CML Microsystems PLC Trading Update and Notice of Results (5455C)

TIDMCML

RNS Number : 5455C

CML Microsystems PLC

20 October 2020

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                          www.cmlmicroplc.com 
  Chris Gurry, Group Managing                   Tel: [phone] 
  Director 
  Nigel Clark, Group Chairman 
  and Financial Director 
 
   Shore Capital 
   Edward Mansfield                             Tel: [phone] 
   James Thomas 
 
   SP Angel Corporate Finance 
   LLP                                          Tel: [phone] 
   Jeff Keating 
 Alma PR 
  Josh Royston                    Tel: [phone] 
  Caroline Forde 
  Robyn Fisher 
 

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.

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October 20, 2020 02:00 ET (06:00 GMT)