OmniVision Technologies reports 4th-quarter net income on boost in sales
By APFriday, May 28, 2010
OmniVision Technologies reports 4Q net income
SANTA CLARA, Calif. — OmniVision Technologies Inc., which makes chips for digital cameras and webcams, on Thursday reported fiscal fourth-quarter net income on a boost in sales.
The company earned $3.5 million, or 7 cents per share, compared with a loss of $20.1 million, or 40 cents per share, during the same period last year. Revenue jumped 76 percent to $157.2 million from $89.1 million.
Excluding one-time items, the company said it earned 18 cents per share. Analysts polled by Thomson Reuters expected net income of 17 cents per share on revenue of $154.6 million.
The fiscal 2010 fourth-quarter and year ended April 30.
For the full fiscal year, the company earned $6.7 million, or 13 cents per share, compared with a loss of $37.3 million, or 74 cents per share, a year prior. Revenue rose to $603 million from $507.3 million.
Looking ahead, the company said it expects second-quarter net income, excluding items, between 27 cents and 40 cents per share on revenue between $190 million and $210 million. Analysts expect net income of 22 cents per share on $170.9 million in revenue.
OmniVision’s shares rose $1.58, or 8.7 percent, to $19.80 in after-hours trading after closing at $18.22 during the regular
