INTERIM RESULTS ANNOUNCEMENT
CML Microsystems Plc (“CML”), which designs, manufactures and markets a broad range of semiconductor products, primarily for the global communications market, announces its Interim Results for the six months ending 30September 2005.
CML’s semiconductor solutions serve customers in the wire-line telecom, wireless data, two-way radio, memory card controller and programmable platform markets. Operations are in the UK, Germany, the US, Singapore, China and Taiwan.
Commenting on the results, George Gurry, Chairman said:
“It is pleasing to report that your company has continued to achieve the firm progress in product sales that I had expected as the opening period began, led strongly by the healthy growth maintained in sales for memory card controllers.”
Financial Highlights
- Turnover up 24.5% to £14.240m (H1 ‘04: £11.440m)
- Pre-tax profit up 4.7% to £1.416m (H1 ‘04: £1.352m)
- Earnings per share up 17.6% to 7.83p (H1 ’04: 6.66p)
- Cash reserves remain at a satisfactory level
- Introduction of IFRS
Business Review
- Good gains in sales of Memory Controller products
- Increased product development expenditure to increase range and scope of new products for Hyperstone
- Sales of Radio and Wireless Data applications ahead over comparative period
- Sales of Wireline Telecom products into China remains weak
- Products to market for marine communications and multi-standards land mobile voice and data markets
- R&D expenditure to rise in H2 - strong new product portfolio underpins growth strategy
Regarding prospects, George Gurry, Chairman said:
“Although I expect the weaknesses that have persisted in some historic market areas will continue to present difficulties through the months ahead, I feel quite sure that your company will continue to achieve its growth objectives.”
Enquiries:
CML Microsystems Plc |
www.cmlmicroplc.com |
Binns & Co PR |
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