- Flat interim pre-tax profit of £1.9mn
- Full-year guidance maintained
First-half results from chip designer and manufacturer CML Microsystems (CML: 360p) are far better than the headline numbers suggest.
That’s because the group incurred £0.3mn of costs in relation to the $13.2mn (£10.5mn) post-period-end acquisition of Silicon-Valley-based semiconductor company Microwave Technology. The company is a recognised leader in the design, manufacturing and marketing of GaAs and GaN-based monolithic microwave integrated circuits (MMICs), discrete devices and hybrid amplifier products for commercial wireless communication, defence, space and medical MRI applications.