Melexis Q3 2007 results

Intermediate declaration by the Board of Directors
Ieper, Belgium - October 24th, 2007, 07.00 hrs CET

Revenues for the third quarter were 50.9 million EUR, an increase of 2 % compared to the same quarter of the previous year. Currency movements had a negative effect of 4 %. The Actuator division showed the highest increase, with revenues up 8 %.

Geographically, revenues also remain in the same range as the 3rd quarter of 2006, with a slight rise in Asian turnover.

Gross margin was 21.2 million EUR, an increase of 1 % compared to the same quarter last year. Income from operations was 9.8 million EUR, a decrease of 8 % compared to the previous year. This is the result of an increase in operating expenses, compared to flat sales. R&D expenditures were at 14.4 % of sales, while Selling and G&A rose to 8 % of sales. Net profit was 8.5 
million EUR, 20 cent per share, status quo over the same period in 2006. 

Rudi De Winter, CEO of Melexis, comments:
“Growth remains impacted by the weak dollar and weakness in consumer product sales. The automotive sales growth in the third quarter was 9%, excluding the currency fluctuations (6% including currency effects), compared to the previous year .”

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