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MEMSCAP Announces Its Second Quarter 2008 Earnings

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The Group, break even over this quarter, confirms its constant progress.




MEMSCAP, a provider of innovative
solutions based on MEMS (micro electro mechanical systems)
technology, announced its earnings for the second quarter ending June
30, 2008.




A quarterly revenue growth of over
20% in dollars year to year


The increase of the gross margin
by 3 points compared to second quarter 2007, despite the over


16 points collapse of the €/$
exchange rate over the period


Significant improvement of the
operational result


Net profitability of the Group
over the quarter






Consolidated revenue for this second
2008 quarter is 4.1 million Euro (6.5 million US dollars), compared
to 3.8 million Euro (5.6 million US dollars) in the first quarter
2008 and to 4.0 million Euro (5.4 million US dollars) for the second
quarter 2007. This amount represents a growth of over 20% in dollars
year to year, and of over 14% from one quarter to another. The Group
gross margin is 48% against 45% in the second quarter 2007, an over 3
points improvement year to year.



In parallel to this growth, operational
expenses are (2.1) million Euro, thus bringing the consolidated
operating result for this second quarter at (0.1) million Euro
compared to (0.3) million Euro for the same period 2007 and to (0.2)
million Euro for the 1st quarter 2008.



Over this second quarter 2008, the net
consolidated result is at 0, an improvement compared to first quarter
2008 and second quarter 2007 consolidated results, both at (0.2)
million Euro. This performance has been achieved by the Group despite
the nearly 16 points collapse of the €/$ exchange rate year to
year, this collapse having severely affected both the gross margin
and the operational result. The Company's two core activities,






The Norwegian subsidiary (aerospace and
medical) maintains its strong growth and achieves again the highest
quarterly revenue of its history within the MEMSCAP Group, with 2.4
million Euro (3.8 million US dollars). This revenue is split between
62% for the aerospace and 38% for the medical. Furthermore, INTUISKIN
has set up its IOMA Esthetics Concept in beauty parlours and SPAs, in
France and abroad.



Finally, the Group achieved the
following milestones over this second quarter:


The successful ending of the
HASTAC Project, whereby the Group sets the next generation


sensors platform for the next 20
years (cf. April 29, 2008 Press Release) ;


The Technical Standard Order (TSO)
Authorization and Supplemental Type Certification (STC)


from the Federal Aviation
Administration (FAA) awarded to L-3 Communications Avionics


Systems for the SmartDeck
Integrated Flight Controls and Display System, which uses


MEMSCAP TP3100 high-performance
transducers (cf. June 23, 2008 Press Release) ;


The conquest by INTUISKIN of the
Oceany market, with the choice of Advanced Skin


Technology for the distribution of
the Skin Evidence and the IOMA Medical products in


Australia and New Zealand (cf.
June 24, 2008 Press Release).



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