Wolfson today provides an update on its revenue mix expectations for 2008.

Wolfson has been notified that its product has not been selected by a major Tier 1 customer for inclusion in the next generation of its portable media players, expected to be launched during the third quarter of 2008. However, Wolfson continues to have a strong relationship with this customer as an important supplier for its other high-growth product areas.

Revenue from applications other than portable media players grew by 22% in 2007 and represented 76% of the Group total. Revenue growth from these applications has continued to be very strong thus far in 2008, with particularly good performance in handsets, digital still cameras, gaming, headsets, GPS and automotive. This is evidence of the ongoing broadening and balancing of the Wolfson portfolio of technologies, customers and applications so as to diversify the revenue base.

Consequently, and based on recent discussions with customers, Wolfson expects the impact on revenues in the second half of 2008 from the portable media player design loss mentioned above to be mitigated by stronger than previously anticipated growth across its customer base and application areas, including from existing handset customers, together with an increasing contribution from higher value AudioPlus^TM products.

Therefore, Wolfson remains confident in achieving growth in 2008 and currently anticipates full-year revenue consistent with market expectations.
Looking beyond the current year, Wolfson remains confident in its future prospects and its strategic imperative of pursuing double-digit revenue growth.

Wolfson reconfirms its guidance for first quarter 2008 revenue to be in the range $44-$48m, and will announce its Q1 results on 24 April 2008.

Enquiries:

Wolfson Microelectronics
Dave Shrigley, Chief Executive
Mark Cubitt, Finance Director 
T: 0131 272 7000

Corfin Communications
Neil Thapar, Harry Chathli 
T: 020 7977 0020