PR-Newswire: Omnivision reported financial results for the fiscal fourth quarter and fiscal year ended April 30, 2010. Revenues for the fourth quarter of fiscal 2010 were $157.2M, as compared to $156.9M in the third quarter of fiscal 2010, and $89.1M in the fourth quarter of fiscal 2009. GAAP net income was $3.5M, as compared to net income of $5.0M in the third quarter of fiscal 2010, and a net loss of $20.1M in the fourth quarter of fiscal 2009.
Revenues for the fiscal year ended April 30, 2010 were $603.0M, as compared to $507.3M in fiscal 2009. The Company ended the period with cash, cash equivalents and short-term investments totaling $333.6M.
Gross margin for the fourth quarter of fiscal 2010 was 24.9% as compared to 24.6% for the third quarter of fiscal 2010 and 17.0% for the fourth quarter of fiscal 2009. The sequential increase in fourth quarter gross margin reflected a reduction in the revenues recorded from the sale of previously written-down inventory net of additional allowances for excess and obsolete inventories.
The company expects fiscal first quarter 2011 revenues will be in the range of $190M to $210M.
i was on yesterday's conference call. i was unimpressed by the reported quarter but was impressed by the guidance for the current quarter assuming OVT lands in the upper half of the range.
ReplyDeleteit appears that because of its new seasonality shift announced two quarters ago, involving a shift from the west to the east in terms of holidays (chinese new year v. christmas, etc..), the july quarter is now the big quarter instead of the october quarter. the executives failed to indicate if the october quarter is likely to be as big as in the past but instead said that they could not forecast out beyong the current quarter (which is already one month expired).
it's interesting that although they were able to increase higher resolution unit product mix from 30% to 40% for higher than vga product, they were only able to increase asp from 1.18 to 1.26, and increase margins by 20 basis points.
also, the failure of executives to opine on the sustainability of asp and margin improvement beyong the current july quarter was bothersome as was the remark that improvement in low yields for bsi product may not become evident if at all for up to 6 more months.