Wolfson falls into loss after losing Apple iPod deal

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The US giant started switching contracts for its iPod Nano and iPod Touch in 2008 to other providers, creating a huge hole in Wolfson's revenues over the following year.

It is not expected to feature in the iPad when it launches in the coming weeks.

Chairman Mike Ruettgers said Wolfson had "battened down the hatches" during the period and was confident it would return to significant growth in the second half of 2010.

Revenues fell in the year to $121.3 million (£77.8 million) from $198 million a year earlier while underlying profits of $22.9 million in 2008 turned into losses of $7.7 million. Some analysts had been forecasting the losses to hit $10 million.

However, the shares rose nearly six per cent as analysts focused on Mr Ruettgers's apparent optimism about new products, particularly its AudioPlus technology which is aimed at providing high-quality sound with low power usage. It was selected by Microsoft for its Zune MP3 player.