April 22, 2004 – Higher sales volume of Infineon’s memory chips more than offset a drop in memory prices and a weak US dollar, the company said. Fiscal 2Q04 revenues were 1.671 billion euros ($1.98 billion), up 3% sequentially and 13% year on year, resulting in a profit of 39 million euros ($46.3 million), compared with 34 million euros in 1Q04 and a 328 million euros net loss a year ago.

“Profitability and efficiency in the overall business” will be the company’s top objectives through the end of the fiscal year, said chairman Max Dietrich Kley, who is serving as temporary CEO after Ulrich Schumacher stepped down in March until the company finds a permanent replacement.

Average pricing for 256Mbit DDR was $4.50 in the quarter, the same as production costs, but COO Andreas von Zitzewitz hopes to reduce the cost to less than $4 by the end of the year, according to the Associated Press.

Kley also said the company has narrowed the field of CEO candidates to two, and could make a decision as soon as July.