CML Microsystems PLC Interim Management Statement (4740W)
01 Août 2018 - 12:15PM
UK Regulatory
TIDMCML
RNS Number : 4740W
CML Microsystems PLC
01 August 2018
1 August 2018
CML Microsystems Plc
Interim Management Statement
CML Microsystems Plc ("the Group"), which designs, manufactures
and markets mixed-signal and RF semiconductors, primarily for
global communication and solid state storage markets, today held
its Annual General Meeting at Pontlands Park, Chelmsford,
Essex.
Subsequent to the formal proceedings of the AGM the following
update on current trading was read to shareholders by the
Chairman:
Interim Management Statement
This statement relates to the period from 1 April 2018 to 1
August 2018 and includes reference to the unaudited results for the
Group's opening trading quarter for the financial year ending 31
March 2019.
Trading Update
Revenue, operational costs and resulting profitability for the
opening months of the financial year, which includes the first
quarter, were marginally ahead of internal expectations. That said,
the caution already communicated around raw material lead times and
customer purchasing patterns continued to impede performance in
some areas. Therefore, taking these considerations into account,
the full year outlook remains unchanged, with revenue and profit
progress still expected to be weighted towards the second half.
In line with our stated growth strategy, we have sustained our
high levels of research and development activities with several new
products projected to be launched to market during the latter part
of the current financial year, adding to our potential future
revenue streams.
The Group's routes to market continue to be enhanced globally,
most recently through a distribution agreement for Storage products
signed with a new Japanese partner.
The execution of the growth strategy means that while mindful of
the above current issues, the Board is confident in the continued
success of the business.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44(0)1621 875 500
Director
Neil Pritchard, Group Financial
Director
Cenkos Securities plc Tel: +44(0)20 7397 8900
Max Hartley (Corporate Finance)
Russell Kerr (Sales)
SP Angel Corporate Finance Tel: +44(0)203 463 2260
LLP
Jeff Keating
Alma PR
Josh Royston Tel: +44 (0)7780 901979
Caroline Forde Tel: +44 (0)7779 664584
Robyn Fisher Tel: +44 (0)7540 706191
About CML Microsystems PLC
CML designs and develops semiconductors for the industrial
storage and communications markets. The Group utilises a
combination of in-house and outsourced manufacturing and has
trading operations in Europe, the Far East and USA. CML targets
niche markets with strong growth profiles and high barriers to
entry. It has secured a diverse, blue chip customer base, including
some of the world's leading telecoms equipment providers and
industrial product manufacturers.
The spread of its customers and products largely protects the
business from the cyclicality usually associated with the
semiconductor industry. Growth in its end markets is being driven
by factors such as the ever increasing trend towards solid state
storage devices in the commercial and industrial sectors, the
upgrading of telecoms infrastructure around the world and the
growing prevalence of private commercial communications networks
for voice and/or data communications linked to the industrial
internet of things (IIoT).
The Group is cash-generative, has no borrowings and is dividend
paying.
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END
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