CML Microsystems a company specialising in the development of semiconductors for global communications markets, has announced its Full Year Results for the year ended March 31, 2023. Here are the key highlights:
Financial
- Revenues increased by 22% to £20.64 million compared to the previous year's £16.96 million.
- Profit from operations was £4.99 million, which includes an exceptional item of £2.06 million. In the previous year, it was £1.21 million.
- Profit before taxation amounted to £5.22 million, including an exceptional item of £2.06 million. The previous year's figure was £1.79 million.
- Diluted earnings per share rose to 29.93p, a significant increase from the previous year's 7.35p.
- Cash balances at the end of the period stood at £22.26 million, compared to net cash of £25.04 million on March 31, 2022. This reduction was due to share buybacks, investments in research and development (R&D), and dividend payments totalling £10.81 million.
- A recommended final dividend of 6.0p per share has been proposed, up from 5.0p per share in the previous year.
Operational
- Revenue growth was broad-based, with resilient end-markets.
- Approximately 25% of revenues were invested in R&D.
- The company released seven new products.
- The expanding product range continued to be adopted by customers.
- CML Microsystems entered the broadcast sector through a low-power DRM receiver solution.
- The company made an initial disposal of excess land after receiving planning permission at Oval Park.
Overall, CML Microsystems achieved strong financial performance with revenue growth, increased profitability, and a higher dividend payout. They also made progress in expanding their product range and entering new markets, such as the broadcast sector.