After Sharp Fall, Techwell Revenue Starts to Increase

By: John Honovich, Published on Mar 14, 2010

Major DVR component manufacturer, Techwell [link no longer available] is showing signs of recovery after a steep drop in H1 2010. By Q2 2009, surveillance revenue had dropped 39% [link no longer available] year over year (see p.15 of the 10k). Now, Q4 2009, show surveillance revenue up 11.5% over Q4 2008 ($15.4 Million USD in Q4 2009 [link no longer available] vs. 13.8 Million USD in Q4 2008 [link no longer available]).

Techwell's explanation of the sharp decline and rebound [link no longer available]:

"As end market demand failed rapidly our customers were left with a buildup of inventory in their channel and with little visibility on when demand for their solutions would return. As a result, our security business dropped significantly in the first quarter of this year ...Towards the end of the second quarter, we began to see our security customers’ forecast for the second half of the year improved significantly. Customers are now reporting that the end market demand is on pace to return to ’08 levels by the fourth quarter."

Techwell emphasized the growing strength of China [link no longer available] in its recovery:

"Our China customers are benefiting from the relative strength in the Chinese domestic economy and their access to low cost engineering and manufacturing. As a result, they are capturing the bulk of Chinese domestic security surveillance market as well as taking share in the European and North American markets."

An important question is whether Techwell's rebound presages a general increase for analog CCTV suppliers or does it reflect a shift/growth in the Chinese market? We are not able to answer this question with the information we possess currently.

1 report cite this report:

Techwell Acquired for Significant Premium on Apr 27, 2010
Analog CCTV component provider Techwell was acquired for a robust premium...
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