MEMSCAP Q1 2016: Quaterly EBITDA at Eur.0.2 Million

Regulatory News:

Memscap (Paris:MEMS) (NYSE Euronext: MEMS), the leading provider of innovative solutions based on MEMS (micro-electro-mechanical systems) technology, today announced its earnings for the first quarter ending March 31, 2016.

Analysis of the consolidated income statement

Consolidated revenue for the first quarter of 2016 was 2.8 million euros (3.1 million US dollars) similar to the consolidated sales for the fourth quarter of 2015 at 2.8 million euros (3.0 million US dollars) and compared to 3.4 million euros (3.8 million US dollars) for the first quarter of 2015. The good performance of the avionics and optical communications market segments offset a temporary weaker demand observed on the medical / biomedical market segment.

Consolidated revenue distribution by market segment, over the first quarter of 2016, is as follows:

MEMSCAP’s consolidated earnings for the first quarter of 2016 are provided in the following table:

The Group’s gross margin rate was 35% of the consolidated revenue, increasing by 2 points compared to the fourth quarter of 2015 and decreasing by 3 points compared to the first quarter of 2015. The gross margin for the first quarter of 2016 amounted to 1.0 million euros versus 0.9 million euros for the fourth quarter of 2015 and 1.3 million euros for the first quarter of 2015.

Operating expenses amounted to 1.0 million euros in line with the previous quarters. Consequently, the MEMSCAP’s operating and net earnings were break-even over the first quarter of 2016, at a similar level to the fourth quarter of 2015 and compared to an operating profit of 0.3 million euros and a net profit of 0.2 million euros for the first quarter 2015.

In line with the 2 previous fiscal years, the focus on the high added-value market segments and the control of the productivity of the manufacturing entities of the Group enable MEMSCAP to present an EBITDA at 0.2 million euros over the first quarter of 2016, similar to the fourth quarter of 2015. MEMSCAP intends to pursue its strategy based on the development of a profitable growth.

MEMSCAP general shareholders’ meeting: May 6, 2016.

Q2 2016 earnings: July 22, 2016.

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. MEMSCAP customers include Fortune 500 businesses, major research institutes and universities. The company's shares are traded on the Eurolist of NYSE Euronext Paris S.A (ISIN: FR0010298620-MEMS) and belong to the CAC small, CAC Mid & Small, CAC All-Tradable and CAC All-Share indexes. More information on the company's products and services can be obtained at www.memscap.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160418006423/en/