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German semiconductor maker Infineon Technologies said Wednesday that a write-down on its stake in Qimonda and lower chip prices on the global market combined to widen its fourth-quarter loss, the seventh in a row. Infineon said it lost $968.8 million in the fourth quarter that ended Sept. 30 compared with a $354.5 million loss a year earlier. The company’s quarterly sales, though, managed to rise 2 percent to nearly $1.5 billion compared with $1.4 billion a year ago. Investors reacted bitterly, pushing Infineon shares down 25 percent in Frankfurt trading to $1.57.

Read more:
Infineon Q4 Losses Near $1B on Chip Market, Qimonda Woes

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This entry was posted on Wednesday, December 3rd, 2008 at 5:16 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.