CML Microsystems PLC Trading Update (3960E)
May 08 2017 - 1:00AM
UK Regulatory
TIDMCML
RNS Number : 3960E
CML Microsystems PLC
08 May 2017
08 May 2017
CML Microsystems Plc
Trading Update
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 issues
the following trading update. This update refers to the Group's
trading performance for the period from 1 October 2016 to 31 March
2017.
Trading Update
It is pleasing to report that the business has performed well
over the second half of the financial year. Unaudited figures
indicate revenue for the full year was above GBP27.6m, with profit
before tax ahead of market expectations at circa GBP4.2m. Cash
generation continued to be healthy resulting in a net balance of
GBP12.4m at 31 March 2017.
New order bookings were firm through the period with a pleasing
contribution from the Sicomm business, acquired during the first
half of the year. Planned investments in customer facing personnel
and related activities gathered pace towards the end of the
year.
The Company will announce its full year audited results on
Tuesday, 13 June 2017 along with a more detailed report on the
progress being made.
The information contained within this announcement is deemed by
the Group to constitute inside information under the Market Abuse
Regulations (EU) No. 596/2014.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44(0)1621 875
Director 500
Neil Pritchard, Group
Financial Director
Cenkos Securities plc Tel: +44(0)20 7397 8900
Max Hartley (Corporate
Finance)
SP Angel Corporate Finance Tel: +44(0)203 463 2260
LLP
Jeff Keating
Alma PR
Josh Royston Tel: +44 (0)7780 901979
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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