Scottish technology firm, Wolfson Microelectronics, has revealed a 36 per cent climb in its third-quarter net profit.
The company manufactures digital audio chips for Apple, Sony and others. It saw profit reach $10.5 on revenue of $70.4 million.
It said major new product launches by its leading customers resulted in a stronger-than-expected finish to the quarter. In its financial statement, the company also observed that recovery in consumer electronics markets continues, with portable and consumer audio delivering strongest sales.
Commenting on the results Dave Shrigley, Wolfson CEO, said: “Wolfson set a new record in the third quarter by delivering its highest-ever quarterly revenues. The company has made good progress with the integration of its recently acquired technologies and has benefited from some significant new design wins.
"Looking ahead, order backlog for the fourth quarter remains encouraging in the current peak season for the consumer electronics market. As a result, we remain on track to achieve double-digit growth for the full year and are confident that our momentum will continue to drive superior performance.”