Vimicro International Corporation (ADR) (NASDAQ:VIMC)

davesurf

giro in Apixedda
Registrato
5/2/04
Messaggi
1.187
Punti reazioni
42
dopo l'iniziale boom della quotazione, sta consolidando, alto tasso di crescita.
il p/e un po alto :D , basso indebitamento ;)

questo il 1°Q 06

BEIJING, April 26 /PRNewswire-FirstCall/ -- Vimicro International
Corporation (Nasdaq: VIMC), a leading fabless semiconductor company that
designs and develops multimedia semiconductor products and solutions, today
announced its unaudited first quarter 2006 financial results.
Net revenue in the first quarter of 2006 was $26.4 million, compared
with $27.5 million in the fourth quarter of 2005 and up 70 percent from the
$15.5 million reported in the first quarter of 2005.
First quarter 2006 net income prepared in accordance with generally
accepted accounting principles ("GAAP") was $3.8 million, compared with net
income of $5.7 million in the fourth quarter of 2005 and net income of $1.0
million in the first quarter of 2005. Diluted earnings per ADS (each
representing four ordinary shares) were $0.10, compared with $0.17 in the
fourth quarter of 2005 and $0.03 in the first quarter of 2005.
Non-GAAP net income in the first quarter, which excludes a $631,000
non- cash share-based compensation charge, was $4.5 million, compared with
$6.0 million in the fourth quarter of 2005 and $1.8 million in the first
quarter of 2005. Fourth quarter 2005 non-GAAP net income excludes a
$205,000 non-cash share-based compensation charge. Non-GAAP diluted net
earnings per ADS for the first quarter of 2006 were $0.12, compared with
$0.18 in the fourth quarter of 2005 and $0.06 in the first quarter of 2005.
Gross margins in the first quarter of 2006 were 38.3 percent, compared
with 40.3 percent in the fourth quarter of 2005 and approximately 34.7
percent in the first quarter of 2005.
"I am very proud of the significant accomplishments we achieved in the
first quarter," said Dr. John Deng, chairman and CEO. "The first quarter
was very special in two particular aspects. First, we continued to
demonstrate the strength and execution capability of the Vimicro team in
the last two quarters since we have been a public company. Secondly, we
demonstrated our innovative leadership by successfully leveraging our
mix-signal expertise and digital signal processing technology for
multimedia solutions to launch new innovative products. We gained further
momentum in the fast growing mobile handset multimedia market, both in
China and internationally," said Dr. Deng. "Both factors are very important
for Vimicro to continue enhancing its long-term shareholder value."
First Quarter 2006 Highlights

* Achieved 70 percent revenue growth year-over-year. This signifies
the strong execution capabilities of the Vimicro team.
* Announced the successful launch of the Vinno Product Family, an
industry-leading single-chip mixed-signal mobile multimedia
processor with a high level of integration of multimedia functions.
The launch was three months earlier than planned.
* The company's strong sales momentum and notebook multimedia
processors continued to be driven by industry leaders such as SONY,
Acer and Asustek.
* Major players such as Skype, MSN and Yahoo! are pushing for video
over IP, replacing traditional text communication or voice over IP.
This trend will continue to increase the demand for PC multimedia
processors from Vimicro.

Business Outlook
The company expects net revenue for the second quarter of 2006 to be in
the range of $30.0 to $32.0 million and non-GAAP diluted earnings per ADS
to be between $0.13 and $0.15.
Conference Call
Vimicro will broadcast its conference call discussion of its first
quarter fiscal year 2006 financial results today, Wednesday, April 26, 2006
at 2:00 p.m. Pacific time (5:00 p.m. Eastern time).
To listen to the call, please dial (415) 228-4973 approximately 10
minutes prior to the start time. The pass code is: Vimicro. A taped replay
will be available approximately one hour after the conclusion of the call
and will remain available for one week. To access the replay, dial (402)
998-0883.
The Vimicro financial results conference call will be available via a
live webcast on the investor relations section of the company's web site at
http://www.vimicro.com. Please access the web site approximately 15 minutes prior
to the start of the call to download and install any necessary audio
software. An archived webcast replay of the call will be available at the
web site for one year.
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 Business Outlook section and
the quotations from management in this announcement, as well as Vimicro's
strategic and operational plans, 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 registration statement
on Form F-1, as amended, 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.
Non-GAAP Measures
To supplement the consolidated financial statements presented in
accordance with GAAP, Vimicro uses non-GAAP measures of non-GAAP net income
and non-GAAP diluted net earnings per ADS, which are adjusted from the most
directly comparable financial measures calculated and presented in
accordance with GAAP to exclude amortization of share-based compensation
expenses. These non-GAAP financial measures are provided to enhance
investors' overall understanding of the company's financial performance as
they exclude certain expenses that are not expected to result in future
cash payments. The non- GAAP measures should be considered in addition to
results prepared in accordance with GAAP, but should not be considered a
substitute for or superior to GAAP results. For more information on the
non-GAAP financial measures, please see the tables captioned
"Reconciliation of non-GAAP results of operations measures to the nearest
comparable GAAP measures" set forth at the end of this release.
Vimicro believes that both management and investors benefit from
referring to these non-GAAP measures in assessing the performance of
Vimicro's liquidity and when planning and forecasting future periods. These
non-GAAP financial measures also facilitate management's internal
comparisons to Vimicro's historical liquidity. Vimicro computes its
non-GAAP financial measures using the same consistent method from quarter
to quarter. The accompanying tables have more details on the GAAP financial
measures that are most comparable to non-GAAP financial measures and the
related reconciliations between financial measures.
Currency Translation
This announcement contains translations of certain RMB amounts into
U.S. dollars. Unless otherwise noted, all translations from RMB to U.S.
dollars are based on the noon buying rate in The City of New York for cable
transfers of RMB as certified for customs purposes by the Federal Reserve
Bank of New York as of March 31, 2006 (the last business day of first
quarter 2006), which was RMB 8.0167 to US$1.00.
Vimicro International Corporation
Consolidated Balance Sheets

Assets 3/31/2006 12/31/2005
(unaudited) (unaudited)
Current assets:
Cash 100,235 100,610
Accounts receivable, net 3,844 4,003
Notes receivable 314 1,001
Inventories, net 23,752 21,173
Prepayments and other current assets 1,924 1,930
Deferred tax assets 3,227 2,935
Total current assets 133,296 131,652

Investment in an associated company 171 171
Property, equipment and software, net 5,290 4,960
Other assets 337 327

Total assets 139,094 137,110

Liabilities and Shareholders' Equity

Current liabilities:
Accounts payable 5,116 4,228
Taxes payable 3,127 3,278
Advances from customers 268 171
Due to an associated company 65 64
Accrued expenses and other current
liabilities 6,057 9,079
Deferred grants 370 895
Total current liabilities 15,003 17,715

Non-current liabilities:
Deferred tax liabilities 230 230

Total liabilities 15,233 17,945

Commitments and contingencies

Shareholders' equity:
Ordinary shares, $.0001 par value.
138,606,027 shares issued and
outstanding as of March 31, 2006
and December 31, 2005 14 14
Additional paid-in capital 127,450 127,502
Deferred share-based compensation -- (682)
Accumulated other comprehensive income 832 596
Accumulated deficit (4,435) (8,265)

Total shareholders' equity 123,861 119,165

Total liabilities and
shareholders' equity 139,094 137,110


Vimicro International Corporation
Consolidated Statements of Income

06Q1 05Q4 05Q1
(unaudited) (unaudited) (unaudited)
US$'000 (except number of shares and per share data)
Net revenue 26,405 27,484 15,549
Cost of revenue (16,297) (16,418) (10,154)

Gross profit 10,108 11,066 5,395

Operating expenses
Research and
development, net (3,102) (2,661) (1,530)
Selling and marketing (1,440) (1,446) (1,100)
General and
administrative (2,135) (1,629) (1,629)

Income from
operations 3,431 5,330 1,136

Other income (expense):
Interest income 965 426 54
Tax refund -- 3 --
Others, net (185) (9) 3

Income before income
taxes and share of loss of
associated company 4,211 5,750 1,193

Income taxes expense (379) (75) (175)

Net income before share
of loss of an
associated company 3,832 5,675 1,018

Share of loss of associated
company, net of tax (2) (1) (1)

Net income 3,830 5,674 1,017

Amount allocated to
participating
preferred shareholders -- (494) (159)

Other comprehensive loss:
Foreign currency translation
adjustment 236 99 2

Comprehensive income 4,066 5,279 860

Income per share
-Basic 0.03 0.05 0.01
-Diluted 0.03 0.04 0.01

Income per ADS
-Basic 0.11 0.19 0.04
-Diluted 0.10 0.17 0.03

Weighted average number
of ordinary shares
outstanding
-Basic 136,656,027 111,868,915 82,147,440
-Diluted 146,845,607 120,626,822 99,580,667

Weighted average number
of ADS outstanding
-Basic 34,164,007 27,967,229 20,536,860
-Diluted 36,711,402 30,156,705 24,895,167

*Components of share-based
employee compensation
expenses are included in
the following expense
captions:
Research and development (257) (46) (80)
Selling and marketing (131) (59) (96)
General and administrative (60) (100) (516)
Total (448) (205) (692)
Reconciliations of non-GAAP results of operations measures to the
nearest comparable GAAP measures (*) (in USD thousands, unaudited)
Three months ended
March 31, 2005
GAAP Non-GAAP
Result Adjustment Results
Income from operations 1,136 755 1,891

Three months ended
March 31, 2005
GAAP Non-GAAP
Result Adjustment Results
Net income 1,017 755 1,772


Three months ended
December 31, 2005
GAAP Non-GAAP
Result Adjustment Results
Income from operations 5,330 292 5,622

Three months ended
December 31, 2005
GAAP Non-GAAP
Result Adjustment Results
Net income 5,674 292 5,966


Three months ended
March 31, 2006
GAAP Non-GAAP
Result Adjustment Results
Income from operations 3,431 631 4,062

Three months ended
March 31, 2006
GAAP Non-GAAP
Result Adjustment Results
Net income 3,830 631 4,461
 
c'è poco grafico, quotata a metà novembre, da notare come segue i rintracciamenti di fibonacci ;)
 

Allegati

  • vimc.PNG
    vimc.PNG
    40,3 KB · Visite: 167
volumi in aumento, spero arrivi al 61,8% o alla dinamica verde.
 

Allegati

  • vimc.PNG
    vimc.PNG
    38,2 KB · Visite: 161
sembra in ripartenza.
 

Allegati

  • vimc.PNG
    vimc.PNG
    41 KB · Visite: 147
messo un leggero ordine a 14$, spero ci arrivi entro venerdì.
 

Allegati

  • vimc.PNG
    vimc.PNG
    41,7 KB · Visite: 146
saltato lo stop sulle 100 prese a 14$, se conferma la rottura attendo i 10,7$ ;)
 
nuovamente ai 61,8% di fibonacci, sembra voler scendere ancora, aspetto.
 

Allegati

  • vimc.PNG
    vimc.PNG
    40,9 KB · Visite: 112
si fa più seria la discesa, aspetto una candela di inversione.
 

Allegati

  • vimc.PNG
    vimc.PNG
    44,8 KB · Visite: 112
sembra un harami bottom, vediamo oggi.
 

Allegati

  • vimc.PNG
    vimc.PNG
    43,7 KB · Visite: 91
secondo tentativo di rompere la 100.
 

Allegati

  • vimc.PNG
    vimc.PNG
    49,3 KB · Visite: 121
e forse questa è la volta buona :D

ne ho prese 1200 a 5,9$

nuovo direttore finanziario e il 12 c.m. i conti.
 

Allegati

  • vimc.PNG
    vimc.PNG
    44,8 KB · Visite: 116
Mmmh, allora mi sa che io aspetterò il 12 ;)
 
devo dire che ha veramente rotto i cocomeri, 114 mil.$ in cash, 0 debiti, 190 mil.$ di capitalizzazione e una buona possibilità di ripresa del fatturato.
spero sia la volta buona. :D

ciao
 

Allegati

  • vimc.PNG
    vimc.PNG
    43,1 KB · Visite: 66
volumi in aumento, vediamo se supera i 6$;)
 
dentro ora a 5,90 tra un po parte occhio
 
e non la finisce più di scendere.
dall'ultima trimestrale trovo Cash per 119,849 milioni e debiti irrisori, ne vale 126 mil. adesso:rolleyes:
 
sembratenere i 3,5$, mi preparo a mediare.

riusciranno i nuovi prodotti a far ripartire il fatturato?

cià:D
 
Indietro