CML is a semiconductor company focused on the next generation of wireless communications technologies
CML Microsystems (CML)
Ripples not waves – still on growth course
The trading update confirms revenues in line with our expectations. Excess inventory flow through and market softness in China have impacted CML’s core business, but Microwave Technologies Inc (MwT) is performing ahead of expectations. The net effect, along with MwT acquisition related costs, is that Reported PBT and EBITDA are to be lower than expectations, but not substantially so. The long-term investment case is founded upon the opportunity in next-generation wireless and, with £18m cash and MwT performing strongly, we believe the outlook remains encouraging.
Read or download the full report here....
NOTE: Progressive's research is commissioned by the subject company under contract, and is freely available to the public and institutional investors. Progressive does not offer investors the ability to trade securities, and Progressive does not provide investment advice. Our publications should not, therefore, be considered an inducement under MiFID II regulations. See our terms and conditions, and our privacy policy here.