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

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?

breakout!!!!!!!

200p here we come with this breakout in the early stages

the herd yet to see and buy in which will be later this afternoon and tomorrow morning

correction chart is saying 180p next stop

phone trading only, not many sellers and when the buyers arrive watch for the very sharp vertical rise

Shorting WLF too at 232p.

Excellent news!

Means my long will make me money ..

Very good. Cisco is in trouble now.

WLF will be downgraded soon.

How's your short going hlyeo?

Well I don't believe hlyeo ever puts any money on anyway but if he did short this, I guess it would have been stopped out long ago.

This is going great 4 me... 160p.

Poor quarterly results today... sp diving again.

Sp has halved since February