OmniVision Q4 Profit Down

(RTTNews) - OmniVision Technologies Inc (OVTI), Thursday reported fourth-quarter profit of $6.0 million or $0.10 per share, down from $15.1 million or $0.26 per share last year.

Excluding items, adjusted earnings for the quarter dropped to $13.9 million or $0.22 per share from $23.9 million or $0.40 per share a year ago. On average, nine analysts polled by Thomson Reuters estimated earnings of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the fourth quarter dropped to $285.9 million from $331.0 million last year. Eight analysts had a consensus revenue estimate of $279.59 million for the quarter.

Looking forward to the first quarter, the company expects adjusted earnings of $0.32 to $0.48 per share on revenues of $310 million to $340 million. Analysts currently estimate earnings of $0.33 per share on revenues of $309.1 million for the quarter.