Vimicro releases first-quarter results

Semiconductor company Vimicro has announced that, for the first quarter ended 31 March 2010, net revenue was $20.1m (£13.7m), compared with $10m in the first quarter of 2009 and $23.7m in the fourth quarter of 2009.

Gross margin was 33.6 per cent of revenue, up from 29.7 per cent in the fourth quarter, while first-quarter 2010 net loss, prepared in accordance with GAAP, was $5.7m.

Net loss attributed to Vimicro was $4.4m in the first quarter, or $0.12 loss per ADS, compared with a net loss of $6.7m, or $0.19 loss per ADS, in the first quarter of 2009 and a net loss of $0.6m, or $0.02 loss per ADS, last quarter.