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

Hi apple, not a buyer of this stock yet, but honestly it seems to move from, 250p to 300p quite frequently.

Could be some nice earnings there.

cheers GF,

Very hard to judge this 1.

I'm staying out for quite a while, everytime I think it has found the bottom, it makes a new totally unjustified low.

It's down because Merrill is neutral on Wolfson Microelectronics (LSE: WLF.L - news) (while cutting estimates)

http://uk.biz.yahoo.com/041008/336/f465e.html

Thanks azhar that explains today.

Still doesn't justify how low this has fallen recently though.

Still not buying it.

The whole Semi sector was down on friday in the US which brought everything down in the UK. I would suggest hold for all those already in like myself and wait for others wanting to buy in. There is still a possibility that it may go back to 155+. at this point I will be considering to average down. initialy I bought in @174 and topped up on the way up @185. I was in profit for a short while but now loosing. I invested with medium term view of 4/6 months so I'm confident that it will be trading in the 220-300 range by then. Good luck to all holders.

Hard to believe that this was over 3 just a few months ago.

Down 53p, ouch!

Wolfson cuts H2 sales forcast to 56-60 mln usd on sluggish pre-Christmas trade
AFX


LONDON (AFX) - Wolfson Microelectronics PLC has cut its second-half sales guidance to 56-60 mln usd after a 'lack of the typical pre-Christmas surge in demand' for some of its products.

It now expects a full-year sales growth rate of 50-55 pct, down from a forecast of 60-70 pct made after its interim results.

tc

DOWN over 30%

I was right to stay away from this!

So was I.......

good call guys. Being stung badly here. live and learn then !!

Wolfson Microelectro - Trading Statement
RNS Number:9185DWolfson Microelectronics PLC11 October 200411 October 2004 Wolfson Microelectronics plc Update on TradingWolfson Microelectronics plc (Wolfson or 'the Company'), a leading supplier ofmixed signal semiconductors for the digital consumer electronics market,provides an update on trading since the announcement of the interim results on26 July 2004.Statement on Current TradingIn common with other semiconductor companies, Wolfson is experiencing a slowdownin some of its end markets. Although trading until recently was broadly in linewith expectations, order intake levels have led the Company to reassess itsoutlook for 2004.In the consumer audio segment, particularly DVDs, the acceleration in ordersnormally seen at this time of the year is not occurring. This is due to a buildup of surplus inventories at manufacturers, causing some customers to cancelorders and delay placing new orders as they deplete their excess inventory.The Company is continuing to experience strong growth in portable products withsales in this segment expected to more than double in 2004, compared with theprevious year, making it the largest contributor to the Company. However, theuptake of multimedia mobile phones in the end market has been slower thanexpected, causing some customers to scale down their orders.Trading within the imaging product sector is in line with the Company'sexpectations.As a result, Wolfson now expects its second half revenues to be in the range$56m-$60m. This equates to full year revenues of $113m-$117m, representing anannual growth rate of 50%-55%. Gross margins continue to be in line withprevious guidance of 49-51%.The Company continues to expand its customer base, particularly in Japan and theUSA where it has won significant design-ins for major new digital consumerproducts that are to be launched under global brand names next year. Inaddition, the Company has expanded its portfolio with new products that arebeing adopted in the latest digital consumer applications. Hence, in spite ofthe challenging current market conditions the Company expects to deliver growthin 2005.David Milne, Chief Executive Officer of Wolfson, said: 'We are revising ourguidance for the second half because of a lack of the typical pre-Christmassurge in demand for some of our products. Although this is extremelydisappointing, Wolfson will still deliver substantial growth in 2004.'We are continuing to gain market share with our products that are featuring inan increasing number of high profile digital consumer applications supplied bytier-one US and Japanese multinationals. The business remains strong and weexpect to deliver growth in 2005.'Note on Cirrus Logic litigationAn initial determination in the US International Trade Commission investigationinitiated by Cirrus Logic (referred to in previous statements) is expectedaround mid-November. The Commission is expected to issue a final determinationby mid-February 2005.Enquiries:Wolfson MicroelectronicsDavid Milne, CEO 0131 272 7000George Elliott, CFOCorfin CommunicationsHarry Chathli, Neil Thapar 0131 272 7398 on the day and thereafter 0207 645 2990 This information is provided by RNS The company news service from the London Stock ExchangeENDTSTFGMMGMGKGDZZ

sales growth rate of 50-55 pct still sounds good, doesn't it?

Balance sheet as at 30th June looks very clean, modest stocks and substantial net cash. Prospects remain satisfactory, even if well below earlier expectations. I think the fall overdone, but only committed to 2500 shares at 102p, with stop loss at 80p, just in case this warning is not the first.

Re the above post - should have referred to this warning not being the last - even an old codger like me can tell it is the first!

partridge

Make sure you stick to your stop loss.

The fall was overdone when it fell in July but it went on & on falling.

There must be some shorting going on.

Plus the semiconductor matket is heading for downturn.

partridge, same here bought some more @ 102.5

shares plunge on sales warning
LONDON (Reuters) - Wolfson Microelectronics (LSE: WLF.L - news) has lost over a third of its market value after it scaled down its guidance for second-half revenues, blaming slowing demand in some key markets.

Shares in the firm were 30 percent lower at 115 pence by 8:35 a.m. on Monday, off early lows of 105p, after the supplier of parts used in DVD players and cameras said it now expected second-half sales to come in at between $56 million and $60 million (31 million and 33 million pounds).

In July, Wolfson had reported 94 percent growth in first-half revenues to $56.9 million and forecast even greater revenue growth in the second half.

"We are revising our guidance for the second half because of a lack of the typical pre-Christmas surge in demand for some of our products," Chief Executive David Milne said in a statement.

"Although this is extremely disappointing, Wolfson will still deliver substantial growth in 2004."

Wolfson's second-half guidance will put it on course to achieve 2004 revenues of between $113 million to $117 million, up between 50 and 55 percent on a year earlier.

Analysts had pencilled in 2004 revenues of $134 million, according to a consensus forecast from Reuters Estimates.

The Scotland-based company, which listed on the London market last year, said that while trading was broadly in line with expectations until recently, order intake levels had since suffered.

In the DVD market, an acceleration in orders usually seen at this time of the year was not taking place due to a build-up of surplus inventories at manufacturers, causing some customers to cancel orders and delay placing new orders.

Market purchases of multimedia mobile phones were also slower than expected, causing some customers to scale down their orders, Wolfson said.

However, the company said it continued to experience strong growth in portable products such as music players and forecast sales in this segment would more than double in 2004, making it the largest contributor for Wolfson.

Monday's warning caused Wolfson's market value to fall to around 116 million pounds

Milne added it was still seeing to experience strong growth in portable products such as music players and forecast sales in this segment would more than double in 2004.


http://uk.biz.yahoo.com/041011/214/f4b8d.html

Citigroup Smith Barney reiterates buy Wolfson Microelectronics (LSE: WLF.L - news).

http://uk.biz.yahoo.com/041011/336/f4bbo.html

azhar

Like I said in July, this fall is just silly but then it just goes on getting sillier.

I'm still staying out of this 1 until after the next big fall.

These things tend to happen in threes, don't know why.

Good call apple i.e. wanting to stay out.I'm in and staying in for the next 4/6 months as stated previously.