Infineon sticks to mid-term 15 pct oper. margin target

FRANKFURT Thu Jan 31, 2013 5:09am EST

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FRANKFURT Jan 31 (Reuters) - Infineon still targets a 15 percent operating margin for the mid-term and through the chip cycle, its financial chief said on Thursday.

For the current fiscal year Infineon expects its operating margin to come in at 5-9 percent, down from 13.5 percent in the year through September.

CFO Dominik Asam also said operating margins for its automotive unit, which accounts for 40 percent of its business, would not return to double digits in the current quarter.

During the first quarter operating margins for automotive dropped to 5.3 percent, from 11.3 percent in the fourth quarter of the fiscal year ending Sept. 30. (Reporting by Harro ten Wolde)

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