CORRECTED-Infineon sees 2014 sales, margins at upper end of target range

Tue Apr 29, 2014 1:54am EDT

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(Corrects third paragraph to show profit more than doubled, not rose by 26 percent, from a year earlier)

FRANKFURT, April 29 (Reuters) - German chipmaker Infineon said on Tuesday it now expected sales and margins to reach at least the upper end of its target range for this year on robust demand from its customers in automotive and industrial markets.

The Neubiberg, southern Germany-based company had previously said it saw revenue rising by 7-11 percent to 4.11-4.27 billion euros ($5.7-5.9 billion) in its current year ending Sept. 30, with a core operating profit margin of 11-14 percent.

Operating profit for its fiscal first quarter through June, excluding special items, more than doubled from the previous year to 146 million euros, beating even the most optimistic estimate in a Reuters poll.

($1 = 0.7223 Euros) (Reporting by Maria Sheahan, Editing by Edward Taylor)

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