5 April 2022
CML Microsystems Plc
("CML", the "Company" or the "Group")
Trading Update and Notice of Results
CML Microsystems Plc (the "Group" or the "Company"), the developer of mixed-signal, RF and microwave semiconductors for global communications markets, is pleased to today issue a trading update for the year ended 31 March 2022.
The Board is pleased to report that trading for the full year is expected to be slightly ahead of current market expectations.
The very healthy net cash position recorded at the interim stage has been further boosted through a combination of positive trading and the sale of one of the Group's investment property assets. The cash position at 31 March 2022 was circa £25m and the Group remains debt free. The Group's significant cash balance provides financial flexibility to maximise its future growth potential. All figures are unaudited.
Research and development activities along with operational investments to support the market introduction of new products continue to gather pace. The forward order book remains strong, with scheduled shipments stretching beyond twelve months.
Well documented supply chain challenges are still a feature of the general semiconductor market although the Group continues to manage the situation well and has been successful at minimising the impact to our customer base.
The Board remains confident in the Group's strategy to deliver significant, sustainable growth over the coming years.
Notice of Results
CML will publish its Full Year Results for the period to 31 March 2022 on Tuesday 14 June 2022.
| CML Microsystems Plc Chris Gurry, Group Managing Director
| www.cmlmicroplc.com |
| Shore Capital Toby Gibbs James Thomas
| Tel: +44(0)20 7408 4090 |
| Alma PR Josh Royston
| Tel: +44 (0)20 3405 0212
|
About CML Microsystems PLC
CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.
The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).
The Group is cash-generative, has no debt and is dividend paying.
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