OmniVision Earnings Disappoint

Santa Clara, Calif.-based OmniVision Technologies (NASDAQ: OVTI  ) shares fell nearly 10% in after-hours trading Thursday, after the camera chipmaker reported fiscal Q1 2014 earnings that fell short of analyst expectations on both the top and bottom lines.

OmniVision reported net profits of $0.42 per share, a nearly 150% increase over last year's $0.17 profit, but $0.01 short of analysts' expected $0.43 profit. Revenues of $373.7 million just missed consensus expectations for $376.6 million.

The fact that sales grew 45% year over year, while profits increased nearly three times as fast, failed to win over investors, however, and guidance appears to be to blame. OmniVision told investors to expect earnings to range anywhere from $0.21 per share, to $0.38 in fiscal Q2, but analysts were predicting a minimum of $0.49 per share in profit. Similarly, OmniVision's promise of revenues ranging from $375 million to $410 million suggests that the company may have difficulty hitting analysts' target of $406 million in revenue.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2616597, ~/Articles/ArticleHandler.aspx, 10/31/2014 3:53:14 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement