Belgium's Melexis forecasts Q3 sales in line with expectations
Melexis, Belgium's largest semiconductor supplier, forecast third-quarter sales in line with expectations on Wednesday after second-quarter sales marginally beat estimates, driven by demand for premium automotive equipment. The company, which supplies mostly to automotive customers, reported sales rose 4% year-on-year to 245.7 million euros ($266 million) in the second quarter, slightly ahead of the 244.2 million expected by analysts in a company-provided poll. Its earnings before interest and taxes (EBIT) margin reached 26.2% in the period, also beating analysts' expectations of 24.7%, per the company-provided poll.