PARIS Memscap SA, French provider of micro-electromechanical systems (MEMS), published a consolidated revenue of 7.9 million euros ($12.1 million) for the first half of 2008. This compares to a revenue of 7.3 million euros ($9.8 million) for the same period last year. In dollars, the year-over-year growth amounted to 24 percent.
For the first half of 2008, Memscap (Bernin, France) reported a gross margin of 49 percent, representing a year-to-year improvement of 7 points.
Similarly, Memscap announced its operating loss improved from 1.2 million euros for the first half of 2007 to 0.4 million euros for the first half of 2008, despite a 15-percent degradation of the euro/dollar exchange rate. The consolidated net loss improved from 0.9 million euros for the first half 2007 to 0.3 million euros for the same period in 2008.
Mid-2008, the French group noted that its available cash amounted to 4.6 million euros. It also has available non-used credit lines for a total amount of 2.3 million euros, representing usable cash of around 7 million euros.
Finally, Memscap said it held, on June 30, 2008, differed tax assets not recorded in its balance sheet for over 45 million euros.
Interviewed by EE Times Europe in April, Jean-Michel Karam, Memscap's president and CEO, indicated that for the year 2008, analysts said they anticipate the gross margin will represent about 50 percent of revenue. Similarly, the operational profit should be in the range of 1.8 million euros and 2.1 million euros. The net profit is expected to exceed 2.5 million euros to 3.2 million euros.