CML Microsystems Plc (LSE:CML) shares dipped 7.6% when markets opened on Tuesday following the publication of the semiconductor manufacturer’s interim results.
Revenues ticket 5% higher year on year to £10.6 million, but diluted earnings per share decreased from 11.58p to 9.31p.
CML’s cash balance, however, remained sturdy at £21 million, with the group announcing a half-year dividend of 5p per share.
Managing director Chris Gurry expects trading for the full year to be in line with expectations.
“CML's sustained revenue growth during the period, despite the macroenvironment headwinds facing the sector as a whole, is pleasing and serves to both validate our strategy and highlight the resilience of our business,” he stated.
Shares were swapping for 352p as of 10 am.