14 May 2018

CML Microsystems Plc

Trading Update

CML Microsystems Plc ("the Group"), which designs, manufactures and markets mixed-signal and RF semiconductors, primarily for global communication and solid state storage markets, today issues the following trading update. This update refers to the Group's trading performance for the period from 1 October 2017 to 31 March 2018.

Trading Update

The Group delivered a pleasing performance through the second half of the financial year. Unaudited full year figures show an advance in both revenue and profitability over the prior year with revenue close to £31.7m and profit before tax in line with expectations at circa £4.6m.

Following payment of a maiden interim dividend in December 2017, net cash balances at 31 March 2018 totalled £13.8m.  

A more detailed performance analysis of the Company will be provided with the announcement of its full year preliminary results on Tuesday, 12 June 2018.

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.