Wolfson continues recovery

Wolfson Microelectronics continued to recover in the fourth quarter as its chips were designed into more products in the fast-growing smartphone, gaming and ebook sectors. Wolfson, whose chips are in Samsung’s Galaxy S smartphone and Amazon’s Kindle ebook reader, reported underlying operating profit of $1.3m (£800,000), against a $4.3m loss a year ago, on revenue up 67 per cent to $46m. The group said it expects revenue for the first quarter of 2011 to be between $38m and $44m.