The 10-second takeaway
For the quarter ended July 31 (Q1), OmniVision Technologies beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped significantly.
Margins dropped across the board.
OmniVision Technologies reported revenue of $258.1 million. The 11 analysts polled by S&P Capital IQ hoped for revenue of $243.4 million on the same basis. GAAP reported sales were 6.5% lower than the prior-year quarter's $276.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.21. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. GAAP EPS of $0.04 for Q1 were 94% lower than the prior-year quarter's $0.68 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 19.1%, 1,260 basis points worse than the prior-year quarter. Operating margin was -0.3%, 1,500 basis points worse than the prior-year quarter. Net margin was 0.9%, 1,430 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $373.3 million. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $1.33 billion. The average EPS estimate is $1.16.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 849 members out of 894 rating the stock outperform, and 45 members rating it underperform. Among 162 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 147 give OmniVision Technologies a green thumbs-up, and 15 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on OmniVision Technologies is outperform, with an average price target of $20.15.
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