CML Microsystems PLC AGM Interim Management Statement (3576H)
31 July 2019 - 8:15PM
UK Regulatory
TIDMCML
RNS Number : 3576H
CML Microsystems PLC
31 July 2019
31 July 2019
CML Microsystems Plc
AGM Interim Management Statement
CML Microsystems Plc (the "Group" or the "Company"), which
designs, manufactures and markets semiconductors, primarily for
global communication and solid state storage markets, today issues
the following trading update at its AGM for the period 1 April 2019
to 31 July 2019 and includes reference to the unaudited results for
the Group's first quarter for the financial year ending 31 March
2020.
Trading Update
Revenue, gross margin and underlying profitability for the
opening months of the financial year to 31 March 2020 have met
internal expectations and are in accordance with the outlook
provided at the time of the FY19 results in June 2019.
Market conditions remain unchanged. Order intake for
Communications is exhibiting some resilience, whilst in the Storage
market the ongoing geo-political issues continue to have an effect,
most notably in the USA. As and when conditions change, we will
update shareholders accordingly.
We anticipate the current year to be one of stabilisation, and
believe that the foundations are in place to drive revenue growth
as the trading environment improves.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44(0)1621 875 500
Director
Neil Pritchard, Group Financial
Director
Shore Capital Tel: +44(0)20 7408 4090
Edward Mansfield
James Thomas
SP Angel Corporate Finance Tel: +44(0)203 463 2260
LLP
Jeff Keating
Alma PR
Josh Royston Tel: +44 (0)20 3405 0212
Caroline Forde
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 a net cash position and is
dividend paying.
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END
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