Wolfson continues revenue and profit growth

Wolfson Microelectronics has published its financial results for the first quarter ended 2nd April 2006.

Wolfson Microelectronics has published its financial results for the first quarter ended 2nd April 2006.

Revenues increased by 51% to $45.9 million (Q1 2005: $30.4 million).

Profit before tax increased by 210% to $10.5 million (Q1 2005: $3.4 million).

Gross margin improved to 50.7% (Q1 2005: 46.8%).

Fully diluted earnings per share increased to 6.47 cents (Q1 2005: 2.15 cents).

Commenting on the results, David Milne, Chief Executive of Wolfson, said: "We are delighted to report our first quarterly results with strong year-on-year growth".

"As expected the results reflect seasonal trends following a strong fourth quarter in 2005".

"The global market for digital consumer products continues to expand and the company remains on track to deliver strong growth in 2006".

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