CML Microcircuits Regulatory News (CML)

CML Microsystems Plc

Interim Management Statement

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 Interim Management Statement. This statement refers to the Group's trading performance for the period from 1 October 2015 to 30 March 2016.

Trading Update

The Group's operating results are on course to meet market expectations conveyed at the time of the half yearly results in November 2015, which were for a second half sequential revenue improvement and a full year advance in profitability.

New order bookings firmed as the period progressed and it is noteworthy that orders were received relating to the one or two customer product launches that had previously been delayed.

February saw the launch of an additional Storage IC in keeping with the strategy to expand the product range to encompass compatibility with the leading host interface standards that dominate our addressable markets.

Within Wireless, new products were launched that increase the functionality of the Group's voice and data-centric semiconductor solutions and improve our ability to benefit from the growth expected from the end-application areas.

Margins and operating costs have remained within their target ranges, leading to healthy Group cash generation.

There have been no other material events or transactions to report since 1 October 2015.

Outlook

Customer demand from the end markets in which the Group operates continues to be difficult to predict however, the Board currently expects that the business strategy being followed will uphold expectations for a further trading improvement over the year ahead.