BRUSSELS, July 29 (Reuters) – Belgium’s Melexis (MLXS.BR) said it now expects sales to increase by 60 percent for the full-year as it sees increased demand for its microchips, which make cars more environmentally friendly.
The company, which designs and tests chips, said it had experienced its highest ever quarterly sales and its market had yet to reach its peak.
“Ramping up production output so much faster than anticipated was a substantial challenge,” Chief Executive Francoise Chombar said in a statement on Thursday.
Melexis said net income for the second quarter was 12.1 million euros ($15.75 million), beating 8.50 million expected by four analysts polled by Reuters.
It said revenue for the quarter was 55.8 million euros, beating 49.6 million expected in the poll.
When it announced its first quarter results in April it forecast that revenues would rise by over a third. [ID:nLDE63K13Z] (Reporting by Ben Deighton; Editing by Mike Nesbit) ($1=.7684 euro)