CML Microsystems benefits from Sicomm acquistion

CML Microsystems, a company that designs, manufactures and markets mixed-signal and radio frequency (RF) semiconductors, has reported a rise in revenues due to its contributions from recent acquisition of Chinese semiconductor company Sicomm.

The group expect revenues for the six months ending 30 September 2016 to be around £13m, including a two month contribution of product revenues from its acquisition of Siccom of £0.4m.

"The contribution from Sicomm to date has been pleasing, in line with our expectations and we look forward to the second half of the year with confidence," said group managing director Chris Gurry.

Profit before tax is expected to be around £1.9m. Cash generation continues to be “healthy” with net cash of over £11m at 30 September 2016.

Looking ahead Gurry said: "CML is focused on two highly niche industrial storage and communication markets where the quality and reliability of our technology sets us apart and makes us an integral part of our customers' products. The Group is seeing the benefits of our strong focus on R&D which remains a key part of our strategy as we continue to build for the future."

The firm will publish its half year results on 22 November 2016.

The share price rose by 4.64% to 395p at 1550 BST on Monday.