Market Overview

OmniVision Technologies Disappoints On Outlook


OmniVision Technologies, Inc. (NASDAQ: OVTI) fell over 4 percent in after-hours trading Tuesday following a disappointing earnings outlook in its Q2 financial report.

The company beat revenue and EPS estimates for the second quarter of fiscal 2015 with revenues coming in at $394.0 million, above estimates of $377.90 million and below the $397.2 million reported in the second quarter of fiscal 2014.

Non-GAAP net income was $36.9 million, or $0.60 per diluted share, above estimates of $0.51. Non-GAAP net income in the second quarter of fiscal 2014 was $34.9 million, or $0.60 per diluted share.

The company expected revenues for the third quarter of fiscal 2015 to be in the range of $275 million to $305 million, far below estimates of $331.70 million.

GAAP net income per share was guided to be between $0.09 and $0.25 per diluted share. Excluding the estimated expense and related tax effects associated with stock-based compensation, the company expected its non-GAAP net income per share will be between $0.22 and $0.38 per diluted share. Analysts had estimated $0.33

OmniVision Technologies recently traded at $25.55, down 4.6 percent.

Posted-In: Earnings News Guidance After-Hours Center


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