Wolfson Microelectronics plc (LSE: WLF), a leading mixed-signal semiconductor company that produces proprietary high performance integrated circuits, today announces its maiden full year results as a listed company for the 12 months ended 31 December 2003.

Highlights

· Turnover increased by 125% to $75.7m (2002: $33.7m)

· Profit before tax increased to $12.5m (2002: $3.6m)

· Diluted earnings per share of 9.24 cents (2002: 2.57 cents)

· Net cash generation from operations of $4.8m (2002: $3.5m)

· R&D expenditure increased to $9.4m (2002: $4.9m)

David Milne, Chief Executive Officer of Wolfson Microelectronics said:

“I am delighted by the progress of our Company in 2003. This is the second year in a row we have doubled our turnover. Our growth is driven by demand from a host of new digital consumer products that need the high performance mixed signal interfaces we supply.'

“In 2004 we are continuing to see a healthy build-up of our first half order book and are excited by the interest customers are showing in our new products for multimedia mobile phones and digital cameras.”

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