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Technology Stocks : Infineon Technologies

IFNNY 39.91

+0.6%

Nov 3 3:59 PM EST

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To: Number 4 who wrote ()	7/22/1999 5:58:00 AM
From: Number 4	of 50

Infineon makes a profit when Micron fails! or the accounts department of Siemens Bank in Munich are hiding some of the losses until they put this dog onto the market.... Siemens 3rd-Qtr Net Rises 17% on Chip Unit's Profit Nuremberg, July 22 (Bloomberg)-- Siemens has already broken off its computer chip unit, which lost 1.2 billion marks in fiscal 1998, into a separate division named Infineon. In the third quarter, the unit returned to profit with operating income of 41 million marks [$22 million], although for the nine-month period it still had an operating loss of 62 million marks and the company said it would be ``slightly' unprofitable for the full year. It plans to sell 25 percent of Infineon at the end of next February or early March. Infineon's sales rose 24 percent to 6 billion marks in the first nine months while orders rose 28 percent to 6.8 billion marks. Siemens shifted its focus toward higher-margin chips for the telecommunications and automotive industries to protect itself from volatility of the memory chip market. Global semiconductor sales are set to rise 12.1 percent this year to $140.8 billion, marking the first time the industry will post double-digit growth since 1995, according to the Semiconductor Industry Association. Siemens said it will sell shares in its components joint venture with Matsushita Electric Industrial Co., in late October. It will list shares in its chip unit and the components venture in Frankfurt and on the New York Stock Exchange. The company said it expects ``double digit' sales growth for fiscal 1999, with earnings growth outpacing sales. Third-quarter orders rose 15 percent to 32.3 billion marks.

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