Melexis Q2 2012 results - Melexis first time exceeds 60 million euro quarterly sales
August 1, 2012 - Ieper, Belgium
Intermediate declaration by the Board of Directors.
Ieper, Belgium - August 1st, 2012, 07.00 hrs CET
Half-year sales were 120.6 million EUR, an increase of 3% compared to the first half year 2011. Gross margin was 56.3 million EUR, an increase of 5% compared to the same period last year. The operating result was 27.1 million EUR, compared to 27.0 million EUR the same half year of 2011. Net income was 22.8 million EUR, compared to 22.3 million EUR in the first half year 2011.
Sales for the second quarter were 62.1 million EUR, an increase of 8% compared to the same quarter of the previous year and an increase of 6% versus the previous quarter. The EUR/USD exchange rate evolution had a positive impact of 5% compared to the same quarter of last year and had no impact compared to the previous quarter. Gross margin was 29.1 million EUR, an increase of 9% compared to the same quarter of last year and increase of 7% versus the previous quarter. The operating result was 13.9 million EUR, compared to 12.8 million EUR in the same quarter of 2011 and 13.2 million EUR in the previous quarter. Net income was 11.8 million EUR, 29 cent per share, up from 25 cent per share in the second quarter of 2011 and 25 cent in the previous quarter. R&D expenses were at 16% of sales, Selling was at 3.5% and G&A was at 5% of sales.
Melexis purchased 28.315 shares during the second quarter of 2012 at an average price of 11.93 EUR. As a result, the total number of shares at the end of the second quarter of 2012 was 306.005, representing 0.76% of shares outstanding.
The Board of Directors decided to pay out an interim dividend of 0,65 EUR gross per share. The Melexis shares will start trading ex coupon on October 22, 2012 (opening of the market). The record date is October 24, 2012 (closing of the market) and the dividend will be payable as from October 25, 2012.
We anticipate sales in the third quarter of 2012 to increase by 4-5% compared to the second quarter.
For 2012, taking into account the current EUR/USD exchange rate, we expect high single digit growth in
sales and our gross profit and operating margin as percentage of sales to be around the same level as
Françoise Chombar, CEO of Melexis comments:
"While demand in Europe has been pretty stable, we noticed a boost of our sales in Asia, with a traction coming mainly from automotive. The healthy geographical spread of our customer base clearly represents an asset to Melexis."
Karen van Griensven, CFO of Melexis adds:
"“Earnings per share increased year on year by 16% in the second quarter. This is the combined result of the improved financial performance and the cancellation of own shares. Melexis will continue to reward its shareholders by distributing dividends and by performing share buybacks."
Publication Q3 2012 Results: October 17, 2012
Publication FY 2012 Results: February 6, 2013
The company's results will be discussed in a conference call on Wednesday, August 1st, 2012 at 17 hrs CET. The conference call will be in English. You have to register for this conference call in advance. You can register by clicking on the following link and filling out the requested information:
Conference ID: 919749.
After registration, you will receive the conference call number, a participant user pin, conference pin and instructions on how to join the conference call. For security purposes all participants must register individually if they wish to join the call. A replay number for this call is available for 7 days after the end of the conference call. The replay number for this call is +32 2 290 17 05, access code: 919749.
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