AMDTERDAM: Infineon Technologies adjusted earnings of €0.21 per share in fourth-quarter fiscal 2016, which increased 10.5% from the year-ago quarter. Including stock-based compensation, the company reported 23 cents in the quarter, which missed the Zacks Consensus Estimate by couple of cents.
Revenues increased 4.8% year over year to €1.67 billion in the quarter. In dollar terms, revenues were $1.87 billion, which missed the Zacks Consensus Estimate of $1.89 billion. The top-line growth came on the back of strong sales in two of the company’s four business segments, namely, Automotive and Industrial Power Control.
Meanwhile, earnings increased 26.7% to €0.76 per share in fiscal 2016, driven by 11.7% growth in revenues, which totalled €6.47 billion. Organic revenue growth over the last 12 months amounted to 7%.
Automotive revenues increased 12.6% year over year to €690 million. The year-over-year growth was driven by higher global vehicle production, particularly, continued strong demand in the premium segment. Further, Radar-based solutions for driver assistance systems and products deployed in hybrid and electric vehicles continued to sell well during the quarter.
Notably, demand for Infineon’s 77-gigahertz radar solutions for advanced driver assistance systems was strong throughout the year. The company is the leading supplier for the most important manufacturers of radar systems in Europe, North America and Asia.
In fiscal 2016, Infineon sold more than 12 million of 77-gigahertz radar chips – much higher than in the previous six years combined.
