Friday, February 26, 2010

Omnivision Reports Quarterly Results

Yahoo: Omnivision reported results for Q3 of fiscal 2010 ended January 31, 2010. Revenues for the third quarter of fiscal 2010 were $156.9M, as compared to $183.3M in the second quarter of fiscal 2010, and $80.0M in the third quarter of fiscal 2009. GAAP net income in the third quarter of fiscal 2010 was $5.0M, as compared to $8.1M in the second quarter of fiscal 2010, and a net loss of $18.2M in the third quarter of fiscal 2009.

Gross margin for the third quarter of fiscal 2010 was 24.6% as compared to 24.0% for the second quarter of fiscal 2010 and 22.4% for the third quarter of fiscal 2009. The sequential increase in gross margin reflected a slightly improved product mix and a reduced inventory valuation exposure due to the improving business outlook.

Based on current trends, the company expects fiscal fourth quarter 2010 revenues will be in the range of $145M to $160M.

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