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Components | June 28, 2011

Wolfson Microelectronics issues cautious profit update

As a result of lower customer end product sell through and delays in some key customers’ new product introductions, Wolfson expects Q2 2011 revenues to be towards the lower end of previous guidance, at around USD 37m to $39m, and is moderating growth expectations for 2011.
"Despite the current challenging consumer electronics environment, Wolfson still anticipates an annual revenue growth rate for 2011 over 2010 in the range of 10-20%, with gross margin for the full year of around 50%. The precise outcome will depend on the timing of key customer product launches and end product sell through.

Adoption of Wolfson’s audio solutions is accelerating and the number of significant design-ins across existing and new customers continues to increase. Whilst some key 2010 design-ins are translating to revenue later than expected in 2011, Wolfson remains confident that it has the traction with customers to support strong growth into 2012.

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