Change to final results announcement date

 

CML Microsystems Plc

("CML", or the "Group")

Change to final results announcement date

CML, which develops mixed-signal, RF and microwave semiconductors for global communications markets,  announces  that its final results for the year ended 31 March 2022 will now be reported on 5 July 2022 and not 14 June 2022 as previously stated.

The Company's auditor, BDO LLP ("BDO"), has requested additional time to finalise its audit process and internal review procedures. The Group is both frustrated and disappointed with the last-minute delay.

As announced on 5 April 2022, the Group continues to expect to report results slightly ahead of market expectations.

 

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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.