Melexis Q1 2013 results - Spiriting up for the year

Intermediate declaration by the Board of Directors.
Ieper, Belgium - April 24th, 2013, 07.00 hrs CET

Sales for the first quarter were 61.9 million EUR, an increase of 6% compared to the same quarter of the previous year and flat compared to the previous quarter. The EUR/USD exchange rate evolution had a negative impact of 2% compared to the previous quarter.
Gross margin was 28.2 million EUR, an increase of 3% compared to the same quarter last year.
The operating result was 12.7 million EUR, compared to 13.2 million EUR in the same quarter of 2012, a decrease of 3%.
R&D expenses were at 17% of sales, Selling remained stable at 3% of sales and G&A was at 6% of sales.
Net income was 11.2 million EUR, 28 cent per share, up from 25 cent per share in the first quarter of 2012.

We expect sales in the second quarter of 2013 to be around the level of 65 million EUR.
For FY 2013, Melexis expects to achieve mid to high single digit growth in sales, a gross profit margin above 45% and an operating margin above 21%, taking into account a EUR/USD exchange rate of 1.30.

Françoise Chombar, CEO of Melexis comments:
"The first quarter turned out a tiny bit better than we had expected. All indicators seem now headed for growth for the rest of the year. Inventories in the supply chain look to have bottomed out at this point and as a consequence our sales in March already experienced the corresponding traction."

Financial Calendar

Analyst Meeting: June 18, 2013

Publication Q2/HY1 2013 Results: July 31, 2013

Publication Q3 2013 Results: October 16, 2013

Publication FY 2013 Results: February 5, 2014

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