INTERIM MANAGEMENT STATEMENT
CML Microsystems Plc 18 February 2008
Interim Management Statement
CML Microsystems Plc today issues its interim management statement as required by the UK Listing Authority’s Disclosure and Transparency Rules:
Trading performance since 1 October 2007 has continued to follow the trend set in the first half of the year. Semiconductor shipments into wireless and storage market segments continue to dominate revenues whilst, geographically, the Far East and North America were the largest contributors. Margins remained resilient and management continue to give appropriate attention to product and operational cost management.
In keeping with our published strategy to improve shareholder return on the Group’s property assets, we recently obtained planning approval to allow further development of the 28-acre freehold site in Essex, which is home to our Group headquarters and principal UK operating subsidiary. The additional development area is just over 5,800 square metres of floor space.
The Group has not yet disposed of its non-operational property assets and, in the current climate, does not expect to do so prior to the end of this financial year. Due to the timing uncertainty surrounding this activity, the Board is taking steps to ensure appropriate funding is in place.
There have been no other material events or transactions since 1 October 2007.
The outlook for the full year remains in line with expectations and the Board continue to focus on delivering sustainable growth beyond this year.
Enquiries:
CML Microsystems Plc
Chris Gurry, Managing Director Tel:
01621 875500
Nigel Clark, Financial Director