Sales of International Rectifier products and growing demand for chip card and security products have boosted Infineon's performance in the second quarter of its 2015 financial year.Sales of International Rectifier products and growing demand for chip card and security products have boosted Infineon's performance in the second quarter of its 2015 financial year.
Sales of International Rectifier products and growing demand for chip card and security products have boosted Infineon's performance in the second quarter of its 2015 financial year.
According to figures released by the company, revenues jumped by 31% to $1.48billion and it expects Q3 revenues to increase by between 7 and 11% over Q2.
"Infineon has recorded a big revenue jump in the second quarter, said CEO Dr Reinhard Ploss, pictured. "Business was running very well, with additional tailwinds provided by the acquisition of International Rectifier
and the strong dollar. The signals we are receiving from our markets are generally positive. We are making good progress with the integration of International Rectifier. Our strategy is paying off and Infineon remains on a growth path."
Product divisions all reported strong performances. Automotive sales grew by 24% compared to the same period last year, while industrial power control product revenues grew by 30% over the same period. Sales of power management and multimarket products were up by 84%, while chip card and security revenues increased by 50%.
Revenues from International Rectifier products were recognised in the automotive, industrial and power management and multimarket sectors, with the 84% boost in the latter's sales due mainly to the acquisition.
Author
Graham Pitcher
Source: www.newelectronics.co.uk