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- O2Micro International Ltd (NASDAQ: OIIM) reported first-quarter FY21 revenue growth of 49.1% year-on-year to $23.2 million, marginally missing analyst consensus of $23.3 million.
- The GAAP gross margin contracted 30 basis points to 51.6%. GAAP operating margin of 10.2% improved from a negative margin of 3.7% in the year-ago period.
- The company reported a GAAP net income of $2.5 million after a net loss of $1.5 million in the year-ago period. GAAP EPS of $0.08 marginally miss the analyst consensus of $0.09.
- O2Micro held $47.6 million in cash and equivalents.
- Advanced rising demand for its backlighting products in monitors, televisions, notebooks, and tablets as they sustained their upward trend through Q1, Chair and CEO Sterling Du said.
- Additionally, the strong revenue from its battery group extended across all sectors as its proprietary mixed-signal designs enriched cordless devices for a wide range of uses within the home and commercial markets, Du added.
- Guidance: O2Micro expects Q2 revenue between the range of $23.2 million and $25.1 million, versus the analyst consensus of $23.57 million.
- Price action: OIIM shares traded lower by 4.36% at $7.02 in the premarket session on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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