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Wolfson has 'challenging year' as losses double

SEMICONDUCTOR maker Wolfson suffered a "challenging" year as pre-tax losses more than doubled to $24.2 million (£15.3m).

A tax credit of almost $6.2m softened the losses a little in the 12 months to January 1, 2012, but weak consumer demand for electronic goods continues to affect the Edinburgh company.

Revenue dipped slightly from $157.3m to $156.9m and the share price ended the day down 2.52% to 155p.