INTERIM RESULTS ANNOUNCEMENT
INTERIM RESULTS
CML Microsystems Plc ("CML"), which designs, manufactures and
markets a broad range of integrated circuits, primarily for global
communication and data storage markets, announces its Interim
Results for the half year ended 30 September 2007. CML has
operations in the UK, Germany, the US, Singapore, China and
Taiwan.
Commenting on the results, George Gurry, Chairman
said:
"The results for the six-month trading period ending 30 September
2007 show a loss somewhat greater than earlier internal
expectations and reflect the further effects of the operational
problems that impacted heavily on the previous year’s trading
performance.
They nevertheless mark an expected material improvement over the results for the immediately preceding six months and are an indication of progress taking place at the group operating level."
Financial Highlights
· Turnover down 11% to £8.49m (2006:
£9.46m)
· Loss before tax of £1.1m (2006: Loss of
£0.83m)
· Loss per share of 8.05p (2006: Loss of 4.90p)
· Cash in bank and at hand of £1.8m
Business Review
· New product releases within the storage and
wireless market segments.
· Adoption of voice privacy Integrated Circuits made a
notable contribution.
· Storage segment benefited from an increase of product
shipments into the Americas.
· New customer design wins expected to contribute
meaningful revenues in the next calendar year.
· Sale of Group products into the telecom segment
continued to be volatile.
· Significant investment to ensure the Group is well
placed to reap future benefits.
Regarding prospects, George Gurry, Chairman
said:
"The remainder of this current trading year
will continue to be challenging, but your Board remains confident,
subject to unforeseen circumstances, that the Group’s return
to profitability will become evident shortly thereafter."
Enquiries:
CML Microsystems
Plc www.cmlmicroplc.com
Nigel Clark, Financial Director 020 7479 7933 (today)
Chris Gurry, Managing Director 01621 875 500
(thereafter)
Parkgreen Communications Ltd 020 7479 7933
Paul McManus 07980 541 893