BEIJING, March 3, 2014 /PRNewswire/ -- Vimicro
International Corporation (NASDAQ: VIMC) ("Vimicro" or the
"Company"), a leading video processor and surveillance solution
provider, today updated its guidance for the fourth quarter of 2013
and provided guidance for the first quarter of 2014.
(Logo: http://photos.prnewswire.com/prnh/20070528/CNM014LOGO
)
The Company now expects total revenues of $21 to $22 million in the fourth quarter of 2013,
versus previous guidance of total revenues of $13.5 to $15.5 million and a backlog of
$20 million. This updated revenue
figure includes a portion of the $20
million backlog; the remainder of the backlog will be
applied during the first and second quarters of 2014.
In addition, the Company expects revenues of $15 to $17 million in the first quarter of 2014,
as compared to $7.9 million in the
first quarter of 2013.
About Vimicro International Corporation
Vimicro International Corporation is a leading video processing
IC and surveillance solution provider that designs, develops and
markets mixed-signal semiconductor products and system-level
solutions that enable multimedia capabilities in a variety of
products for PC/notebook, consumer electronics and surveillance
applications. Vimicro has aggressively entered the surveillance
market with system-level solutions and semiconductor products to
capitalize on China's domestic
demand. Vimicro's ADSs each represent four ordinary shares and are
traded on the NASDAQ Global Market exchange 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: the Company's ability to develop and sell
new mobile multimedia products; the expected growth of the mobile
multimedia market; the Company's ability to increase sales of
notebook camera multimedia processors; the Company's ability to
retain existing customers and acquire new customers and respond to
competitive market conditions; the Company's ability to respond in
a timely manner to the evolving multimedia market and changing
consumer preferences and industry standards and to stay abreast of
technological changes; the Company's ability to secure sufficient
foundry capacity in a timely manner; the company's ability to
effectively protect its intellectual property and the risk that it
may infringe on the intellectual property of others; and
cyclicality of the semiconductor industry. Further information
regarding these and other risks is included in Vimicro's 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 the date
hereof, and Vimicro undertakes no duty to update such information,
except as required under applicable law.
Company
Contact:
Vimicro International
Corporation
Mr. David Zhang,
Legal Manager
Phone: +86 (10) 6894
8888 ext. 7563
E-mail:
zhangxiaowei@vimicro.com
www.vimicro.com
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Investor
Contact:
Vimicro International
Corporation
Mr. John Harmon, CFA,
VP of Finance
Phone: +86 186 1151
1730 (Beijing)
E-mail:
john.harmon@vimicro.com
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SOURCE Vimicro International Corporation