- Revenues rose to $18.4 million from $10.8 million in the third quarter of 2010.
- Gross margin was 33.8% compared to 37.8% in the 2010 quarter.
- Operating expenses, including R&D expense of $2.2 million, totaled $7.3 million compared to $6.4 million in the 2010 period.
- GAAP net loss was $0.4 million, or $0.02 per diluted share, compared to net loss of $1.9 million, or $0.08 per diluted share, in the 2010 quarter. This includes stock-based compensation of $0.5 million in the 2011 period and $0.4 million in the 2010 period.
- EBITDA was $0.9 million, compared to ($1.0) million in the 2010 quarter.
- MEMSIC introduced our MXC6226XC two-axis digital accelerometer, the world’s smallest and the first wafer level packaged CMOS monolithic accelerometer. It is the most robust MEMS accelerometer that enables enhanced functionality for cost-sensitive motion sensing applications.
- MEMSIC transferred its system solution product manufacturing to its newly completed building in Wuxi in August 2011. With a total space of 14,500 square meters, the new building will facilitate the production and research and development of our wireless network and inertial products.
- Revenue is expected to be between $17 million and $19 million for the fourth quarter of 2011.
- GAAP net loss, including stock-based compensation of $0.5 million, is expected to be in the range of $0.02 to $0.04 per share for the fourth quarter of 2011.
- Average diluted share count for the 2011 fourth quarter is estimated to be approximately 24 million.
|What:||MEMSIC 3Q 2011 financial results conference call and webcast|
|When:||Tuesday, November 8, 2011|
|Time:||8:30 a.m. EST|
|Live Call:||(877) 291-1367, domestic|
|(914) 495-8534, international|
|Replay:||(855) 859-2056, pass code 19319526, domestic|
|(404) 537-3406, pass code 19319526, international|
|Webcast:||http://investor.memsic.com (live and replay)|