Melexis Q1 2006 results

Intermediate declaration by the Board of Directors
Ieper, Belgium - May 3rd, 2006, 07.00 hrs CET

Revenues for the first quarter were 51.2 million EUR, an increase of  28 % compared to the same quarter of the previous year. 
Gross margin was 21.5 million EUR , an increase of 29 % compared to the same quarter last year.

The operating result was at 11.3 million EUR, an increase of 43% compared to the same quarter the previous year.
Net profit was 8.7 million EUR, 20 cent per share, an increase of 28 % over the same quarter in 2005.
R&D expenses were at 13.3 % of sales, Selling and G&A were stable at 7 % of sales.
At the end of January 2006, Melefin NV, a daughter company of Melexis NV, sold Melexis Tessenderlo NV to Melexis GmbH. This purchase is financed by a long term bank loan for an amount of 75 million EUR.
For the second quarter 2006, we expect sales to be stable compared to the first quarter. 

Rudi De Winter comments :

"I am very glad with this exceptional growth 
of 7% sequentially and  28% year on year. We realized growth in all business divisions and Melexis is growing  both in the automotive and non-automotive segment.
Melexis will continue its strategy to invest in automotive innovative products such as contactless sensing technologies. We want to further increase market share with high added value products that have long product cycles."