StockMarketWire.com - Semiconductor manufacturer CML Microsystems said operating results since October continue to be ahead of expectations by a satisfactory margin.

Total revenues are in line with historic trends which traditionally see a slightly weaker second half to the full financial year.

Shipments of semiconductors into industrial and professional wireless applications continued to be firm. Through the period a number of new products were released to market that are expected to both consolidate the Group's existing market position and also begin to drive adoption across wider markets.

CML said particularly pleasing are the sales revenue gains from the Group's flash memory controller chips for use within industrial solid state storage devices and embedded computing platforms. Previously announced new products have commenced sampling at key customers and are currently on track to begin contributing to Group revenues during the next financial year.

The Group received close to $700k, net of costs and taxes, following the sale of its North American commercial property announced in November 2011. Any overall enhancement to current year profits is not quantifiable at this stage due to a pending professional revaluation of certain other Group properties prior to the financial year end. As previously reported, the Board continues to provide appropriate resources to realising capital from the Group's commercial property assets.

Gross margins and costs remained within target range and the Group's net cash position has been strengthened.

CML said it remains on track to record good growth for the current financial year and it remains confident that the existing strategy for both customer and product range expansion will lead to further solid progress thereafter.



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