Vimicro announces third quarter results

Multimedia semiconductor provider Vimicro has announced its financial results for the third quarter ended 30 September 2010.

Net revenue in the third quarter of 2010 was $26.5m (£16.4m), compared to $26.4m in the second quarter and $20.5m in the third quarter of 2009.

For the first nine months of 2010 revenue totaled $73m, a 48 per cent increase compared to $49.2m for the same period in 2009, primarily due to the company’s expanded product offerings in high growth markets.

Gross margin in the third quarter of 2010 was 31 per cent compared to 34 per cent in the previous quarter due to product mix within the quarter.