Melexis fourth-quarter sales beat expectations

BRUSSELS Wed Feb 5, 2014 1:24am EST

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BRUSSELS Feb 5 (Reuters) - Belgium's Melexis, which designs chips for the automotive industry, posted fourth-quarter sales above expectations on Wednesday as it gained market share and launched new products.

Sales rose by 21 percent in the fourth quarter to 75.1 million euros ($101.46 million), more than the 71 million euros expected in a Reuters poll of four analysts and above its own guidance.

Melexis said it expected sales in the first quarter of 2014 to be in line with the fourth quarter, meaning it would generate 300 million euros of sales and a gross profit margin above 45 percent for the year as a whole. ($1 = 0.7402 euros) (Reporting by Robert-Jan Bartunek; Editing by Andrew Heavens)

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