CML Microcircuits Regulatory News (CML)

30 July 2014

CML Microsystems Plc

Interim Management Statement

CML Microsystems Plc, 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 2014 to 29 July 2014 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2015.

Trading update

Group operating results for the opening quarter are broadly in line with management expectations for a comparably weaker first six month period. Gross margins remain within the target range, operational costs are tracking close to budgeted goals and net cash reserves have increased slightly.

Key development milestones on a number of R&D projects have been met and the market response to recent new product introductions targeted at storage and wireless applications has been encouraging.

The Board reaffirms its expectations given at the time of the 2014 annual results in June with revenues weighted towards the second half.

There have been no other material events or transactions since 1 April 2014.

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