CML Microsystems PLC
07 June 2006
CML Microsystems Plc ('CML')
CML announces that its profit before revaluation of investment properties (which
under IAS 40 have to go through the Income Statement) and tax for the year
ended 31 March 2006 will be around £2.8 million on turnover of approximately
£26.3 million. Whilst turnover is in line with market expectations, the better
contribution to profit is due to a combination of improvement in gross margin
and cost control in the last quarter of the year. The revaluation of investment
properties will increase the profits by a further £0.7m taking the profit before
tax to £3.5m.
Whilst the improved results for the year ended 31 March 2006 is an encouraging
outcome currently CML is seeing a slowdown in order intake from a significant
customer and a revision of their short and medium term forecasts. Though
confident about the long-term commitment to CML by this customer, if this
slowdown persists as is currently forecast, then it is likely that the results
for the year ending 31 March 2007 will be below current market expectations. CML
will provide an update on this at the time of its Annual General Meeting in
August.
CML will announce its results for the year ended 31 March 2006 on Tuesday
13 June 2006.
G W Gurry
Chairman
7 June 2006
Contact for information
N G Clark or C A Gurry
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