CML Microsystems PLC Trading Update and Notice of Results (5455C)
20 October 2020 - 5:00PM
UK Regulatory
TIDMCML
RNS Number : 5455C
CML Microsystems PLC
20 October 2020
20 October 2020
CML Microsystems Plc
(The "Company" or the "Group")
Half Year Trading Update
Notice of Results
CML Microsystems Plc, which designs, manufactures and markets
semiconductor solutions primarily for global communication and
solid state storage markets, today issues the following trading
update for the period from 1 April 2020 to 30 September 2020.
Market conditions through the first six months of the financial
year have continued to display the characteristics reported at the
time of the AGM in July, with contrasting market conditions and
associated trading performance from each of the Group's two main
market sectors.
Sales and new order intake for Storage semiconductors remained
at healthy levels, exceeding the comparable period one year ago.
Conversely, demand for the Group's Communication products was
somewhat weaker overall, with the lower performance attributed to a
COVID-related reduction in demand from voice-centric radio
manufacturers along with the ongoing US-China trade dispute. That
said, new order intake from the Communications sector in the last
few weeks of the half year was more encouraging and a fuller report
will accompany the upcoming results announcement.
The Company will publish its unaudited half year results for the
period ended 30 September 2020 on Tuesday 24 November 2020.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44(0)1621 875 500
Director
Nigel Clark, Group Chairman
and Financial Director
Shore Capital
Edward Mansfield Tel: +44(0)20 7408 4090
James Thomas
SP Angel Corporate Finance
LLP Tel: +44(0)203 463 2260
Jeff Keating
Alma PR
Josh Royston Tel: +44 (0)20 3405 0212
Caroline Forde
Robyn Fisher
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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