Last checked at 19 Aug 2009 11:00
CML Microsystems Plc
AGM and Interim Management Statement
CML Microsystems Plc ("CML"), which designs, manufactures and markets a broad range of integrated circuits, 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 in accordance with 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 2009 to date and embraces the unaudited results for the Group's opening trading quarter for the financial year ending March 31 2010.
Market conditions reported at the time of the preliminary results announcement in June have continued through the period under review. Semiconductor shipments into wireless and storage markets dominated Group revenues whilst, geographically, the majority of sales were to Far East territories.
Continuing weak revenue levels and an adverse currency effect were somewhat offset by lower operating costs and improved margins resulting in the net trading performance being broadly in line with management expectations.
There have been no other material events or transactions since 1 April 2009.
The outlook is for similar trading conditions to persist for the remainder of the calendar year with overall expectations for a full year improvement,
19 August 2009
Enquiries:
CML Microsystems Plc
Chris Gurry, Managing Director Tel: 01621 875500
Nigel Clark, Financial Director