SAN JOSE, Calif., Sept. 25, 2009 (GLOBE NEWSWIRE) -- Techwell, Inc., (Nasdaq:TWLL), a leading designer of mixed signal semiconductors for the security surveillance and automotive infotainment markets, today updated its revenue guidance for its third quarter of 2009. The Company currently projects revenues for the third quarter of 2009 to be in the range of $17 million to $18 million, an increase of 42 to 50 percent sequentially from revenues of $12 million reported for the preceding quarter ended June 30, 2009. The increase in projected revenue is primarily due to increased demand in the Company's two key end markets, security surveillance and automotive infotainment.
The outlook for revenue in the third quarter of 2009 was previously projected to be in the range of $16 to $17 million, or an increase of 33% to 42% from the second quarter of 2009.
Techwell plans to hold its regularly scheduled earnings conference call on October 29, 2009 after the market close to discuss financial results for the third quarter of 2009.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by terminology such as may, will, could, should, anticipate and expect and the negative of these terms or other similar expressions. These are statements that relate to future events and include, but are not limited to Techwell's anticipated revenue for the third quarter of 2009. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in these forward-looking statements. These risks and uncertainties include but are not limited to: Techwell's dependence on increased demand for digital video applications for the security surveillance and automotive markets, the potential decline in average selling prices for Techwell's products, competition, dependence on key and highly skilled personnel, the ability to develop new products, as well as other risks detailed from time to time in its SEC filings, including those described in Techwell's Quarterly Report on Form 10-Q filed on August 6, 2009 with the Securities and Exchange Commission. Statements included in this release are based upon information known to Techwell as of the date of this release, and Techwell assumes no obligation to update information contained in this press release.
About Techwell
Techwell is a fabless semiconductor company that designs, markets and sells mixed signal video semiconductor solutions for the security surveillance and automotive infotainment markets. Headquartered in San Jose, CA, Techwell currently has over 160 employees in the U.S., China, Japan, South Korea and Taiwan. Please visit www.techwellinc.com for more information.
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