LONDON -- Revenues for the first half of 2004 were up 94 percent to $56.9 million year-on-year at mixed-signal fabless semiconductor company, Wolfson Microelectronics plc, and up 22 percent sequentially from $46.5 million in the second half of 2003, the company reported Monday (July 26).
The net profit for the first half of 2004 was $6.7 million nearly triple $2.8 million made in the first half of 2003.
Wolfson expects the revenue growth rate in the second half of 2004 to exceed that of the first half resulting in an annual year on year revenue growth rate of between 70 percent and 80 percent. Wolfson believes it has a good design win position and a strong order book that gives the company confidence in its continued growth.
"We are delighted with the continued strong growth and profitability of the company. This is our sixth consecutive half-year of revenue and profit growth. We continue to enhance our position in some of the fastest growing digital consumer markets with our expanding portfolio of unique mixed signal products. Our current order backlog and design win momentum gives us confidence that we will achieve strong year on year growth in 2004 with high growth continuing through 2005," said David Milne, chief executive officer of Wolfson Microelectronics, in a statement.