The 10-second takeaway
For the quarter ended Oct. 31 (Q2), OmniVision Technologies beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
OmniVision Technologies notched revenue of $390.1 million. The 11 analysts polled by S&P Capital IQ hoped for a top line of $375.1 million on the same basis. GAAP reported sales were 79% higher than the prior-year quarter's $217.9 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 $0.33. The 11 earnings estimates compiled by S&P Capital IQ averaged $0.30 per share. GAAP EPS of $0.19 for Q2 were 46% lower than the prior-year quarter's $0.35 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 16.6%, 1,400 basis points worse than the prior-year quarter. Operating margin was 3.6%, 540 basis points worse than the prior-year quarter. Net margin was 2.7%, 700 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $372.3 million. On the bottom line, the average EPS estimate is $0.34.
Next year's average estimate for revenue is $1.35 billion. The average EPS estimate is $1.14.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 841 members out of 883 rating the stock outperform, and 42 members rating it underperform. Among 167 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 155 give OmniVision Technologies a green thumbs-up, and 12 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 $21.15.
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