Page last updated at 11:14 GMT, Wednesday, 28 October 2009

Further losses for microchip firm

generic microchip
Wolfson makes chips for mobile phones, TVs and games consoles

An Edinburgh-based microchip manufacturer has announced it made a loss in the third quarter of this year.

Wolfson Microelectronics said it had made a pre-tax loss of $1.5m (£920,000), short of the expectations of analysts.

It had previously announced a loss of £6.8m in the first half of the year.

The company, which makes microchips for mobile phones, TVs and gaming consoles, was dropped by Apple from its latest iPhone 3GS product.

Wolfson reported revenue of $35.4m (£21.7m), down from $60.5m (£37m) a year ago.

It made a profit of about £5m last year.

Analysts had expected revenue of $36.7m (£22.5m) and a pre-tax loss of $1.1m (£674,000), according to Thomson Reuters.

Wolfson chief executive Mike Hickey said: "Current trading remains challenging as the full impact of previously announced design losses works through."

But Mr Hickey said he was confident that new product design wins would have a positive impact on revenue in 2010.



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