CML Microcircuits Regulatory News (CML)

11 March 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 issues the following Interim Management Statement. This statement refers to the Group's trading performance for the period from 1 October 2014 to 10 March 2015.

Trading Update

The Group's operating results are currently tracking slightly ahead of full year market expectations with second half performance on course to exceed the first.

Within industrial Storage markets, demand for the Group's flash memory controller products continues to firm and the number of new customer opportunities for the expanded product range has grown.

Revenue from Wireless semiconductor products has improved following the weaker comparable first half period supported by the first production shipments into previously announced satellite machine-to-machine (M2M) applications.

Margins and operating costs have remained within target range, driving cash balances higher.

A revised planning application for a residential development on part of the Group's Oval Park headquarters has been refused at local council level and the Group is currently considering its next steps.

There have been no other material events or transactions to report since 1 October 2014.

Outlook

The Board remains confident that full year market expectations will be met and that the management strategies being followed will deliver a return to annual growth thereafter.