REG - CML Microsystems PLC - Trading Update

CML MicrosystemsAnnouncement

22/10/2018 07:05

RNS Number : 6805E
CML Microsystems PLC
22 October 2018
 


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 Director

Neil Pritchard, Group Financial Director
 


www.cmlmicroplc.com

Tel: +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.  
 




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