REG - CML Microsystems PLC - Interim Management Statement <Origin Href="QuoteRef">CML.L</Origin>

CML MicrosystemsAnnouncement

06/09/2014 22:38

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RNS Number : 7356N
CML Microsystems PLC
30 July 2014 
 
30 July 2014 
 
CML Microsystems Plc 
 
Interim Management Statement 
 
CML Microsystems Plc, which designs, manufactures and markets a broad range of
semiconductors, primarily for global communication and data storage markets,
today held its Annual General Meeting at Layer Marney Tower, Essex. 
 
Subsequent to the formal proceedings of the AGM and as required by the UK
Listing Authority's Disclosure and Transparency Rules, the following Interim
Management Statement was read to shareholders: 
 
Interim Management Statement 
 
This statement relates to the period from 1 April 2014 to 29 July 2014 and
embraces the unaudited results for the Group's opening trading quarter for the
financial year ending 31 March 2015. 
 
Trading update 
 
Group operating results for the opening quarter are broadly in line with
management expectations for a comparably weaker first six month period. Gross
margins remain within the target range, operational costs are tracking close
to budgeted goals and net cash reserves have increased slightly. 
 
Key development milestones on a number of R&D projects have been met and the
market response to recent new product introductions targeted at storage and
wireless applications has been encouraging. 
 
The Board reaffirms its expectations given at the time of the 2014 annual
results in June with revenues weighted towards the second half. 
 
There have been no other material events or transactions since 1 April 2014. 
 
For further information please contact: 
 
 CML Microsystems plc             www.cmlmicroplc.com             
 Chris Gurry, Managing Director   Tel: 01621 875 500              
 Nigel Clark, Financial Director                                  
                                                                  
 SP Angel Corporate Finance LLP   Tel: 020 3463 2260              
 Jeff Keating                                                     
                                                                  
 Cenkos Securities plc            Tel: 020 7397 8900              
 Jeremy Warner Allen (Sales)                                      
 Max Hartley (Corporate Finance)                                  
                                                                  
 Walbrook PR Ltd                  Tel: 020 7933 8780              
 Paul McManus                     paul.mcmanus@walbrookpr.com     
 Helen Cresswell                  helen.cresswell@walbrookpr.com  
 
 
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