Wolfson Microelectronics reported revenues $121.3m for 2009, down from 2008's $198.2m for an operating loss of $15.3m, compared to 2008's $14.7m and with a gross margin of 50.7%.
"We introduced twice as many new products in 2009 as we did in 2008 and have significantly enhanced our portfolio across all product lines. All our new Wolfson AudioPlu products are now shipping and are starting to generate revenues. At the same time, we reduced our operating 
expenses by over 10% and increased our cash reserves," said Mike Hickey, CEO of Wolfson Microelectronics, "looking forward, two-thirds of the 250 plus design-ins we secured in 2009 are expected to ramp into volume production during 2010, and this should increasingly benefit us as we progress through the year ahead. Meanwhile, our addressable market continues to grow as we further extend our portfolio."
Underlying operating expenses were reduced to $69.2m from 2008's $77.9m, 
and the underlying operating loss was $7.7m compared to 2008's $22.9m profit. Net cash inflow was $11.8m, compared to 2008's $16m.
Cash and short term deposits balance at 3 January 2010 were $97.8m compared to $92.2m at the end of 2008.
In Q409, revenue was $27.5m compared with Q408's $37.4m; gross margin was 50.9% and the operating loss was $5.9m compared to the $1.1m profit of Q408.
In 2009, 34 new products were launched, almost double the number launched in 2008, while R&D expenditure was broadly flat.
For 2010, Wolfson says: 'Revenue visibility is improving with order lead times lengthening, but is highly dependent on customers new product introduction ramps. Encouraging design-in traction with new customer product releases improves confidence of significant revenue growth.'
The order backlog for Q1 2010 is currently $23m compared to $24.1m at the equivalent point in Q4 2009. Q1 2010 gross margin expected to remain in the range of 50% - 51%