Vimicro Int'l (VIMC) Misses Q3 EPS by 5c

Vimicro Int'l (NASDAQ: VIMC) reported Q3 EPS of $0.02, $0.05 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $27.6 million versus the consensus estimate of $26 million.

Dr. John Deng, Vimicro’s Chairman and Chief Executive Officer, commented, “We are very pleased to report a solid financial and operational result for the third quarter. For the nine-month period ended September 30, 2014, we achieved significant non-GAAP net income of $3 million and $0.11 per diluted ADS, while maintaining a decent revenue growth of 57.9% on a year-over-year basis, driven by strong growth in our video surveillance business. With continued contract wins from our traditional territories such as Shanxi Province, and entrance into new geographic base such as Hunan Province, we are seeing greater demand for SVAC-compliant video surveillance products across the country. We are confident that our financials will continue to show satisfactory results going forward, while benefiting from China’s mega-trend of expedited adoption of domestic IT technology and national standard. As a co-leading developer of SVAC national video surveillance standard and the only proven provider of SVAC-compliant technology and solution, Vimicro will capitalize on its first-mover advantages to further establish itself in China’s robust video surveillance market. “

Vimicro Int'l sees Q4 2014 revenue of $30 - $32 million, versus the consensus of $26.0 million.

For earnings history and earnings-related data on Vimicro Int'l (VIMC) click here.

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