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OmniVision Technologies, Inc. Message Board

  • martinsays2001 martinsays2001 Aug 29, 2013 4:23 PM Flag

    Looks Very Good to Me...

    Revenues for the first quarter of fiscal 2014 were $373.7 million, as compared to $336.2 million in the fourth quarter of fiscal 2013, and $258.1 million in the first quarter of fiscal 2013. GAAP net income in the first quarter of fiscal 2014 was $23.1 million, or $0.42 per diluted share, as compared to net income of $8.9 million, or $0.17 per diluted share in the fourth quarter of fiscal 2013, and $2.3 million, or $0.04 per diluted share in the first quarter of fiscal 2013. For the first quarter of fiscal 2014, the Company recorded a non-cash tax benefit of approximately $8.9 million that resulted from the lapse of applicable statutes of limitations in certain foreign jurisdictions.

    Non-GAAP net income in the first quarter of fiscal 2014 was $31.7 million, or $0.55 per diluted share. Non-GAAP net income in the fourth quarter of fiscal 2013 was $17.5 million, or $0.31 per diluted share. Non-GAAP net income in the first quarter of fiscal 2013 was $11.6 million, or $0.21 per diluted share. Non-GAAP net income excludes stock-based compensation expenses and the related tax effects. Please refer to the attached schedule for a reconciliation of GAAP net income to non-GAAP net income for the three months ended July 31, 2013, July 31, 2012 and April 30, 2013.

    GAAP gross margin for the first quarter of fiscal 2014 was 17.4%, as compared to 17.5% for the fourth quarter of fiscal 2013 and 19.1% for the first quarter of fiscal 2013. The sequential decrease in first quarter gross margin reflected an increase in allowance for excess and obsolete inventories, partially offset by incremental production cost improvements.

    The Company ended the period with cash, cash equivalents and short-term investments totaling $240.5 million, an increase of $28.2 million from the previous quarter. The increase was primarily attributable to cash provided by operating activities in the first quarter of fiscal 2014.

    "For the first quarter of fiscal 2014, we are excited to report strong sequentia

    Sentiment: Strong Buy

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    • good numbers. looks like expectations were higher for revenues

    • 2013

      2012


      Revenues

      $ 373,688

      $ 258,064


      Cost of revenues

      308,527

      208,849


      Gross profit

      65,161

      49,215






      Operating expenses:




      Research, development and related

      27,702

      28,848


      Selling, general and administrative

      18,200

      18,728


      Amortization of acquired patent portfolio

      2,321

      2,321


      Total operating expenses

      48,223

      49,897






      Income (loss) from operations

      16,938

      (682)


      Equity in earnings of investee

      1,110

      1,140


      Interest expense, net

      (541)

      (758)


      Other income (expense), net

      (1,177)

      94


      Income (loss) before income taxes

      16,330

      (206)






      Benefit from income taxes

      (6,731)

      (2,533)


      Net income

      $ 23,061

      $ 2,327






      Net income per share:




      Basic

      $ 0.42

      $ 0.04


      Diluted

      $ 0.42

      $ 0.04






      Shares used in computing net income per share:




      Basic

      54,611

      52,830


      Diluted

    • Doesnt matter, stock is down and will go down for next few days

 
OVTI
27.04-0.36(-1.31%)Jan 30 3:59 PMEST

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