Group earnings in fourth quarter of 2012 fiscal year Fourth-quarter Group revenue totalled €982 million, 1 percent down from the previous quarter's €990 million. Segment result fell from €126 million in the third quarter to €116 million in the fourth quarter, resulting in a Segment Result Margin of 11.8 percent compared to 12.7 percent one quarter earlier. In addition to lower revenue, Segment Result was also negatively affected by rising production and operational costs. Income from continuing operations rose from €90 million in the third quarter to €129 million in the fourth quarter 2012. A reassessment of deferred tax assets, both inside and outside Germany, resulted in the recognition of an income tax benefit in the fourth quarter amounting to €52 million. A tax expense of €13 million was reported for the third quarter. Basic and diluted earnings per share from continued operations improved from €0.08 in the previous quarter to €0.12 in the final quarter of the 2012 fiscal year. Income from discontinued operations in the fourth quarter was positive €9 million, compared to negative €8 million reported for the third quarter. Basic and diluted earnings per share from discontinued operations improved from €0.00 to €0.01 during the last two quarters of the 2012 fiscal year. Net income rose in the fourth quarter to €138 million, up from €82 million in the previous quarter. Earnings per share went up from €0.08 to €0.13 (basic and diluted). Outlook for first quarter of 2013 fiscal year Infineon forecasts a reduction in revenue in the first quarter of the 2013 fiscal year of a low teens percentage compared to the final quarter of the 2012 fiscal year. All segments are expected to report lower revenue, with the IPC segment most affected given the weak demand for capital goods. Predominantly as a result of the drop in revenue, the Segment Result Margin is expected to come in at between 4 and 6 percent of revenue. Outlook for 2013 fiscal year Based on an assumed Euro/US dollar exchange rate of 1.25, Infineon forecasts a reduction in revenue compared to the previous fiscal year by a mid- to high-single digit percentage rate. This outlook is based on the assumption that revenue will remain at reduced levels in the first half of the year and will improve considerably in the second half. Broken down by division, the ATV, PMM and CCS segments are expected to fare better than the Group average whereas IPC is expected to fare significantly worse than the Group average. Revenue of the OOS segment will again fall sharply, as goods and services sold relating to the Wireline Communications and Wireless mobile phone businesses divested in the previous year are further phased out.