PARIS Memscap SA, French provider of micro-electromechanical systems (MEMS), published consolidated revenues of 2.4 million euros ($3.58 million) for the third quarter of financial year 2009, ending Sept. 30, 2009. This compares to revenues of 2.2 million euros ($3.29 million) for the second quarter and 4.1 million euros ($6.13 million) for the third quarter of 2008.
For the third quarter of 2009, Memscap (Grenoble, France) reported a consolidated operating loss of 0.9 million euros ($1.34 million), compared to a loss of 2.2 million euros ($3.29 million) for the second of 2009. The company's net loss amounted to 0.9 million euros ($1.34 million), versus a net loss of 2.1 million euros ($3.14 million) in the second quarter of 2009.
Memscap said this relative improvement results can be explained by the cost reduction initiated by the group at the beginning of the year.
The MEMS provider specified that the Standard Product business unit was impacted by a lower than expected revenue due to purchase orders' postponement in the aerospace field. The Custom Products business unit, however, experienced a strong impetus with a 73 percent revenue increase in US dollars.
Looking ahead, Memscap said it expects that business improvement continues over the fourth quarter of 2009. It, however, maintains its cost reduction plan "as the global economic environment remains uncertain."
Note that the Grenoble-based company expressed the exact same predictions, using identical words, for the third quarter of 2009.