OmniVision Technologies Falls on Q4 Earnings Results

OmniVision Technologies OVTI released its fiscal fourth-quarter earnings results after the closing bell on Thursday. The company reported net income attributable to the company of $2.7 million or $0.05 per share, compared to $34.0 million or $0.56 per share in the prior year quarter. On an adjusted basis, which is comparable to analysts' consensus, OVTI reported net income of $10.9 million or $0.20 per share, versus $40.8 million or $0.66 per share, in last year's fourth-quarter. This compared to Wall Street consensus EPS estimates of $0.22. Revenues were $218.55 million compared to $258.27 million last year. This exceeded Wall Street consensus revenue expectations of $205.39 million. Looking ahead, OVTI said that it expects adjusted EPS of $0.16 to $0.27 in the first-quarter on revenues of $235 million to $255 million. This compares to analysts' current Q1 earnings estimates of $0.29 per share on revenues of $219.20 million. In Thursday's after hours trading session, OVTI shares have lost 4.51% to $15.46. During normal trading hours, the stock jumped 6.45% to $16.18 after an upgrade from JP Morgan analysts.