Omnivision Reports Quarterly Results

PR Newswire: OmniVision reports quarterly results for for its fiscal quarter that ended on January 31, 2013. Revenues were $423.5M, as compared to $390.1M in the previous quarter, and $185.2M a year ago. GAAP net income was $21.3M, as compared to net income of $10.3M in the previous quarter, and $111,000 a year ago. GAAP gross margin was 16.9%, as compared to 16.6% for the previous quarter, and 24.2% a year ago. The company ended the period with cash, cash equivalents and short-term investments totaling $220.3M, an increase of $80.7M from the previous quarter. The increase was attributable to cash provided by operating activities in the quarter.

Based on current trends, Omnivision expects revenues for the next quarter will be in the range of $300M to $330M, and GAAP net income be between $0.00 and $8M.

Seeking Alpha published Omnivision earnings call transcript. An interesting quote:

Hans Mosesmann - Raymond James:

Can you confirm that the BSI-2 yields are where you need them to be and if not how long will that take for us to see that?

Shaw Hong - CEO:

I think we are very comfortable with what we have done to date in terms of coming up with improvements on the production yield ...the yield should not be much of a concern for any one, but I do want to point out is that if in case you want to take this comment to project our next year's performance, likely we will be introducing new SKUs with the producing different parts by then. So essentially, our operation team we have to go through another cycle of yield improvement process.