Last checked at 22 Oct 2018 07:00
22 October 2018
CML Microsystems Plc
(The "Company" or the "Group")
Half Year Trading Update
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 2018 to 30 September 2018.
Trading across the first six months of the financial year has been in line with management expectations despite the continued influence from extended raw material lead times along with disrupted customer purchasing patterns following NAND flash undersupply, a feature of the prior financial year.
The Board expects to report unaudited half year results comprising Group revenue of £15m, pre-tax profit of approximately £2.3m, and adjusted EBITDA of approximately £5.1m. The Group had net cash of £13.5m at 30 September 2018 following the dividend payment in August.
The Company will publish its half year results for the period ended 30 September 2018 on Tuesday 20 November 2018.
CML Microsystems Plc Chris Gurry, Group Managing DirectorNeil Pritchard, Group Financial Director
| www.cmlmicroplc.comTel: +44(0)1621 875 500 |
Cenkos Securities plc Max Hartley (Corporate Finance) Russell Kerr (Sales)
| Tel: +44(0)20 7397 8900 |
SP Angel Corporate Finance LLP Jeff Keating
| Tel: +44(0)203 463 2260 |
Alma PR Josh Royston Caroline Forde Robyn Fisher |
Tel: +44 (0)7780 901979 Tel: +44 (0)7779 664584 Tel: +44 (0)7540 706191 |
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 no borrowings and is dividend paying.