, which makes semiconductor imaging equipment, reported a second-quarter profit that topped Wall Street estimates by a penny, citing increased sales of its pixel chips and other image sensor products.
The Sunnyvale, Calif.-based company posted net income of $3 million, or 12 cents a share, reversing a year-ago loss of $3.7 million, or 17 cents a share. Excluding benefits from the sale of previously written off inventory, the company said it earned $2.2 million, or 9 cents a share. Analysts were expecting the company to earn 8 cents a share, according to a poll conducted by research firm Thomson Financial/First Call. Total revenue for the quarter rose to $21.7 million, well above analysts' consensus estimate of $18.5 million.
Looking forward, OmniVision said it expects third-quarter profits, excluding writeoffs, to come in between 9 cents and 11 cents a share on revenue of $21 million to $23 million. Analysts are projecting the company to earn 8 cents a share on revenue of $20.2 million.
Shares of OmniVision were up $1.04, or 8.5%, to $13.20 in afterhours trading on Island, an electronic trading platform. The stock is up about 220% from its 52-week low of $3.51.