Vimicro (VIMC +41.2%) expects to report Q4 revenue of $21M-$22M, well above prior guidance of $13.5M-$15.5M. The video processor/surveillance camera IC developer is also guiding for Q1 revenue of $15M-$17M, up from a year-ago level of $7.9M.
The sole analyst covering Vimicro has forecast Q4 revenue of $20M, and Q1 revenue of $12M.
Vimicro International (VIMC) shares rocket up 22.2% AH after the company's Chinese subsidiary receives an ~$41M order (of which Vimicro will receive ~$16M) for Surveillance Video and Audio Coding tech from the Baoding Public Security Bureau.
The installed network will consist of several thousand video surveillance stations; the project represents the first phase of a multi-year deployment commencing in Q4.
Management expects Q4 revenue of $3.5M-$4.5M from its PC and notebook image processor ops and at least $9M-$11M in revenue from its surveillance products business.
Vimicro International Corp and its subsidiaries designs, develops and markets semiconductor products with multimedia applications, including personal computer, camera multimedia processors and security processors.