Infineon Tech (IFNNY) Raises Q3 Guidance
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Infineon Technologies (OTC: IFNNY) raised their guidance for the third quarter of the 2009 fiscal year.
For the current third quarter of the 2009 fiscal year Infineon now expects a Combined Segment Result approaching break-even with revenues increasing by a low-teens percentage sequentially. In addition, Infineon anticipates free cash flow to be clearly positive and foresees a gross cash position approaching Euro 850 million for the end of the quarter.
When the company originally provided the market with an outlook for the third quarter of the 2009 fiscal year on 30 April 2009, Infineon expected revenues to increase by about 10 percent sequentially with a negative mid to high single digit Segment Result margin.
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