Thursday, July 16, 2009

Vimicro International 20F

Revenue by product line percentage of total:
  • PC and embedded notebook camera multimedia processors: $36.3M or 42%
  • Image sensors: $17.2M or 19.8%
  • Mobile phone multimedia processors: $20.3M or 23.5%
  • Other including digital surveillance: $12.7M or 14.7%

Customer concentration:
"Our top ten customers collectively accounted for approximately 76%, 69% and 71% of our revenue in 2006, 2007 and 2008, respectively.......Hanvision Electronic Co., Ltd., or Hanvision, and Tomen Electronics Corporation, or Tomen, became our major customers in 2008 and sales to each of Hanvision and Tomen accounted for over 10% of our net revenue in 2008."

Wafer foundries:
"TSMC historically manufactured substantially all of our multimedia processors. To diversify our wafer suppliers and reduce our significant dependence on a single foundry, we began to use Semiconductor Manufacturing International Corporation, or SMIC, to manufacture some of our products in 2004. In 2006, 2007 and 2008, third-party foundries other than TSMC manufactured 43%, 57%, and 39%, respectively, of our multimedia processors."

Process geometries: "The bulk of our multimedia processors are manufactured with 0.18 micron and 0.09 micron CMOS process technologies. We are developing new products that will be manufactured using even more advanced 90 nanometer CMOS process technology."

Assembly and test: "Currently, we engage ASE and Siliconware Precision Industries Co., Ltd., or SPIL for our assembly and testing requirements.........In 2006, we replaced ASAT Holdings Limited, or ASAT, with SPIL to better serve our clients."

Patent foundation: "As of December 31, 2008, we owned 428 patents in China and had 1,074 pending patent applications in China, owned five patents and had 53 pending patent applications in the United States, had eight pending patent applications in Taiwan, three pending patent applications in Japan and three pending patent applications in Korea."

Employees: "We had 588, 568 and 663 employees as of December 31, 2006, 2007 and 2008, respectively. As of December 31, 2008, we had 79 employees in management and administration, 523 employees in research and development and 61 employees in sales and marketing."