Confident of an improvement in profitability, says CML Microsystems

3rd Aug 2011 15:40

Semiconductors manufacturer CML Microsystems said first quarter results are ahead of expectations, and affirmed its confidence in achieving an improvement in profitability for the six month and full year trading period. "The group's operating results for the opening quarter are ahead of internal expectations and reflect the ongoing positive trading conditions that were a hallmark of the prior full financial year," CML said. The company said comparable period revenues are ahead in its major target market segments and geographic regions, but did not specify the regions, and added that on a customer basis advances have been broadly-based. The company, whose semiconductors are used in the communication and data storage devices, said gross margin was stable and its net cash has improved. It reiterated that no other material events or transactions have taken place since 1 April. Shares of the company rose 1.5% to 233.5p in London.AR