Interim Management Statement

RNS Number : 5930K

CML Microsystems PLC

31 July 2013

 



CML Microsystems Plc

Interim Management Statement

CML Microsystems Plc ("the Company"), which designs, manufactures and markets a broad range of semiconductors, primarily for global communication and data storage markets, today held its Annual General Meeting at Layer Marney Tower, Essex.

Subsequent to the formal proceedings of the AGM and as required by the UK Listing Authority's Disclosure and Transparency Rules, the following Interim Management Statement was read to shareholders:

Interim Management Statement

This statement relates to the period from 1 April 2013 to 30 July 2013 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2014.

Trading update

Group operating results for the opening quarter are in line with internal expectations and the Board repeats the guidance provided at the time of the Final Results announcement in June 2013 for further firm progress in profitability during the current financial year.

The Group's industrial SATA flash memory controller is gaining increasing acceptance across target storage markets whilst a number of wireless customers are now at various stages of product development or market introduction using the Group's baseband and RF chip-set solutions.

Gross margins and operational costs have remained stable through the period leading to an improved cash position and the repayment of all bank loans.

The Company was notified that, following a public inquiry, its planning appeal relating to a residential development on excess land at its Oval Park headquarters has been rejected. A review of the potential next steps will take place over the coming months.

There have been no other material events or transactions since 1 April 2013.

Enquiries:

CML Microsystems Plc	www.cmlmicroplc.com
Chris Gurry, Managing Director	Tel: [phone]
Nigel Clark, Financial Director
Cenkos Securities plc
Jeremy Warner Allen (Sales)	Tel: [phone]
Max Hartley (Corporate Finance)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]

 

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