For its fiscal third quarter OmniVision posted earnings of 69 cents a share, beating analysts' estimates of 35 cents a share by 34 cents. Revenue fell 16.9% from the year ago quarter to $352 million, but still beat analyst estimates of $326.6 million.
For its fiscal fourth quarter the company expects earnings between 19 cents and 35 cents a share, compared to analyst estimates of 22 cents a share. OmniVision expects revenue between $275 million and $305 million for the quarter. Analysts estimate the company will see revenue of $284.3 million in the coming quarter.
TheStreet Ratings team rates OMNIVISION TECHNOLOGIES INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate OMNIVISION TECHNOLOGIES INC (OVTI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."