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Jul 25th, 2014
 
MEMSCAP: Profitability confirmed on the 2nd quarter 2014
 
Sequential growth of the consolidated revenue of 15%
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MEMSCAP (NYSE Euronext: MEMS), the leading provider of innovative solutions based on MEMS (micro-electro-mechanical systems) technology, today announced its earnings for the second quarter ending June 30, 2014.

Consolidated revenue for the second quarter of 2014 was 3.5 million euros (4.7 million US dollars) compared to 3.0 million euros (4.1 million US dollars) for the first quarter of 2014 and 4.0 million euros (5.2 million US dollars) for the second quarter of 2013. During the second quarter of 2014, the consolidated revenue benefited from the strength of all activities of the Group.

Consolidated revenue distribution by market segment, over the second quarter of 2014, is as follows.

MEMSCAP’s consolidated earnings for the second quarter of 2014 are given by the following table:

The Group’s gross margin amounted to 1.0 million euros for the second quarter of 2014, similar to the first quarter of 2014 and increasing by 28% compared to the second quarter of 2013. Consequently, the consolidated gross margin rate was 29% for the second quarter 2014, showing a n increase by 9 points compared to the second quarter of 2013.

The amount of the operating expenses , net of research & development grants, was 1 million euros for the second quarter of 2014. This level is identical to the first quarter of 2014 and decreased by 9% compared to the second quarter 2013.

The Group’s profitability was confirmed over the second quarter of 2014 versus a net loss of 0.3 million euros for the second quarter of 2013. For the first half of the year 2014, MEMSCAP presents operating and net earnings at break - even level compared to a net and operating loss of 0.7 million euros for the first half of the year 2013.

Analysis and perspectives
The first half of the year 2014 validated the actions engaged in order to improve the net income of the Company. Relying on a solid backlog at 30 June 2014, MEMSCAP will actively pursue during the coming quarter the Group's profitability improvement programs.

Half-year 2014 revenue and earnings: August 29, 2014

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.

 

 
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