REG - CML Microsystems PLC - Trading Update and Notice of Results

CML MicrosystemsAnnouncement

05/04/2022 07:00

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RNS Number : 2236H  CML Microsystems PLC  05 April 2022

5 April 2022

CML Microsystems Plc

("CML", the "Company" or the "Group")

Trading Update and Notice of Results

 

CML Microsystems Plc (the "Group" or the "Company"), the developer of
mixed-signal, RF and microwave semiconductors for global communications
markets, is pleased to today issue a trading update for the year ended 31
March 2022.

The Board is pleased to report that trading for the full year is expected to
be slightly ahead of current market expectations.

The very healthy net cash position recorded at the interim stage has been
further boosted through a combination of positive trading and the sale of one
of the Group's investment property assets. The cash position at 31 March 2022
was circa £25m and the Group remains debt free. The Group's significant cash
balance provides financial flexibility to maximise its future growth
potential.  All figures are unaudited.

Research and development activities along with operational investments to
support the market introduction of new products continue to gather pace. The
forward order book remains strong, with scheduled shipments stretching beyond
twelve months.

Well documented supply chain challenges are still a feature of the general
semiconductor market although the Group continues to manage the situation well
and has been successful at minimising the impact to our customer base.

The Board remains confident in the Group's strategy to deliver significant,
sustainable growth over the coming years.

Notice of Results

CML will publish its Full Year Results for the period to 31 March 2022 on
Tuesday 14 June 2022.

 

 CML Microsystems Plc                                                             www.cmlmicroplc.com (http://www.cmlmicroplc.com/)

Tel: +44(0)1621 875 500
 Chris Gurry, Group Managing Director

Nigel Clark, Executive Chairman

 Shore Capital                                                                    Tel: +44(0)20 7408 4090

 Toby Gibbs

 James Thomas

John More

Fiona Conroy - Corporate Broking

 Alma PR                                                                           Tel: +44 (0)20 3405 0212

 Josh Royston

Andy Bryant

Matthew Young

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global
communications markets. The Group utilises a combination of outsourced
manufacturing and in-house testing with trading operations in the UK, Asia and
USA. CML targets sub-segments within Communication 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 commercial and industrial
product manufacturers.

The spread of its customers and diversity of the product range 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 appetite for data to be transmitted faster and more securely, the
upgrading of telecoms infrastructure around the world and the growing
prevalence of private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

 

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