Melexis : Q1 above expectations, but Q2 guidance below, visibility still unclear for the rest of the year
>Q1 2019 results above expectations - Q1 2019 sales came out at € 116.5m (consensus € 114.9m), down 18% q-o-q and 16% y-o-y. €/$ had a positive impact on sales of 3% compared to the same quarter of last year and no impact compared to the previous quarter. Gross margin was 40.1%, below consensus expectations of 41.2%. EBIT came in at € 15.7m, implying a 13.5% operating margin (vs consensus of € 15.1m and 13%). Net profit was € 13.9m, down 51% q-o-q and down 52% y-o-y, ...Melexis designs, develops, tests and markets advanced integrated circuits primarily for the automotive industry. Co. sells its products to a wide customer base in the automotive, medical and industrial markets in Europe, Asia and North America. Co.'s main products are Hall effect ICs, Pressure and Acceleration Sensors, Sensor Interface ICs, Automotive Systems-on-a-Chip, Embedded Microcontrollers, Bus System Chips, Optical and Infrared sensors. In each case the products are primarily developed for automotive applications and designated lead customers with subsequent use in commercial and industrial applications.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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