Last checked at 3 Aug 2011 11:30
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.
Following 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 by Chairman, George Gurry:
Interim Management Statement
This statement relates to the period from 1 April 2011 to 2 August 2011 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2012.
Continuing growth
The Group's operating results for the opening quarter are ahead of internal expectations and reflect the ongoing positive trading conditions that were a hallmark of the prior full financial year.
Comparable period revenues are ahead in the major target market segments and geographic regions whilst on a customer basis, advances have been broadly based.
The gross margin has remained stable and the group continued to improve its net cash situation whilst also funding necessary working capital requirements.
There have been no other material events or transactions since 1 April 2011.
Outlook
The Board remains confident of an improvement in profitability for both the six-month and full year trading periods.
Enquiries:
CML Microsystems Plc
Chris Gurry, Managing Director Tel: 01621 875500
Nigel Clark, Financial Director