Electronics company reports strong growth
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Manufacturing News, Source : TheManufacturer.com
Published : 31 Jan 2007 10:39
Wolfson Microelectronics increased revenue by 23 per cent last year.
The consumer electronics company has today announced its fourth quarter and full year results for 2006. Revenues for the year have increased by 23 per cent reaching $204.1 million in comparison to the previous year which saw revenues reach $166.6 million. Profits before tax and non-recurring charge rose by 30 per cent to $50.3 million, $44.6 million after the non-recurring charge: 2005 reached $38.7 million. Wolfson’s fourth quarter results, however, highlighted revenues in line with guidance at $52.6 million, a drop from 2005’s figures ($61.3 million).
Commenting on the results, David Milne, chief executive, said: “In spite of challenging market conditions in Q4, we are pleased to report another year of strong growth in 2006 as the company’s high performance products gain share in new and existing markets.
“Looking ahead we expect the first quarter revenues to be impacted by seasonality which is characteristic of dynamic consumer markets. For the year as a whole, we are well positioned to benefit from our expanding product portfolio and a strong design win position, particularly in portable devices. As a result, the Company looks forward to delivering further growth in 2007.
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