Business
Final Results
Final Results.
About this update from Cml Microsystems Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8647B\n CML Microsystems PLC\n 15 June 2021\n \n \n \n \n 15 June 2021\n \n \n CML Microsystems Plc\n \n \n (\"CML\", the \"Company\" or the \"Group\") \n \n \n Full Year Results\n \n \n CML Microsystems Plc, which develops mixed-signal, RF and microwave semiconductors for global communications markets\n , announces its Full Year Results for the year ended 31 March 2021.\n \n \n Financial Highlights\n \n \n \n \n \n \n · \n \n \n \n \n Revenue £12.5m (2020: £15.0m) reflecting the effect of COVID 19 on the voice centric markets \n \n \n \n \n \n \n · \n \n \n \n \n Gross profit £9.27m (2020: £11.70m)\n \n \n \n \n \n \n · \n \n \n \n \n Record net cash level £31.9m (2020: £8.5m) after accounting for an £8.3m capital redemption, £0.7m paid out as dividends and a share buyback costing £1.6m \n \n \n \n \n \n \n · \n \n \n \n \n Profit before tax £0.01m (2020: £1.18m) after accounting for share-based payments and net finance income\n \n \n \n \n \n \n · \n \n \n \n \n Recommended final special dividend of 50p per ordinary 5p share \n \n \n \n \n \n \n Operational Highlights · Sale of Storage division for US$49m in cash· Launch of SµRF product range for microwave/millimetre wave applications· Enhanced strategic focus with significantly expanded addressable market· Returned over £10m to shareholders via share buyback, dividends and return of capital· Record order book in continuing business as at 31 March 2021 Post period end highlight· Proposed move to AIM to better serve Group's growth ambition Chris Gurry, Group Managing Director of CML Microsystems commented on the results: \"This has clearly been a transformational year for the business. We made the decision to dispose of the storage division to focus on an expanding communications market opportunity and the Board believes that the Group can now scale without the distraction of conflicting divisional and operational investment needs.We start the new trading year in a much stronger position than one year ago. Headwinds remain, including the pandemic, trade uncertainty between China and the USA and the ongoing semiconductor capacity issues that are widely reported. That said, the underlying feeling within the Company is one of opportunity and optimism evidenced by our day-to-day activities and the pipeline of opportu...