CML Microsystems PLC Interim Management Statement (7356N)

TIDMCML

RNS Number : 7356N

CML Microsystems PLC

30 July 2014

CML Microsystems Plc

Interim Management Statement

CML Microsystems Plc, which designs, manufactures and markets a broad range of semiconductors, primarily for global communication and data storage markets, today held its Annual General Meeting at Layer Marney Tower, Essex.

Subsequent to the formal proceedings of the AGM and as required by the UK Listing Authority's Disclosure and Transparency Rules, the following Interim Management Statement was read to shareholders:

Interim Management Statement

This statement relates to the period from 1 April 2014 to 29 July 2014 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2015.

Trading update

Group operating results for the opening quarter are broadly in line with management expectations for a comparably weaker first six month period. Gross margins remain within the target range, operational costs are tracking close to budgeted goals and net cash reserves have increased slightly.

Key development milestones on a number of R&D projects have been met and the market response to recent new product introductions targeted at storage and wireless applications has been encouraging.

The Board reaffirms its expectations given at the time of the 2014 annual results in June with revenues weighted towards the second half.

There have been no other material events or transactions since 1 April 2014.

For further information please contact:

 
CML Microsystems plc             www.cmlmicroplc.com 
Chris Gurry, Managing Director   Tel: 01621 875 500 
Nigel Clark, Financial Director 
 
SP Angel Corporate Finance LLP   Tel: 020 3463 2260 
Jeff Keating 
 
Cenkos Securities plc            Tel: 020 7397 8900 
Jeremy Warner Allen (Sales) 
Max Hartley (Corporate Finance) 
 
Walbrook PR Ltd                  Tel: 020 7933 8780 
Paul McManus                     paul.mcmanus@walbrookpr.com 
Helen Cresswell                  helen.cresswell@walbrookpr.com

This information is provided by RNS

The company news service from the London Stock Exchange

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