MEMSCAP REGPT : MEMSCAP REPORTS Q1 2012 EARNINGS
04/25/2012| 02:25pm US/Eastern
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Consolidated revenue for the first quarter 2012 was 3.2
million euros (4.2 million US dollars) compared to 2.5
million euros (3.4 million US dollars) for the first quarter
2011 and 3.0 million euros (4.1 million dollars) for the
fourth quarter 2011. The revenue of the first quarter 2012 is
therefore increasing by 29% compared to Q1 2011 and confirms
the sales recovery of the Group that was initiated during the
previous quarter.
Consolidated revenue distribution by market segment, over the
first quarter 2012, is as follows:
Market Segments Revenue (M€) % Aerospace 1.3 40%
Optical Communications / Adaptive Optics 0.8 25% Medical /
Biomedical 0.6 20% Other Applications 0.5 15% Total
3.2 100%
(Any apparent discrepancies in totals are due to rounding.)
In accordance with the level of sales volum, MEMSCAP's gross
margin rate for the first quarter 2012 ended at 35%
of the revenue, compared to 30% for the first quarter 2011
and 35% for the fourth quarter 2011.
For the first quarter 2012, MEMSCAP reported operating
earnings at break-even point, at the same level than the
fourth quarter 2011, and showing a strong increase compared
to the (0.4) million euro operating loss reported for the
first quarter 2011.
Net loss for the quarter amounted to (0.1) million euros,
which is similar to the fourth quarter 2011 net result and is
to be compared to the (0.4) million euro net loss for the
first quarter 2011.
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MEMSCAP's consolidated earnings for the first quarter of 2012
are given by the following table:
|
In million euros - Non audited Q4 11
|
Q1 12
|
Q1 11
|
|
Revenue 3.0 3.2 2.5
|
|
- Standard Products 1.8
- Custom Products 1.2
Cost of revenue (2.0)
|
1.8
1.4
(2.1)
|
1.6
0.9
(1.7)
|
|
Gross margin 1.1 1.1 0.7
|
|
% of revenue 35%
Other income -- Operating expenses (1.1)
|
35%
|
30%
0.1 (1.3)
|
|
% of revenue 35%
Other income -- Operating expenses (1.1)
|
--
(1.2)
|
30%
0.1 (1.3)
|
|
Operating profit / (loss) 0.0 0.0 (0.4)
|
|
Financial profit / (loss) (0.1) Income tax expense --
|
(0.1)
--
|
--
--
|
|
Net profit / (loss) (0.1) (0.1) (0.4)
|
(Any apparent discrepancies in totals are due to rounding.)
Analysis and perspectives
MEMSCAP's earnings for the first quarter of 2012 validate
sales recovery observed during the fourth quarter of
2011, especially on both avionics and optical communications
market segments. The consolidated revenue
experiences a sequential quarterly growth thanks to the
development of new applications.
In addition, the success of the rights issue transaction,
finalized on February 7 2012 for an amount of 1.2 million
euros, allows the Group to accelerate its current development
programs in its core businesses.
MEMSCAP general shareholders' meeting will take place on June
28 2012, at 4:00 PM, in Bernin (38 - France)
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 S.A (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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