Vimicro sees net loss narrow in Q3

Nov. 4, 2009 (China Knowledge) - China-based Vimicro International Corp<VIMC>, a multimedia semiconductor and solution provider, yesterday announced its quarterly results, which show that its net loss, computed according to the U.S. Generally Accepted Accounting Principles, was US$4.3 million in the third quarter, compared with US$8.2 million in the second quarter, sources reported.

Diluted loss per ADS was US$0.08 in Q3 2009, compared with US$0.24 a quarter earlier.

The net revenue was US$20.5 million in the third quarter of this year, compared with US$18.7 million a quarter earlier. The firm originally predicted that its third quarter net revenue would be between US$18 million and US$20 million.

Notebook camera processor sales grew 54% thus leading to an increase in operating revenue in the third quarter of this year, said John Deng, Vimicro's chairman and CEO, adding that the firm will take advantage of opportunities in the fast-growing Chinese 3G market through the partnership with Leadcore and the acquisition of Video Surveillance System from Alcatel-Lucent Shanghai Bell Ltd Co.

Vimicro predicted that its revenue in the fourth quarter of this year will be between US$23 million and US$25 million, up 12% to 22% from a quarter earlier.