Chip maker Infineon on Nov. 16 posted a healthy profit for its fiscal year 2010 and rewarded its shareholders by paying out its first dividend for nine years. Profits for the fiscal year to September 2010 were 659 million euros (US$895 million), the technology giant said, compared to a loss of 626 million euros the year before.
Annual sales hit 3.3 billion euros, up by more than 50% over the year. Fourth-quarter sales were 942 million euros.
"The company's growth during this upcycle remains significantly ahead of the market and our profitability has risen yet again," said Peter Bauer, Infineon's chief executive.
Shareholders received a dividend of 0.10 euros per share due to the firm's "favourable operating performance" and "comfortable cash position," the statement added.
Infineon said it expected sales growth of "close to 10%" in 2011, depending on exchange rate developments.
It said the first quarter of the new fiscal year would be "flat to down slightly" compared to the fourth quarter of 2010.
Copyright Agence France-Presse, 2010