MUNICH, Germany In the second quarter, Melexis achieved revenues of 50,65 million (about $ 70 million), virtually on the same level as in the same quarter last year. A decline in the company's wireless business was offset by strong demand for opto products.
Sensors, the largest business segment for Melexis, accounted for 21.67 million, down 1 percent year-on-year. Actuators were up 2 percent to 17,8 million, Opto products climbed 8 percent to 7.18 million. In contrast, wireless product sales were down 9 percent to 3.35 million.
Gross margin was 21.2 percent, up 1 percent point. Nevertheless, income from operations declined 9 percent to 9.5 million. With about 45 percent of its revenues accounted in USD, the exchange rate versus the euro had a strong negative impact; without this effect the company would have earned 4 percent more than in the same quarter past year.
"The growth is not as we expected, but it is still better than in the semiconductor industry in general", commented Melexis CEO Rudi De Winter. The currency rate prompted De Winter to decrease its growth expectations to the range of 3 to 4 percent.