I am long but the forecast of 300M to $330M is well below the 371M Estimate. Tomorow will not be a good day in my opinion.
Based on current trends, the Company expects revenues for the fourth quarter of fiscal 2013 will be in the range of $300 million to $330 million and GAAP net income per share will be between $0.00 and $0.15 per diluted share. Excluding the estimated expense and related tax effects associated with stock-based compensation, the Company expects its non-GAAP net income per share will be between $0.14 and $0.29 per diluted share. Refer to the table below for a reconciliation of GAAP to non-GAAP net income.
Analysts just can't figure out the seasonality and lumpiness. Before last quarter's massive beat and guide up they never would have come close to either OVTI's guidance for the just reported quarter or for next quarter in their estimates .
It sucks, that a company can have one of it best quarters ever, and due to unrealistic analyst they end up getting hit on share price for not hitting whisper numbers for unreasonable projections on earnings. This should easily be back in 30's if you look at revenues compares to what they were 2-3 years ago when they were in the 30's. Much much better now, oh well. Then the market rewards a company like Netflix who has a less loss than projected, but still a loss. Or Amazon who missed numbers but was rewarded in Market.