But pre-tax profits slip to £7m

Revenue at UK semiconductor manufacturer Wolfson Microelectronics has risen 20 per cent to a record $70.4m (£33.9m) in the third fiscal quarter.

Pre-tax profit totalled $14.7m (£7.1m), down 11 per cent from $16.5m (£7.9m) in 2006, with diluted earnings rising 50 per cent to 9c (4p) per share.

Operating cash inflow soared to $11.5m (£5.5m), almost four times the $3m (£1.4m) figure recorded in 2006.

The company now predicts fourth quarter revenue of between $66m (£31m) and $72m (£35m). Sales for 2007 are forecast in range of $226m (£109m) to $232m (£112m).