OmniVision shares jump on higher sales guidance
SANTA CLARA, Calif. (AP) — Image sensor maker OmniVision Technologies Inc. on Thursday reported better-than-expected revenue for its fiscal first quarter, and it raised its revenue outlook for the current quarter.
Its shares rose $1.39, or 8.7 percent, to $17.30 in afterhours trading.
OmniVision said revenue for the three months ending in July fell 6.5 percent to $258 million. Profit fell to $2.3 million, or 4 cents per share, from $42 million, or 68 cents per share in the prior-year period. Excluding one-time items the company would have earned 21 cents per share.
Analysts polled by FactSet expected adjusted earnings of 22 cents per share on revenue of $243.4 million.
In its second quarter the company expects earnings without one-time items of 21 to 37 cents per share on revenue of $355 million to $390 million. Analysts estimated 33 cents per share on revenue of $270.3 million for the current quarter.
OmniVision makes image sensor devices used in consumer electronics including digital cameras, mobile phones, and computer Webcams