Trading Update

RNS Number : 2648U

CML Microsystems PLC

23 October 2017

 

23 October 2017

CML Microsystems Plc

(The "Company" or the "Group")

Half Year Trading Update

CML Microsystems Plc, which designs, manufactures and markets mixed-signal and Radio Frequency (RF) semiconductors, primarily for global communication and solid state storage markets, today issues the following trading update for the period from 1 April 2017 to 30 September 2017.

The Group's trading performance across the first six-month period has been pleasing. Gross revenue and draft operating results are in line with expectations and significantly ahead of the prior year corresponding period.

Following payment of a £1.2m dividend in August 2017 relating to the prior full financial year, Group cash reserves at 30 September 2017 were £12.7m.

The Company will publish its half year results for the period ended 30 September 2017 on Tuesday 21 November 2017.

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 Chris Gurry, Group Managing Director Neil Pritchard, Group Financial Director	www.cmlmicroplc.com Tel: [phone]
Cenkos Securities plc Max Hartley (Corporate Finance) Russell Kerr (Sales)	Tel: [phone]
SP Angel Corporate Finance LLP Jeff Keating	Tel: [phone]
Alma PR Josh Royston Rebecca Sanders-Hewett Robyn Fisher	Tel: [phone] Tel: [phone] Tel: [phone]

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.

 

END

 

 

TSTLLFIRIALFFID