Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of OmniVision Technologies
So what: Revenue in the first quarter of its fiscal 2013 came out to $258.1 million, which turned into adjusted non-GAAP net income of $11.6 million, or $0.21 per share, by the time it reached the bottom line. Sales beat estimates, but earnings fell short; but the real news was in second quarter guidance.
Now what: OmniVision expects next quarter to see sales of between $355 million and $390 million. That’s a very solid indication that the company has scored the backside illuminated sensor spot in Apple’s
Interested in more info on OmniVision? Add it to your watchlist by clicking here.