By Mauro Orru 
 

Infineon Technologies AG said Thursday that it is withdrawing its guidance for fiscal 2020 due to coronavirus uncertainty.

The German chip maker said implications on sales and earnings for the year ending September can't be reliably assessed or quantified at this stage.

Infineon was previously expecting revenue growth by 5% year-on-year, plus or minus two percentage points.

The company said the pandemic could "lead to a noticeable decline in revenue" compared to the previous fiscal year, weighing on profitability.

Infineon said it expects revenue for the quarter ending on March 31 to come in around the lower end of the guided range, adding that disruptions caused by containment measures will harm the second half of the year.

The company said it expects to provide an update on May 5.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

March 26, 2020 09:05 ET (13:05 GMT)

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