EDINBURGH, Scotland -- Wolfson Microelectronics plc, the mixed-signal fabless semiconductor company, produced maiden full year results as a listed company for the 12 months ended 31 December 2003, with its sales more than doubled to $75.7 million and profits more than tripled.
Sales increased by 125 percent over 2002's figure of $33.7 million due to multple improvements including a number of design wins for mixed-signal circuits with leading companies and due to increased penetration into Japan, according to David Milne, chief executive officer.
Profit before tax increased to $12.5 million compared to $3.6 million in 2002, the company said.
"Our growth is driven by demand from a host of new digital consumer products that need the high performance mixed signal interfaces we supply," Milne said in a statement. "In 2004 we are continuing to see a healthy build-up of our first half order book and are excited by the interest customers are showing in our new products for multimedia mobile phones and digital cameras."
Milne said he expected the first half of 2004 to be sequentially up on the second half of 2003 and for the second half of 2004 to be up 50 percent again.