Omnivision Falls on Q3 Results

OmniVision

a digital image sensor provider, released its fiscal third-quarter earnings results after the closing bell on Thursday. In after-hours trading, the stock was last down 10 percent after the company released disappointing guidance. For the third-quarter, non-GAAP earnings per share was $0.56 compared to estimates of $0.40. Revenue in the period rose to $423.5 million from $185.2 million in the year ago period. This also beat Wall Street consensus of $411.4 million. Looking ahead to the fourth-quarter, the company said that it expects revenue between $300 million and $330 million, which is well below Street consensus of $371.4 million. Earnings per share for the quarter are expected to be between $0.14 and $0.29, which compares to current estimates of $0.32.