Wolfson Micro swings to fourth-quarter loss
LONDON Feb 5 (Reuters) - British chip maker Wolfson Microelectronics swung to an underlying loss in the final quarter of 2014 after it said a faster-than-anticipated switch to 4G mobile caused it to lose ground to a competitor.
The company on Wednesday posted an underlying operating loss of $4.5 million, against a profit of $1.5 million for the same period a year ago, on revenue that dipped to $42 million from $56.1 million.
Chief Executive Mike Hickey said he expected the company to resume its growth trajectory in the second half of 2014 as customer phone inventories unwind and new products are launched with its next-generation audio technology.
- Obama makes rare campaign trail appearance, people leave early
- Two arrested in death of Saudi student in California: report
- Hong Kong crisis deepens after weekend clashes, talks set for Tuesday |
- U.S. military says air-drops weapons for Kurdish fighters near Kobani
- Japan stocks see biggest gain this year, lead sharp Asia rebound