Infineon Reports Profits, Improved Conditions

German computer chip maker Infineon Technologies reported a modest €34 million ($42 million) profit in the last three months of 2003 as orders for semiconductor industry products continued to grow. On the reverse side, low chip prices and a weak dollar kept profits in check, the company said on Monday. The results are good news for the Munich-based company, which suffered a €40 million loss in the first quarter a year ago. Overall sales for 2003 were up by 13 percent to €1.62 billion. Infineon CEO Ulrich Schumacher said he saw "positive business development for the current fiscal year," but did not go into more detail. "Despite continued price decline and the weakening dollar, we made full use of productivity and cost advantages," he said in a statement. The weaker dollar cuts revenues from sales in dollars when they are converted back into euros.