The Scottish maker of electronic chips for Apple iPod music players and TomTom car navigation systems today said it expected solid growth this year despite "uncertain" conditions.
Edinburgh-based manufacturer Wolfson Electronics posted a better-than-expected 13.5% hike in full-year revenues, at $231.6 million, after a record revenue performance in the final three months of 2007.
The group, which also designs audio components for mobile phones such as Apple's iPhone and flat-screen TVs, boasts clients including consumer electronics giants such as Canon, Sony and Samsung.
Wolfson said the key driver of revenues had been portable products such as MP3 players, digital cameras and satellite navigation devices.
These account for almost three-quarters of group revenues, with sales of chips for sat-navs nearly doubling as the technology falls in price, according to the group.
The company said current market uncertainty could affect the firm "to some extent" in 2008, although it expects to deliver solid growth from new customers and new products coming on sale.
Chief executive Dave Shrigley added: "This is a great testament to the company's resilience and the quality of its business."
Wolfson has looked to broaden its product and customer range through acquisitions under its Audioplus growth plans.
But underlying profits for the full year fell 8% to $43 million (£21.8m) due to the impact of the buys, as well as a weaker US dollar.
Shares in the company were 2% higher today following the update.
Panmure Gordon analyst Mark Davis said: "At first glance these results seem fine and a relief in light of recent concerns, but the Audioplus strategy needs to become a true success. The company has a lot to do this year."
This week Wolfson shipped its billionth chip since the firm was founded in 1984. It now employs almost 400 staff.
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