Stock data
| Market cap. | £37.2m |
| Last close | 236.00p |
| High / Low (52 weeks) | 302.5p / 187.5p |
| Stock market listing | LSE |
| Forecast net cash (£m) | 4.4 |
| Forecast gearing ratio (%) | N/A |
| Team | Technology |
| Sector | Technology |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (21.98) | (8.35) | 12.38 |
| Relative * | (18.15) | (0.82) | 23.5 |
* % Relative to local index
Other companies covered in sector
| Y/E Mar | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 18.0 | 3.9 | (0.8) | (4.1) | N/A | 7.8 |
| 2011A | 22.1 | 6.2 | 2.4 | 11.6 | 20.3 | 4.7 |
| 2012E | 24.2 | 6.6 | 3.3 | 15.2 | 15.5 | 5.6 |
| 2013E | 26.5 | 7.2 | 4.1 | 18.6 | 12.7 | 5.5 |
Last updated on 17/04/2012
Latest research
Risk/reward improving
Update | Technology | 21/02/2012
Robust start to the year
Update | Technology | 22/11/2011
Stored up potential
Outlook | Technology | 07/09/2011
Investment summary
The February IMS confirmed that trading had remained firm. Importantly, the drive to commercialise SATA flash storage products remains on track. Products are sampling with key customers and are on schedule to add incremental sales in 2013. 2012 estimates now look de-risked, and while economic uncertainty still prevails, incremental SATA sales have the potential to expand sales end estimates more than forecast in 2013. Full-year results in June should give greater visibility into the anticipated rate of revenue ramp from these products.
Last updated on 23/04/2012
Industry outlook
Having negotiated a period in which many chip peers downgraded, we feel that market risk is reducing, with execution risk on the SATA opportunity also starting to do so. Longer-term fundamentals for the company's storage products look very positive, driven by the replacement of hard drives with flash memory, and CML's expansion into serial interface products, to complement its established strength in parallel interface.
Last updated on 23/04/2012
Key management
| George Gurry, Chairman |
| Chris Gurry, MD |
| Nigel Clark, FD |
Company address
| Oval Park Langford Maldon CM9 6WG United Kingdom +44 (0)1621 875500 View website |
