Vimicro Announces Update to Business Outlook
07 2월 2007 - 10:30PM
PR Newswire (US)
BEIJING, Feb. 7 /Xinhua-PRNewswire/ -- Vimicro International
Corporation (NASDAQ:VIMC), a leading fabless semiconductor company
that designs and develops multimedia semiconductor products and
solutions, today reaffirmed guidance for the fourth quarter of
2006. The Company continues to expect revenue to range from $34
million to $36 million and fully diluted earnings per share to
range from $.08 to $.10 on a non-GAAP basis for the three months
ended December 31, 2006. Concurrently, Vimicro announced
preliminary guidance for the first quarter of 2007 and expects
revenue to range from $21 million to $23 million and fully diluted
earnings per share to range from $.01 to $.03 per ADS on a non-GAAP
basis. These estimated results reflect the normal seasonality
factors associated with the impact of overall business slow down
during the Chinese New Year Holiday. Also impacting first quarter
results has been the delayed launch of Microsoft's Windows
Vista(TM) Operating System, which was ultimately released on
January 29, 2007. As a result of the delay, many PC and notebook
manufacturers and module makers have also delayed their shipments,
which is estimated to have a corresponding effect on Vimicro's
first quarter. In addition, the delayed launch of Vista(TM) has
also led to inventory buildup by Vimicro's downstream customers in
this quarter. With Vista now available in the market, the Company
expects growth to resume in the second quarter of 2007 and
estimates that revenue will increase 25 percent to 30 percent as
compared to the first quarter of 2007. 'We are pleased that the
uncertainties associated with the delayed launch of Vista(TM) are
finally resolved. With Vista now available, we are confident in our
outlook for the second quarter and for the remainder of the year.'
said Kevin Jin, Vimicro's President and Chief Operating Officer. An
announcement regarding the date and time of the Company's fourth
quarter and year end 2006 earnings release and conference call will
be forthcoming. About Vimicro International Corporation Vimicro
International Corporation is a worldwide leading fabless
semiconductor company that designs, develops and markets
proprietary embedded multimedia signal processing chips and
solutions that enable multimedia applications for mobile phones
over 2.5G/3G networks and PCs over broadband Internet. Vimicro's
ADSs, each of which represents four ordinary shares, are currently
trading on the NASDAQ global market under the ticker symbol 'VIMC.'
Forward Looking Statements This announcement contains
forward-looking statements. These statements are made under the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "confident"
and similar statements. Among other things, the quotations from
management in this announcement, as well as Vimicro's expectations
and forecasts, contain forward-looking statements. Vimicro may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission on forms
20-F and 6-K, etc., in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Vimicro's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: our limited
history of achieving net profit; our growth strategies; our future
business development, results of operations and financial
condition; our ability to develop and sell mobile multimedia
processors that meet changing consumer preferences and industry
standards; decrease in the demand for our notebook and PC camera
multimedia processors and third-party image sensors which we bundle
with some of our PC camera multimedia processors; our ability to
secure sufficient foundry capacity in a timely manner; our ability
to maintain existing customers and attract new customers; and the
expected growth of the mobile multimedia processor market. Further
information regarding these and other risks is included in our
annual report on Form 20-F filed with the Securities and Exchange
Commission. Vimicro does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
All information provided in this press release is as of February 7,
2007, and Vimicro undertakes no duty to update such information,
except as required under applicable law. DATASOURCE: Vimicro
International Corporation CONTACT: Ryan Bright, +1-972-239-5119
x159 or , or Leanne Sievers, +1-949-224-3874 or , both of Shelton
Group, for Vimicro
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