Reaffirms Fourth Quarter 2007 Guidance and Provides Guidance for the First Quarter of 2008
BEIJING, March 20 /Xinhua-PRNewswire-FirstCall/ -- Vimicro International Corporation (Nasdaq: VIMC), a leading fabless semiconductor company that designs and develops multimedia semiconductor products and solutions, today announced that it will report financial results for its fourth quarter and year ended December 31, 2007 on April 29, 2008 after the market closes.
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The Company reaffirmed its fourth quarter 2007 guidance issued on November 15, 2007 and continues to expect revenue to be in the range of $24 million to $27 million.
For the first quarter of 2008, Vimicro currently expects revenue to range between $15 million and $16 million. These estimated results reflect typical seasonality as well as the impact associated with the overall slowdown of the global economic environment.
Vimicro will host a conference call for analysts and investors to discuss its fourth quarter and fiscal 2007 financial results at 5:30 p.m. Eastern Time (ET) on April 29, 2008.
Fourth Quarter and Fiscal 2007 Conference Call Information:
Date: April 29, 2008
Time: 5:30 p.m. Eastern Time
U.S. Conference Call Number: 800-638-4930
International Callers: 617-614-3944
Participant Pass Code: 82115850
Additionally, a live web cast of the conference call will be accessible from the "Investors" section of the Vimicro Web site ( http://www.vimicro.com ). Following the live web cast, an archived version will be available on the Vimicro Web site.
A telephone replay of the call will also be available approximately two hours after the call and will be available until May 6, 2008 at midnight (ET). The replay number is 888-286-8010 with a pass code of 29162053. International callers should dial 617-801-6888 and enter the same pass code at the prompt.
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, Vimicro’s expectations and forecasts contain 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: Vimicro’s limited history of achieving net profit; growth strategies; Vimicro’s future business development, results of operations and financial condition; ability to develop and sell mobile multimedia processors that meet changing consumer preferences and industry standards; decrease in the demand for notebook and PC camera multimedia processors and third-party image sensors which are bundled with some of Vimicro’s PC camera multimedia processors; that multimedia opportunities associated with the 3G build out in China will make a significant contribution to Vimicro’s longer-term growth; ability to increase penetration of the PC and notebook multimedia markets; ability to secure sufficient foundry capacity in a timely manner; 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 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.
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."
