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MEMSIC Announces Second-Quarter 2012 Results

Recent Developments

  • MEMSIC’s mass flow sensor module was awarded a Best of Sensors Expo Honorable Mention by Sensors Magazine. The award was presented at the Sensors Expo & Conference in Rosemont, IL in June 2012. Winners were honored for exceptional innovation, integration and ease of use, among other factors.

Outlook

  • Revenue is expected to be between $14 million and $16 million for the third quarter of 2012.
  • GAAP net loss is expected to be in the range of $0.03 to $0.05 per share for the third quarter of 2012.
  • Average diluted share count for the 2012 third quarter is estimated to be approximately 24.5 million.

Conference Call

Management will hold a conference call and webcast at 5:00 p.m. EDT on Thursday, August 2, 2012 to review and discuss the Company's results.

What:     MEMSIC 2Q 2012 financial results conference call and webcast
When: Thursday, August 2, 2012
Time: 5:00 p.m. EDT
Live Call: (877) 291-1367, domestic
(914) 495-8534, international
Replay: (855) 859-2056, pass code 10446278, domestic
(404) 537-3406, pass code 10446278, international
Webcast:

http://investor.memsic.com (live and replay)

 

About Non-GAAP Financial Information

EBITDA is a measure used by management to evaluate the Company’s ongoing operations and as a general indicator of its operating cash flow (in conjunction with a cash flow statement that also includes, among other items, changes in working capital and the effect of non-cash charges). The Company defines EBITDA as net income, plus interest expense net of interest income, provision for income taxes, and depreciation and amortization. Management believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties in the comparative evaluation of companies. Because not all companies use identical calculations, the Company's presentation of EBITDA and EBITDA per share may not be comparable to similarly titled measures of other companies. EBITDA is not a recognized term under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Additionally, EBITDA is not intended to be a measure of free cash flow for management's discretionary use as it does not reflect certain cash requirements such as interest payments, tax payments and debt service requirements.

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