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.