CML Microsystems Plc ("CML"), Hyperstone's parent company, announced Preliminary Results for the year ended 31 March 2013

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Financial Highlights:

- Group revenues up 8% to £25.24m (2012: £23.41m)
- Profit before tax up 28% to £5.07m (2012: £3.95m)
- Basic EPS up 22% to 25.59p (2012: 21.06p)
- Net cash inflow £3.74m (2012: £2.92m)
- Cash reserves of £9.32m (2012: £7.74m)
- Net cash of £8.98m (2012: £5.24m)
- Final dividend increased 37.5% to 5.5p (2012: 4p)

Operational Highlights:

- Storage: 46% of group revenue
- Revenues from solid state storage market up 6.5% to £11.55m (2012: £10.84)
- CAGR of 23% over the last 5 years
- Volume shipments of the Group's SATA controller commenced in Q4
- Wireless: 39% of group revenues
- Product revenues grew by approximately 14% to £9.80m (2012: £8.60)
- CAGR of 8% over the last 5 years
- Multi-chip strategy gaining customer adoption

- Wireline telecom: 11% of group revenues
- Product revenues slightly decreased to £2.68m (2012:£2.78m)
- Gross margin increased resulting in maintained profit
- Underlying overall trend is one of stability for the segment

Post Period End Events

The Board has taken the decision to close its equipment segment comprising of Radio Data Technology Ltd (RDT) due to declining revenues and increasing losses for the year to 31 March 2013. The equipment segment represented approximately 2% of Group revenues with an operating loss of £383k for the reported period. An orderly closure is expected, which will result in a positive impact on the profitability of the Group going forward despite exit costs.

Chris Gurry, Managing Director of CML, said:

"The results serve to highlight the very positive effects we are seeing from progressive revenue growth built on the foundations of a stable cost base and a focused product strategy with high technical barriers to entry. The Group's two main semiconductor market sectors, storage and wireless, each posted solid revenue gains as the products emanating from our multi-year research and development activities gained traction with customers. "Overall, the Group expects to make further firm progress in profitability during the coming year."

Read full announcements of annual results at: http://www.cmlmicroplc.com/media/rns.aspx
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