SAN JOSE, Calif., Nov. 18, 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 fourth quarter of 2009. The Company currently projects revenues for the fourth quarter of 2009 to be in the range of $21 million to $23 million. The mid-point of the revised guidance range represents an increase of 22% percent sequentially from revenues of $18 million reported for the preceding quarter ended September 30, 2009 and an increase of 33 percent annually from revenues of $16.5 million reported for the quarter ended December 31, 2008. The increase in projected revenue is primarily due to stronger demand in the Company's two key end markets, security surveillance and automotive infotainment.
The outlook for revenue in the fourth quarter of 2009 was previously projected to be in the range of $19 to $20 million, or an increase of 6% to 11% from the third quarter of 2009.
The Company also expects the stronger demand in both key end markets to continue into 2010.
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 fourth 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 200 employees in the U.S., China, Japan, South Korea and Taiwan. Please visit www.techwellinc.com for more information.
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