CML Microsystems PLC
1 August 2001
Press Release
1 August 2001
CML MICROSYSTEMS PLC
CHAIRMAN'S AGM STATEMENT
First quarter beats forecast; strong second half anticipated
CML Microsystems plc, which designs, manufactures and markets a broad range of
semiconductor products, primarily for the global communications industry, held
its Annual General Meeting at 12.00noon in Great Baddow, Essex.
Prior to the formal proceedings of the AGM, George Gurry, Chairman of CML
Microsystems made the following statement to shareholders about current
trading and future outlook:
'AS YOU ARE ALL NO DOUBT AWARE, THE GENERAL BUSINESS PICTURE ACROSS A NUMBER
OF THE MARKET AREAS IN WHICH THE GROUP OPERATES HAS BEEN DEPRESSED IN RECENT
MONTHS, AND CLEAR EVIDENCE FOR A GENERAL IMPROVEMENT IN THIS SITUATION IS NOT
OBVIOUS AT THE PRESENT TIME.
TRADING CONDITIONS IN THE GROUP'S DOMESTIC NORTH AMERICAN MARKETPLACE ARE
PROVING PARTICULARLY DIFFICULT -- ESPECIALLY SO IN THE CASE OF WIRELESS DATA
PRODUCTS -- AND THIS SITUATION CAN BE EXPECTED TO PERSIST FOR MUCH OF THIS
YEAR.
AGAINST THIS BACKGROUND, I AM PLEASED TO CONFIRM THAT THE GROUP IS SLIGHTLY
AHEAD OF OPERATING FORECAST WITH ITS RESULTS FOR THE FIRST QUARTER, WHICH
ENDED ON JUNE 30th, AND THE OUTCOME PROJECTED FOR THE OPENING HALF SHOULD
POSITION THE GROUP FOR AN EXPECTEDLY STRONGER SECOND PERIOD.
IN THE ABSENCE OF UNFORSEEN CIRCUMSTANCES, I REMAIN OPTIMISTIC THAT YOUR
COMPANY WILL ACHIEVE IMPROVED RESULTS FOR THIS CURRENT YEAR.'
Enquiries:
CML Microsystems Plc
Nigel Clark; Financial Director
01621 875500
Binns & Co PR
Simon Ellis/Paul McManus
020 7786 9600
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.