Boston, MA 05/30/2013 (wallstreetpr) – The prices of American Depository Receipts of Vimicro International Corporation ADR (NASDAQ:VIMC) had declined to the extent of 8.58 percent to close at $1.60 per share for the end of last trading session. The ADRs of the company had been trading in the range of $1.30 to $1.60 during the day before closing at $0.15 lower than the closing price of previous trading session.
Vimicro International Corporation ADR (NASDAQ:VIMC) is involved in providing semiconductor products and system level solutions to multimedia markets and has its operations based in China. The company is involved in the design, development and marketing of such products and solutions for the consumer electronics, communications and surveillance markets.
First Quarter Financial Results
Vimicro International Corporation ADR (NASDAQ:VIMC) had recently reported a loss of 7 cents per American Depository Share in its first quarter financial results with a declined revenue of $7.9 million. This decrease in the revenue to the extent of 29 percent over the same quarter of previous year was attributed to lower sales of personal computers and notebook multimedia processors.
The 52 week high price level for the ADRs of Vimicro International Corporation ADR (NASDAQ:VIMC) had been recorded at $1.86 per ADR and the 52 week low price level had been recorded at $0.69 per ADR. The company presently holds 29.56 million American Depository Receipts outstanding in the market with an institutional ownership of 8 percent of its holdings. The average trading volume in the company is at 13,383 ADRs per day.