth.newsdesk@afxnews.comtcCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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