Wolfson (one of the portfolio stocks) reported results for the first quarter ending 2nd April 2006 today.


Wolfson Microelectronics (WLF) reported a 210% rise in first-quarter pre-tax profits.


The strong results figures were helped by a strong chip market and rising demand for the iPod portable music players. Wolfson, which makes silicon chips for devices ranging from iPods to mobile phones, said pre-tax profit for the three months to April 2nd was $10.5m, up from $3.4m in the same quarter a year earlier. The company said it expected 'strong growth' during 2006.


Revenue rose 51% to $45.9m from $30.4m.

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

Wolfson CEO, David Milne, said in a statement accompanying the company's first set of quarterly results.

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

Wolfson said it expects second-quarter revenues to be broadly in line with those in the first, ranging between $43m-$47m.


Revenues in Wolfson's portable business segment increased by 84% to $32.2m, driven by rising consumer demand for portable music players, games consoles and multimedia phone handsets.

The company saw substantial year-on-year growth in the portable music player market

Wolfson said. 'Although volume shipments were seasonally lower in the first quarter this segment remained the largest contributor to overall revenues at 27%.'


The consumer audio division, which makes semiconductors for televisions and DVDs, returned to growth, helped by rising demand for flat-screen TVs and digital set-top boxes. Revenues rose to $8.1m from $7.6m.


Revenues at the imaging product division were $5.6m from $5.3m.


The stock currently stands 5.96% higher at 453.50p.