Wolfson

I've seen shares fall on good results before but this is just silly!

Surely this has got to be a buying opportunity!

Financial Highlights

Revenue increased by 94% to $56.9m (H1 2003, $29.3m)
Gross margin improved to 50% (H1 2003, 46.4%)
Profit before tax increased by 123% to $9.3m (H1 2003, $4.2m)
Diluted earnings per share increased 94% to 5.77c (H1 2003: 2.98c)

Operational Highlights

158 design wins in the period
9 new products introduced in the period
Continued strong uptake of products by major OEMs
Increased sales in Japan and Korea to 29% of group turnover
31 new technical and commercial staff

BSU% 25/66/9% and yet the price doesn't go south. V.ODD
Are the MMS accumulating for another Trust etc.?

i hope so.....

Buys and sells appear incorrect. Many of the reported sells would seem to be buys. Still very small volumes for price movement.

Anybody buying out there? If so why? I still hold some from earlier buy, but would expect a further nose dive.

VIEWS. It has been a bad day.

A week of rises, has this been over sold and now startsthe long road to recovery??

The price says yes but the volumes say no to me. Watching and Waiting with TLC.

No one seems to mention the court case they are involved in?

Trewinney You interest me. Please give details of court case involvement.

That is if you have any support for you inference.

Fred I new,
They have ongoing litigation with Cirrus Logic (USA co)over patent rights,with a decision expected this year.They have already spent a considerable amount of money defending this case,

I've just bought at between 1 and 1.05.....think they will go north, fidelity have just upped their stake and the shares wont fall below 1 - it's the sentiment of a 3 number vs 2 number figure.imho....

.found this today..
Wolfson says US court ruling on Cirrus Logic patent case to have no effect
AFX


LONDON (AFX) - Wolfson Microelectronics PLC, the supplier of high performance mixed signal semiconductors, said a US court has ordered a limited exclusion order against the company in the Cirrus Logic Inc patent case, but said this will have no effect on its business.

The company, which is maintaining its current full year revenue guidance, said the limited exclusion order for three of its audio digital-to-analogue converter products bars importation of these products to the US, covers standalone products and does not extend to end products that incorporate the Wolfson devices.

The company said the findings will have no effect on its business as two of the three affected products were made obsolete in early 2004 due to lack of market demand and the third product was modified to remove the disputed feature.

The court also ruled that Cirrus' US Patent No. 6, 492 and 928 is unenforceable and as such, no restrictions were imposed.

The initial determination is subject to review by the full Commission of the US International Trade commission, which is expected to issue its final decision on Feb 14, 2005, the statement added.

newsdesk@afxnews.com

ra

Taken gain of just under 20% on purchase of 11th October - quite happy for the next man to have a bit...

I think you are wise to take your profit. I have a long term hold in this company, but expect another drop in price. The price is up but no volume and is being pushed up by MMs wind at the moment IMO.

Every time I think that this looks like recovering, it defies me & goes down again.

Panmure Gordon expect a fall to 85p.

If it does go to 85p then I'll take the risk.

The volumes look a little bigger but I would think it is due to few punters getting out. I think it will drop a little further 80-85 may try an buy a few more. I think it is a long term good bet. It is beginning to look like BPRG which is again a long term winner. But what a ride.

back to new recovery high manana, you happy people, dafter

Thursday November 18, 06:45 AM

Wolfson Claims Victory in Cirrus Patent Battle ComputerWire Staff

Integrated circuit designer Wolfson Microelectronics Plc (LSE: WLF.L - news) claims to have won a patent infringement suit brought by rival Cirrus Logic Inc (NASDAQ: CRUS - news) .

It said an initial determination by an Administrative Law Judge of the US International Trade Commission found that one Cirrus patent was unenforceable because prior art was not disclosed to the US Patent and Trademark Office.

However the determination also found that three Wolfson audio digital-to-analog converters infringed another Cirrus patent and recommended a limited exclusion order against their importation into the US. Wolfson said this will have no effect on its business because two of the products were made obsolete in early 2004 and the third product was modified to remove the disputed feature.

In October 2003, Edinburgh, Scotland-based Wolfson had to delay its IPO to rewrite its prospectus after Cirrus filed the patent infringement claim.

its all good news now.
WLF are very, very cheap.

mmm.....they are bound to go up....only because i just sold my holding (at the wrong time of day..again - doh) Confusing signals tho.....2 brokers saying 85p and 100p...Daily Mail saying buy. I think the cirrus case should be viewed as a -ve avoided rather than a +ve gained. Also take into account a predicted lack of big ticket item demand over x.mas etc....apart from that it should be a blue sky affair - i think the attraction of Wolfson is quality of products....

slightly disagree, the Cirrus should be seen as a positive, after all you could say that this is what dragged the price down from 300p or so....
I doubt of the brokers who have said sell have given much thought to that stance, simple reason being that WLF have now said as well that they will meet broker expectations...
This is a company after all, growing at 55% p.a. & are profitable. I would love to know what the forward pe is & compare this to others in the sector.

a double possitive cirrus & trading to the new forcast = the best possible news
a no brainer imho- the triple possitive 20% gain in last couple of weeks.
back to 180 by spring or sooner depending on the rumour in mail of 2 contracts
in the youth market,dafter