MEMSIC Reports Another Quarter Of Record Revenues

Pursuant to the requirements of Regulation G, we have provided a reconciliation of EBITDA to GAAP net income as an exhibit to this release.

About MEMSIC, Inc.

MEMSIC, Inc., headquartered in Andover, Massachusetts, provides advanced semiconductor sensors and multi-sensor system solutions based on micro-electromechanical systems (MEMS) technology and sophisticated integration technologies in both the IC level and module level. MEMSIC's unique and proprietary approach combines leading-edge sensor technologies, such as magnetic sensors and accelerometers, with mixed signal processing circuitry to produce reliable, high quality, cost-effective solutions for the mobile phone, automotive, consumer, industrial, and general aviation markets. The company’s shares are listed on the NASDAQ Stock Exchange (NASDAQ GM: MEMS).

Safe Harbor Statement

Statements included in this press release that are not historical in nature are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements for reasons identified under the heading "Risk Factors" in the company's most recent annual report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof, and the company does not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information or otherwise.

MEMSIC, Inc.
CONSOLIDATED BALANCE SHEETS
		December 31,				December 31,
			2011				2010
ASSETS
Current assets:
Cash and cash equivalents		$	51,914,128			$	55,694,205
Restricted cash			3,791,189				2,928,933
Short-term investments			6,814,728				-
Accounts receivable, net of allowance for doubtful accounts of$6,441 as of December 31, 2011 and December 31, 2010			6,068,904				3,664,444
Inventories			11,459,153				8,923,127
Other assets			2,050,787				2,537,445
Total current assets			82,098,889				73,748,154
Property and equipment, net			30,998,489				22,015,502
Long-term investments			2,600,000				5,020,000
Goodwill			606,976				4,919,513
Intangible assets, net			11,091,532				11,894,328
Other assets			136,633				67,599
Total assets		$	127,532,519			$	117,665,096
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	8,439,605			$	4,563,420
Accrued expenses			2,630,966				2,969,839
Advance research funding			3,791,189				2,928,933
Current portion of long-term debt			500,000				-
Total current liabilities			15,361,760				10,462,192
Note payable to bank, net of current portion			17,430,000				17,930,000
Building liability			8,161,288				-
Other liabilities			124,180				90,036
Total other liabilities			25,715,468				18,020,036
Stockholders’ equity:
Common stock, $0.00001 par value; authorized, 45,000,000 shares;23,983,813 and 23,810,613 shares issued and outstanding at
December 31, 2011 and December 31, 2010, respectively			240				238
Additional paid-in capital			101,266,272				99,615,378
Accumulated other comprehensive income			4,363,930				3,029,372
Accumulated deficit			(19,908,135	)			(13,823,565	)
MEMSIC, Inc. stockholders' equity			85,722,307				88,821,423
Non-controlling interest related to joint ventures			732,984				361,445
Total stockholders' equity			86,455,291				89,182,868
Total liabilities and stockholders’ equity		$	127,532,519			$	117,665,096

MEMSIC, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
		Three Months Ended December 31,								Year Ended December 31,
			2011				2010				2011				2010
Net sales		$	21,468,278			$	11,439,239			$	68,153,132			$	38,651,577
Cost of goods sold			13,770,585				6,741,931				44,313,782				23,326,823
Gross profit			7,697,693				4,697,308				23,839,350				15,324,754
Operating expenses:
Research and development			1,943,356				2,311,587				8,553,569				8,697,981
Sales and marketing			2,016,409				1,535,130				6,892,303				5,092,353
General and administrative			2,781,135				2,015,663				10,354,798				8,546,722
Amortization expense			415,690				408,109				1,627,692				1,549,377
Goodwill impairment charge			4,492,000				-				4,492,000				-
Total operating expenses			11,648,590				6,270,489				31,920,361				23,886,433
Operating loss			(3,950,897	)			(1,573,181	)			(8,081,011	)			(8,561,679	)
Other income:
Interest and dividend income			102,572				122,365				437,655				442,167
Foreign exchange gain			305,708				322,480				1,153,822				682,290
Other, net			158,481				62,439				564,489				132,992
Total other income			566,761				507,284				2,155,965				1,257,449
Earnings (loss) before income taxes			(3,384,136	)			(1,065,897	)			(5,925,046	)			(7,304,230	)
Provision for (benefit from) income taxes			(95,256	)			73,474				77,397				(5,628	)
Net income (loss)			(3,288,880	)			(1,139,371	)			(6,002,443	)			(7,298,602	)
Less: net income attributable tononcontrolling interest			(9,558	)			(1,982	)			82,127				64,111
Net income (loss) attributable toMEMSIC, Inc.		$	(3,279,322	)		$	(1,137,389	)		$	(6,084,570	)		$	(7,362,713	)
Net income (loss) per common shareto MEMSIC, Inc.:
Basic		$	(0.14	)		$	(0.05	)		$	(0.26	)		$	(0.31	)
Diluted		$	(0.14	)		$	(0.05	)		$	(0.26	)		$	(0.31	)
Weighted average shares outstandingused in calculating net income (loss)
per common share:
Basic			23,825,134				23,806,564				23,827,937				23,803,414
Diluted			23,825,134				23,806,564				23,827,937				23,803,414

MEMSIC, Inc.
Reconciliation of Net Loss to Earnings Before Interest, Taxes and Depreciation and Amortization (EBITDA)
(Unaudited)
			Three months ended December 31,								Year ended December 31,
				2011				2010				2011				2010
Net loss			$	(3,279,322	)		$	(1,137,389	)		$	(6,084,570	)		$	(7,362,713	)
Interest (income) expense, net				(102,572	)			(122,365	)			(437,655	)			(442,167	)
Income tax expense (benefit)				(95,256	)			73,474				77,397				(5,628	)
Depreciation and amortization				1,208,787				1,039,749				4,742,190				3,862,416
EBITDA			$	(2,268,363	)		$	(146,531	)		$	(1,702,638	)		$	(3,948,092	)

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