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OmniVision Technologies Inc. (NASDAQ:OVTI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
OmniVision Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 330.77% to $0.56 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Rose 128.68% to $423.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: OmniVision Technologies Inc. reported adjusted EPS income of $0.56 per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $411.35 million.
Quoting Management: “I am proud to report that we have set a new record for ourselves in the third quarter, in both dollar revenues and unit shipments. It is also the fourth consecutive quarter that OmniVision has posted higher revenues,” said Shaw Hong, chief executive officer of OmniVision Technologies, Inc. “We are also pleased to report an incremental improvement in gross margin, while at the same time noting that more work remains.”
Key Stats (on next page)…
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