Infineon Posts Unexpected Loss | Business| Economy and finance news from a German perspective | DW | 20.07.2004
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Infineon Posts Unexpected Loss

German computer chip maker Infineon Technologies on Tuesday reported an unexpected loss of €56 million ($69 million) for the third quarter in this year. The Munich-based company cited an increased fine for a European Union antitrust investigation and other potential lawsuits. The loss came despite increasing sales because the chip maker raised the amount it set aside to cover liability from the antitrust probe, to €212 million from €28 million. Infineon's Interim CEO Max Dietrich Kley said the antitrust charges ruined what would have otherwise been a profitable quarter, the company's fiscal third. "Our third quarter results confirm that Infineon is well on track," Kley said. "The accrual for the antitrust matters unfortunately pushed the net results into the negative, which masks the results of what was otherwise a very successful quarter for us."