CML Microsystems said it expects to return to operational profitability earlier than previously anticipated, after a firmer start to its financial year.
It was a short announcement from CML Microsystems on Tuesday, but it did the job for the equity bulls with shares rising 6% on Tuesday morning.
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In a trading update at its annual meeting, the AIM-listed semiconductor developer will say demand had picked up across all its key market verticals, building on a stronger final quarter last year. Revenue in the opening months was in line with expectations, while order intake came in ahead.
The company said the improved momentum had left the board confident in its growth strategy and made an earlier return to operational profit look likely.