Last checked at 20 Oct 2020 07:00
20 October 2020
CML Microsystems Plc
(The "Company" or the "Group")
Half Year Trading Update
Notice of Results
CML Microsystems Plc, which designs, manufactures and markets semiconductor solutions primarily for global communication and solid state storage markets, today issues the following trading update for the period from 1 April 2020 to 30 September 2020.
Market conditions through the first six months of the financial year have continued to display the characteristics reported at the time of the AGM in July, with contrasting market conditions and associated trading performance from each of the Group's two main market sectors.
Sales and new order intake for Storage semiconductors remained at healthy levels, exceeding the comparable period one year ago. Conversely, demand for the Group's Communication products was somewhat weaker overall, with the lower performance attributed to a COVID-related reduction in demand from voice-centric radio manufacturers along with the ongoing US-China trade dispute. That said, new order intake from the Communications sector in the last few weeks of the half year was more encouraging and a fuller report will accompany the upcoming results announcement.
The Company will publish its unaudited half year results for the period ended 30 September 2020 on Tuesday 24 November 2020.
CML Microsystems Plc Chris Gurry, Group Managing DirectorNigel Clark, Group Chairman and Financial Director | www.cmlmicroplc.com Tel: +44(0)1621 875 500 |
Shore Capital Edward Mansfield James Thomas |
Tel: +44(0)20 7408 4090 |
SP Angel Corporate Finance LLP Jeff Keating
|
Tel: +44(0)203 463 2260 |
Alma PR Josh Royston Caroline Forde Robyn Fisher |
Tel: +44 (0)20 3405 0212
|
About CML Microsystems PLC
CML designs and develops semiconductors for the industrial storage and communications markets. The Group utilises a combination of in-house and outsourced manufacturing and has trading operations in Europe, the Far East and USA. CML targets niche markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading telecoms equipment providers and industrial product manufacturers.
The spread of its customers and products largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the ever increasing trend towards solid state storage devices in the commercial and industrial sectors, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial communications networks for voice and/or data communications linked to the industrial internet of things (IIoT).
The Group is cash-generative, has a net cash position and is dividend paying.