CHAIRMAN'S AGM STATEMENT
CML Microsystems Plc (“CML”), which designs, manufactures and markets a broad range of semiconductor products, primarily for the global communications industry, held its Annual General Meeting at today at 12 noon at Layer Marney, Essex.
Following the formal proceedings of the AGM, the following statement was made:
“The slowdown in the order intake from the significant customer has continued in line with our expectations in early June and will as we advised have a significant impact on our first half results and consequently the year. Though difficult to forecast when these conditions will change we are still confident about the long-term commitment to CML by this customer. The operating results of the other group operations in these opening months have met our internal forecasts.
“Though at an early stage of the year it is clear that this will be a challenging period for the group but subject to unforeseen circumstances, I still feel confident that the second half will show the progress needed to achieve the current market expectations for the full year. “
ENDS
CML Microsystems Plc |
Tel: 01621 875 500 |
Parkgreen Communications Ltd |
Mob: 07980 541 893 |