Last checked at 29 Jul 2015 11:20
29th July 2015
CML Microsystems Plc
Interim Management Statement
CML Microsystems Plc, ("the Group"), 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 in accordance with 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 2015 to 29 July 2015 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2016.
Continuing progress
Group operating results for the opening quarter are in line with internal forecasts and on track to meet market expectations for the first half.
Gross margins and operating costs are stable. The increased investment in future product development is progressing as planned with the key milestones being met. Cash is in line with internal forecasts.
There have been no material events or transactions since 1 April 2015.
Outlook
The Board remains confident of an improvement in profitability for both the six-month and full year trading periods.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Director Tel: +44(0)1621 875 500
Neil Pritchard, Group Financial Director
Cenkos Securities plc Tel: +44(0)207 397 8900
Jeremy Warner Allen (Sales)
Max Hartley (Corporate Finance)
SP Angel Corporate Finance LLP Tel: +44(0)203 463 2260
Jeff Keating
Walbrook PR Ltd Tel: +44(0)203 7933 8780 / cml@walbrookpr.com
Paul McManus
Helen Cresswell