Dallas, Texas 01/23/2014 (FINANCIALSTRENDS) – Vimicro International Corporation (ADR) (NASDAQ:VIMC) has been riding high at the start of the year, following an increase in the requirement for surveillance devices and technology by the Chinese government. The shares for the international division of the business noted a high of over 22.2% following the confirmation of the order valued at $41million. The order was placed by the Baoding Public Security Bureau to increase the Surveillance Video and Audio Coding technology services. Vimicro will see network expansion
Vimicro International Corporation (ADR) (NASDAQ:VIMC) will receive over $16 million of the total order. This will help the company to participate in a network which will provide a series of surveillance stations. The program for developing and installing surveillance technology and components will be spread over several years following the actual work execution to begin only in the last quarter of the current fiscal.
Vimicro International Corporation (ADR) (NASDAQ:VIMC) expects that by the time of the fourth quarter the company will have seen revenue earnings to the tune of $4.5million or lesser at $3.5 million. The company expects to see this revenue income to earned from the Pc as well as the image processor operations for its notebook. Additional $9 million to $11 million is expected to come from the surveillance consumer segment.
Vimicro International Corporation (ADR) (NASDAQ:VIMC) operates in a niche technology sector which offers consumer level display solutions. As most company’s engage in multimedia advertisements, signage’s or similar electronic gadgets and communication devices the need for hardware and technology to drive these too has become sophisticated, thanks to company’s such as Vimicro. The company is also engaged in the development of mixed signal as well as system-level technology for such other components as surveillance applications besides communications sector as well.
Vimicro International Corporation (ADR) (NASDAQ:VIMC) currently trades at $3.60 per share, which is slide down of 5.26% over previous close. The 52 week trading high for the company has been $3.72 and 52 week low for the company has been $1.10. The EPS is -0.38. VImicro is a China based electronic and signals service provider.