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

DO WE SEE ANY ACTIVITY BEFORE TUESDAYS FINALS,LETS HOPE ITS POSITIVE NEWS.

Article in todays Express says Wlf will beat analysts expectations by increasing their profits by more than 28% to 8.4 million for the fists 12 months since it's float and surging demand for digital portable devices has offset the slowdown in DVD's....

New chip from wolfson for smartphones.

http://www.scottish-enterprise.com/sedotcom_home/stn/scottishtechnology/scottishtechnologynews/scottishtechnologynews-roundup.htm#wolfson_feb05

The Independant today has 8 million as the figure with a great outlook.

"Wolfson Microelectronics has disappointed the City in the past 12 months but its annual results will not: word has it the figures from the semiconductor group are likely to come in at the top end of expectations. Wolfson's share price performance over the past three months supports this theory. Its stock is up by about 40 per cent since December. Investors can expect a 28 per cent rise in pre-tax profits to $16m (8m) for 2004."

http://news.independent.co.uk/business/analysis_and_features/story.jsp?story=613172

OVERVIEW

Wolfson is pleased to report another year of strong growth in revenues and
profits in 2004, the first full 12-month period of trading since the Company's
flotation on the London Stock Exchange. This has been achieved against
challenging market conditions in some areas of the Company's business, notably
sales to DVD manufacturers in China.

For the year, revenues increased 58% to $119.3m (2003: $75.7m) and pre-tax
profits increased by 34% to $16.8m (2003: $12.5m). This is also the first time
Wolfson's annual revenues have exceeded the $100m revenue mark consolidating our
position as a leading supplier of high quality, mixed signal semiconductors for
many of the world's consumer electronics brands.

Gross margins for the year improved from 46.8% in 2003 to 49.3% in 2004
reflecting a change in product mix and better manufacturing yields

Wolfson surges on MP3 sales

UK semiconductor group Wolfson Microelectronics reported stronger-than-expected full-year results after soaring demand for MP3 players offset some weakness in the DVD player market.

Wolfson, whose semiconductors are used in a range of gadgets including Apple's iPod and Sony's portable PlayStation, said revenues for 2004 rose 58% to $119.3m with pre-tax profits up 34% to $16.8m.

The full-year performance topped the consensus forecast, which called for earnings of $16m on turnover of $115m.

Wolfson said the 2004 results were underpinned by strong demand for its chips from MP3 player makers like Apple, with sales to manufacturers of games consoles also buoyant in the the second half of the year.

This offset a slowdown in sales to DVD player makers, who were struggling against 'challenging market conditions', particularly in China. Late last year, Wolfson warned that stockpiling of unsold DVD players in China meant the normal pre-Christmas surge in surge in DVD chip sales simply did not materialise.

'Despite the disappointing downturn in sales in the Chinese DVD sector in the second half of 2004 ... the company has entered 2005 with the widest product range and design wins in its history, which we believe provides a solid platform to deliver further growth during 2005,' said CEO, David Milne, in a statement to the stock exchange.

Milne went on to say that current trading was 'encouraging', and that Wolfson was 'confident' of delivering year-on-year growth in sales for both the first half and the full year. Wolfson had previously forecast revenue growth of 20% for 2005.

Looking further ahead, Wolfson said the growing popularity of multi-media and third-generation phones would spur demand for its wireless semiconductors.

'While the market for multimedia phones is still relatively small, and growth in this market was disappointing last year, the introduction of 3G networks is expected to produce substantial growth over the next few years,' said the company.

Gross margins for the year improved from 46.8% in 2003 to 49.3% in 2004, reflecting healthier manufacturing yields and a rising sales of higher-margin chips.

UK smallcap opening - Wolfson Micro up on forecast-breaking FY numbers

LONDON (AFX) - Buyers came for Wolfson Microelectronics, 9-3/4 pence better at 170, after the UK semiconductor group released forecast-breaking full-year numbers.

The news prompted Citigroup to step up its price target to 195 pence and reiterate its 'buy' stance on the stock. The house also increased its 2005 revenue forecast to 140 mln stg from 132 mln, and its 2006 prediction to 189 mln from 180 mln.

Elsewhere, Cazenove repeated its 'outperform' recommendation on Wolfson

http://thescotsman.scotsman.com/business.cfm?id=202622005&20050223040609

Gone back into Woolfson WLF having waited to see if there were the usual sell offs after results. No problem and outlook statement looks very encouraging.................

Outlook

The Company has entered 2005 with the widest product range and design wins in
its history which we believe provides a solid platform for the Company's
prospects. Demand for digital consumer electronics products, in particular
portable devices, remains buoyant. Although early in the new year, current
trading is encouraging and the Board is confident of delivering year-on-year
growth in sales for both the first half and the full year

cheers GF.

Hoping for a prosperous future here and a return to previous highs.

cheers GF.

A down day across all the small cap board, not company specific. No reason to sell.

cheers GF

What a lovely recovery. On its way to breaking up aswell. Moves fast this one.



cheers GF.

Buys greater than sell volumes now should start to turn positive.

cheers GF.

Buys now far outweighing sells. Price getting more positive.

cheers GF.

Still in the red. Great recovery story and buys far outweigh sells.

cheers GF.

50 DMA almost crossing the 200 DMA, good buying opertunity here, me thinks....may get on board in the next few days

Just moved back in myself. Sure it would have been up today if we didnt have a lousy market all round.

cheers GF.

Added more this morning. Looks to be well undervalued.

cheers GF.

Just ticked up nice.

cheers GF.

Ticked up slightly more.

cheers GF.