MEMSCAP
Consolidated revenue for the fourth quarter of 2014 was 3.6 million euros (4.5 million US dollars) compared to 2.9 million euros (3.9 million US dollars) for the fourth quarter of 2013 and 3.1 million euros (4.1 million US dollars) for the third quarter of 2014. The sales grew by 25% compared to the fourth quarter of 2013 and 17% compared to the third quarter of 2014.
Consolidated revenue distribution by market segment, over the fourth quarter of 2014, is as follows:
(Any apparent discrepancies in totals are due to rounding.)
MEMSCAP's consolidated earnings for the fourth quarter of 2014 are given by the following table:
In million euros - Non audited Q1 14 Q2 14 Q3 14
Q4 13(Any apparent discrepancies in totals are due to rounding.)
* Including the dermo-cosmetic segment.
** Net of research & development grants.
* * *
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The Group's gross margin amounted to 1.2 million euros for the fourth quarter of 2014, increasing by 0.5 million euros compared to the fourth quarter of 2013 and 0.3 million euros compared to the previous quarter. Thus, the gross margin rate was 33% of the consolidated revenue for the fourth quarter of 2014 benefiting from the growth of the Group's sales. The gross margin rate increased by 8 points compared to the fourth quarter of 2013 and 4 points compared to the previous quarter.
The amount of the operating expenses, net of research & development grants, was 0.8 million euros for the fourth quarter of 2014. Operating expenses decreased by 0.3 million euros compared to the fourth quarter of 2013 and by 0.1 million euros compared to the previous quarter.
Due to the significant increase of the consolidated gross margin, the operating profit amounted to 0.4 million euros for the fourth quarter of 2014 compared to an operating loss of (0.3) million euros for the fourth quarter of
2013 and operating earnings at break-even level for the previous quarter.
The financial loss for the fourth quarter of 2014 amounted to (0.2) million euros and mainly included foreign currency impact related to hedging instruments on Group's sales.
The net profit for the fourth quarter of 2014 was 0.2 million euros compared to net earnings at break -even level for the previous quarter and a net loss of (0.3) million euros for the fourth quarter of 2013.
Thanks to the sales growth and to the actions performed in order to improve the profitability of the Group, MEMSCAP achieved an operating profit of 0.4 million euros and a net profit of 0.2 million euros during the fourth quarter of 2014.
"At the end of the fiscal year 2013, the Group announced it would focus on improving its net earnings. Over the last
12 months, the significant enhancement of MEMSCAP's performance resulted from a business strategy centered on
high-added value market segments and productivity gains achieved by the production entities of the Company. MEMSCAP will pursue this strategy during the coming fiscal year by focusing on its mission of enhancing human life by its outstanding technical achievements", says Jean Michel Karam, Chairman of the Board and Chief Executive Officer.
FY 2014 earnings: March 23, 2015.About MEMSCAP
MEMSCAP is the leading provider of innovative micro-electro-mechanical systems (MEMS)-based solutions. MEMSCAP standard and custom products and solutions include components, component designs (IP), manufacturing and related services. MEMSCAP customers include Fortune 500 businesses, major research institutes and universities. The company's shares are traded on the Eurolist of NYSE Euronext Paris (ISIN: FR0010298620-MEMS) and belong to the CAC small, CAC Mid & Small, CAC All-Tradable and CAC All-Share indexes. More information on the company's products and services can be obtained at www.memscap.com.
For more information, please contact:
Yann Cousinet
CFO
Ph: +33 (0) 4 76 92 85 00
Email: yann.cousinet@memscap.com
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