OmniVision: FY Q3 EPS Tops Ests; Outlook Light; Stock Up
OmniVision (OVTI) shares are higher in after hours trading on better than expected profits for the fiscal third quarter ended January.
For the quarter, OmniVision reported revenue of $224.9 million and pro forma EPS of 55 cents. The Street was expecting the image sensor company to report $225.1 million and 46 cents.
For the fiscal fourth quarter, OVTI sees revenue of $170 million to $190 million, with non-GAAP EPS of 27-40 cents. The Street sees $193.6 million and 32 cents.
Interesting to look back at Tuesday’s upgrade of the stock by Jefferies, which asserted that the outlook would be weak, but that it was broadly expected.
After hours, OVTI is up $1.14, or 8.2%, at $15.13.
OVTI is breaking out
China snow storms held Omnivision
back from another blow out quarter. ASP declines were expected. Very positive guidance.
the BETTER MARGINS in 2nd half and beyond is the story
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
