Wednesday, December 03, 2014

Omnivision Reports Quarterly Results

PRNewswire: OmniVision's revenues for the quarter that ended on October 31, 2014 were $394.0M, as compared to $406.5M in the previous quarter, and $397.2M a year ago. Based on current trends, the company expects revenues for the next quarter will be in the range of $275M to $305M.

Non-GAAP net income was $36.9M. GAAP gross margin was 22.0%, as compared to 21.7% for the previous quarter, and 18.8% a year ago. The sequential increase gross margin reflected an increase in revenues recorded on the sale of previously written-down inventory and a continued mix shift towards the newer generation products. The Company ended the period with cash, cash equivalents and short-term investments totaling $525.2 million, a slight increase of $1.0 million from the previous quarter.

"Our mobile phone and automotive products continue to be the drivers behind our strong results this quarter," said Shaw Hong, CEO of OmniVision. "We are pleased with our execution in China, and with the emergence of India as a key geography for us. We are also excited about the launch of our high-performance stacked-die PureCel-S products, which demonstrates our technology leadership."

SeekingAlpha publishes Omnivision conference call transcript with more details of the past quarter business.

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