CML Microsystems PLC Trading Update (6805E)

TIDMCML

RNS Number : 6805E

CML Microsystems PLC

22 October 2018

CML Microsystems Plc

(The "Company" or the "Group")

Half Year Trading Update

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 2018 to 30 September 2018.

Trading across the first six months of the financial year has been in line with management expectations despite the continued influence from extended raw material lead times along with disrupted customer purchasing patterns following NAND flash undersupply, a feature of the prior financial year.

The Board expects to report unaudited half year results comprising Group revenue of GBP15m, pre-tax profit of approximately GBP2.3m, and adjusted EBITDA of approximately GBP5.1m. The Group had net cash of GBP13.5m at 30 September 2018 following the dividend payment in August.

The Company will publish its half year results for the period ended 30 September 2018 on Tuesday 20 November 2018.

 
 CML Microsystems Plc               www.cmlmicroplc.com 
  Chris Gurry, Group Managing        Tel: +44(0)1621 875 500 
  Director 
  Neil Pritchard, Group Financial 
  Director 
 Cenkos Securities plc              Tel: +44(0)20 7397 8900 
  Max Hartley (Corporate Finance) 
  Russell Kerr (Sales) 
 SP Angel Corporate Finance         Tel: +44(0)203 463 2260 
  LLP 
  Jeff Keating 
 Alma PR 
  Josh Royston                        Tel: +44 (0)7780 901979 
  Caroline Forde                      Tel: +44 (0)7779 664584 
  Robyn Fisher                        Tel: +44 (0)7540 706191

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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