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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63073)	4/23/2002 4:14:51 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Infineon Reports Second-Quarter Loss of EU108 Million (Update2) By Hellmuth Tromm quote.bloomberg.com Munich, April 23 (Bloomberg) -- Infineon Technologies AG, Europe's second-largest chipmaker, posted a smaller-than-expected loss of 108 million euros ($96 million) in its fiscal second quarter and said it sees signs that demand is recovering. Infineon had a loss per share of 16 cents in the period ended March 31 after a profit of 23 million euros, or 4 cents per share, a year earlier. Analysts surveyed by Bloomberg News were expecting a quarterly loss of about 178 million euros. Chipmakers suffered their worst slump last year as demand from customers including Dell Computer Corp. and Siemens AG declined. Chief Executive Officer Ulrich Schumacher announced 5,000 job cuts to reduce costs, and today he said demand is picking up. The shares rose as much as 4.5 percent. ``The company has a lot more reason to be optimistic,'' said Theo Kitz, an analyst at Merck Finck & Co. in Munich. He rates the stock ``outperformer.'' The shares gained as much as 1.03 euros to 24.18 euros, valuing the company at about 16.7 billion euros.