Melexis Q3 2013 results - Into higher gear: Melexis first time exceeds 70 million euro quarterly sales

Intermediate declaration by the Board of Directors.
Ieper, Belgium - October 16th, 2013, 07.00 hrs CET

Sales for the third quarter of 2013 were 71.3 million EUR, an increase of 11% 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 negative impact of 3% compared to the same quarter of last year and a negative impact of 1% compared to the previous quarter.
Gross margin was 33.3 million EUR, an increase of 11% compared to the same quarter of last year and an increase of 7% versus the previous quarter.
R&D expenses were at 14.4% of sales, G&A was at 5.0% of sales and Selling remained stable at 2.7% of sales. The operating result was 17.6 million EUR, compared to 15.1 million EUR in the same quarter of 2012 and 15.3 million EUR in the previous quarter.
Net income was 15.0 million EUR, 37 cent per share, up from 30 cent per share in the third quarter of 2012 and up from 33 cent per share in the previous quarter.

Melexis expects sales in the fourth quarter of 2013 to be around the same level as the previous quarter, resulting in a FY 2013 gross profit margin above 46% and an operating margin close to 23%, taking into account a EUR/USD exchange rate of 1.35 for the remainder of 2013.

Françoise Chombar, CEO of Melexis comments:
"Melexis is shifting closer to the top end of its full year guidance. As car users' expectations for greater energy efficiency, enhanced safety and more driving fun are being geared up, so too is the car makers' demand for more sensors into their systems. It then doesn't come as a surprise that a boost in demand for different types of Melexis automotive sensors and sensor interfaces has colored the Q3 sales."

Financial Calendar

Dividend pay date: October 24, 2013 (ex coupon on October 21, 2013)

Publication FY 2013 Results: February 5, 2014

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