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

We all know who the major customer is...it doesn't take rocket science to know who that is...IT IS Apple Inc.


Wolfson Microelectronics loses design deal but still confident on growth - AFX


LONDON (Thomson Financial) - Wolfson Microelectronics PLC said it has failed to win a media player design contract from a major customer but still expects to meet the market's full-year revenue forecasts, thanks to growth in other areas.

Wolfson said the impact on second-half revenues, stemming from the loss of the contract, is expected to be mitigated by stronger than expected growth across its customer base and from other applications.

The company said it remains confident it will achieve growth in 2008 and reconfirmed its first-quarter revenue guidance of 44-48 mln usd.

The group said it will announce its first-quarter results on April 24.

Bad week for this one...I bet there are many people that have suffered big losses on this one, as it was up in the 140p's at the beginning of the week !

It's very prone to big movements this one.

This time however...........

Not too sure but the market is wrong for a great recovery for a while.

Investors Chronicle reported that WLF is still looking expensive at 110p today.

Which is very sad if you knew what price I've got it!

I remember the Telegraph saying a few months ago it was a buy at around 270p

The Telegraph also said Ceres Power will go from 280p then to 370p-500p. Now around 175p.

I am beginning to believe that if IC suggests sell it is an indication to buy.

I use to credit their reports, but now just check projected PEs etc. which are still good.

I would be very brave to buy into this chart especially when WLF have lost its supply to Apple recently for its iPods.

Questor used to be highly rated but the credit crunch has destroyed their punts along with everybody else

As a guess, I think it will bounce off the 100p support line Although the short term MAs are not very reassuring nor are the majority of indicators.

Why is WLF tumbling to 88p today???

Sold at a loss at 86p today as my broker thinks it is unlikely to recover in the short term. Now 80p. Looks like he's right.


Wolfson says sales drop, shares tumble
AFX


Oct 2 (Reuters) - British chipmaker Wolfson Microelectronics Plc reported a sharp downturn in orders in the past few days as weak consumer confidence hits demand, sending its shares down as much as 25 percent to a new low.

The Edinburgh-based company, which makes chips for products including Apple Inc's iPhone, said it experienced a 'material reduction' in orders intake and more rescheduling of orders in recent days.

At 0830 GMT, Wolfson shares were down 15 percent at 91-3/4p, having fallen as low as 106-1/2p -- well below a peak of around 565p seen in mid 2006 and its lowest since flotation in 2003.

It said it now expects fourth-quarter revenue to be between $45 million and $50 million, compared with a previous consensus expectation of $58.87 million according to a survey of three analysts by Reuters Estimates.

Many memory chip makers are suffering from a downturn as a result of a supply glut and falling demand for consumer electronic devices.

Wolfson, which named Motorola Inc's Mike Hickey as its chief executive last month, also reduced its third-quarter gross margin estimates to between 50 percent and 51 percent from 52 percent, despite maintaining revenue guidance for the quarter at $56 million to $62 million.

Analysts at brokerage Panmure Gordon & Co cut their share price target for Wolfson to 100 pence from 120p, but maintained their 'hold' rating on the stock.

'Market conditions combined with negative newsflow should continue to result in the stock trading well below fundamental value,' analyst Nick James said in a note to clients.

Landsbanki cut its full-year sales estimate for Wolfson to $207 million from $219 million.

I think you're right jistyi - - - but then look at CYAN =up a huge amount ( OK from dire lows), yet no news at all.
Looks to me as though CYAN holders believe they will get a massive Order for MEter-reading,- BUT - as I've said ( there), who is paying for these meters - and "how many" do they want?
Will shareholders be asked to stump-up cash for this Order and the MM's are pushing the price to gain some headroom - dunno buyt where is the "news"?
I suspect the meter-numbers are quite small and whilst it's a massive order (compared with zero!) it's hardly enough to pay CYAN directors all their salary, bonus and Options all of which leave a nasty taste, er IMHO - DYOR -

Wolfson, by contrast, has top-nothch customers and it's only "time" that will resolve their market demand - provided they can stay in business.
I'm surprised you didn't sell at 1 as the prospects (then) were relativly unknown.
+Hey-ho I've done far worse!
I don't hold CYAN or WLF

WOLFSON BRACED FOR SLOWDOWN IN CONSUMER SPEND

Shares in Wolfson Microelectronics slumped to their lowest point since listing in 2003 after the specialist chipmaker issued a warning on its fourth-quarter performance, saying it expected revenues of between 45-50 million dollars, compared with market forecasts of about 60 million dollars. It blamed the cut on a deferral of orders across a range of applications, as well as a 'material reduction in order intake in recent days'. The shares fell 27.5 pence, closing at 82 pence.

Profits tumble at Wolfson
MoneyAM


Wolfson Microelectronics this morning posted Q3 adjusted operating profit of $9.1m, compared to $14.5m last year, on revenue down to $60.5m from $70.4m, and said it anticipates fourth quarter and full year gross margins to be around 51%.

Wolfson reported net cash inflow from operations of $10.0m and a net cash balance at 28th September 2008 of $88.8m.

The company said staffing levels have been reduced from Q2 2008 with annualised cost reduction estimated to be at least $4m.

Since the trading update on 2nd October, the market environment has continued to weaken and Wolfson has experienced a further broad based deterioration in order intake and rescheduling of orders.

Based on the information currently available, Wolfson now expects Q4 2008 revenue to be in the range $35m-$45m, resulting in anticipated full year 2008 revenue in the range of $196m-$206m.

Commenting on the results Dave Shrigley, CEO of Wolfson, said: 'Against a backdrop of difficult market conditions our third quarter revenue performance was in line with guidance. This result reflects the strength of our wide product portfolio and increasing penetration of the multimedia handset market. Furthermore, the Company's AudioPlus growth strategy is moving into the next phase, as the first products incorporating the technologies acquired last year enter the marketplace.

However, Wolfson continues to be affected by the unprecedented uncertainty surrounding global consumer confidence, leading customers across a broad range of applications to further scale back their orders to volumes well below normal seasonal patterns. In response we are continuing to control costs tightly to mitigate the impact on margins and maintain cash generation. With a strong market position, a robust balance sheet and a business strategy aimed at significantly expanding our addressable market, we remain well placed to return to growth when market conditions improve.'

wonder how much this will bounce today

Why is it a dead cat?

Wolfson Micro looking the business after a breakout from a resistance line of 130p/131p. An increase in volume adds to the case. The stock as also broke out from a down trend channel as shown in the chart...

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Director bought 100k's worth (a tad over), make you think they know something we'll kick ourselves for not buying - but then GB and AD are telling us the UK is well-placed to come out of Recession . . . . do I smell something on my shoe...?

Wolfson business reflects the advanced- mood of consumer-gismo providers....and frankly I don't see Consumers spending good money for features they already have - a completely new m/c might do the trick, but it's difficult to see a new Market could open-up too soon.
Currently 1.20 - I suspect something like 80p would be fair, being as how we're in recession. Gismos may be exciting to investors/tech-heads, but do you really need a better 'phone or Ipod buster?