PRELIMINARY RESULTS ANNOUNCEMENT
CML Microsystems Plc (“CML”), which designs, manufactures and markets a range of integrated circuits (ICs) for global industrial, professional and consumer applications within the areas of wireless communication, wireline communication, storage and networking, with operations based in the UK, Germany, the US, Singapore, China and Taiwan announces its Preliminary Results for the year ending 31st March 2007.
Commenting on the results, George Gurry, Chairman said:
“As foreshadowed when reporting on the interim results and the outlook for the second half, the results for the full year ended 31 March 2007 reflect the material losses posted for each of the six month trading periods … the loss is broadly in line with market expectations for the year.”
Financial Summary
- Turnover of £17.77m (2006: £26.33m)
- Loss before tax of £3.21m (2006: Profit before tax of £3.49m)
- Loss per share of 17.53p (2006: Earnings per share of 17.68p)
- Cash in bank and at hand of £3m
- Dividend of 5p per share (2006: 10.5p), payable 3 August 2007
Regarding prospects, George Gurry, Chairman said:
“The opening months of the current year are generally on or slightly ahead of operating targets, although firm progress will most likely not become evident before the second half. Action to address the product availability delays of last year will only begin to bite in coming months.
“I am disappointed with the full year results but encouraged that steps to tackle issues under management control will bear effect. I am confident, subject to unforeseen circumstances, in expecting a firm improvement in performance for this current year, including clear visibility of the point when the Group will return to profitability.”
Enquiries:
CML Microsystems Plc |
www.cmlmicroplc.com |
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Nigel Clark, Financial Director |
020 7479 7933 (today) |
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Chris Gurry, Business Development Director |
01621 875500 (thereafter) |
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Parkgreen Communications Ltd |
020 7479 7933 |
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Paul McManus |
07980 541 893 |
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Ben Knowles |
07900 346 978 |