Scotland-based iPod-chip developer Wolfson Microelectronics expects first-half 2004 revenue to beat analysts' forecasts.

Wolfson Microelectronics chairman John Carey said: "The company is continuing to see a healthy build-up of our first half order book which is at a record level. This indicates revenues will meet or be slightly ahead of analyst consensus for the first half of 2004."

He adds: "The company has experienced an increased demand for products in the portable space, namely digital cameras, MP3 players, and mobile phones."

Wolfson will continue to invest in research and development, Carey says. "We are on schedule to introduce 12 new products by the end of the first half of this year."

Carey will make the statement at the company's AGM, which is to be held this morning.

Wolfson floated on London's stock market last autumn, and in March announced annual profits of £6.7 million. The company was spun out of Edinburgh University, and designs so-called mixed-signal chips that convert between analogue and digital signals for a variety of products, including Apple's iPod, Microsoft's Xbox and Palm's Treo 600.