OmniVision Technologies Q1 Profit Rises; Issues Q2 Outlook - Quick Facts

(RTTNews) - OmniVision Technologies Inc (OVTI) Thursday reported first-quarter net income of $45.3 million or $0.78 per share, compared to $23.1 million or $0.42 per share in the comparable quarter last year.

Excluding items, adjusted earnings for the quarter were $54.4 million or $0.91 per share, up from $31.7 million or $0.55 per share a year ago. On average, eleven analysts polled by Thomson Reuters estimated earnings of $0.53 per share. Analysts' estimates typically exclude special items.

Revenues for the latest first quarter were $406.54 million compared with $373.69 million in the prior year, while ten analysts had a consensus revenue estimate of $382.83 million for the quarter.

Looking ahead to the second quarter, the company expects net earnings of $0.29 to $0.45 per share, adjusted earnings of $0.43 to $0.59 per share and revenues of $360 million to $390 million. Analysts expect earnings of $0.49 per share on revenues of $374.53 million.