SHARES in The
However the cancellation of "product programmes" at a major client, which analysts suggested is Blackberry, plus delayed product launches at other customers will see fourth quarter revenues come in between
While Wolfson, a spin-out from
Blackberry recently completed a major strategic review, which saw it confirm plans to shed 4500 staff and move away from producing consumer devices. It has since reported a quarterly net loss of pound(s)600m and agreed a pound(s)3 billion deal to be acquired by
In the trading update Wolfson said projects with several customers were expected to ramp up in 2014, mitigating the lost revenue from the cancellation.
It also indicated that the other customer product delays it ?highlighted were likely to roll over into the first half of the next financial year.
Indeed it highlighted "strong widespread traction" at all other major customers saying design-ins, where Wolfson products were selected for devices, were progressing well.
It has previously been suggested the business needs to make quarterly revenue of around
He said: "Although we did expect the contribution of the largest customer to decline in Q3, the extent of decline suggests accelerating traction for Wolfson's ?products outside Samsung, and ?is therefore encouraging in our view."
Shares in Wolfson closed down 27.5p to 147p.