CML Microsystems, (www.cmlmicroplc.com) the Essex-based designer and manufacturer of semiconductors, has reported double-digit drops in revenues, pre-tax profits and basic earnings per share.

However, the company said that its annual results, while down on last year, are slightly ahead of earlier revised expectations. The company, which has its headquarters in Maldon, said that it is “putting procedures in place that will help ensure the group returns to a growth path that is sustainable over the long term.”