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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • OmniVision Revenues Increase 0 comments
    Dec 4, 2013 11:26 AM | about stocks: OVTI

    Originally published at www.seclive.com

    Filing in Focus: OmniVision 8-K, December 3, 2013

    OmniVision Technologies, Inc. (OVTI) announced its financial results for the second fiscal quarter 2014, reporting increases in revenue. The digital imaging solutions company posted revenues of $397.2M, an increase from the year-ago $373.7M and the previous quarter's $390.1M. Profits were up similarly from $10.3M and $0.19 earnings per share to $26.3M and $0.47 per share. OmniVision's gross margin improved from 16.6% to 18.8%, a reflection of improved production costs, reduced inventory excess, and a revenue increase from its previously written-down inventory. CEO Shaw Hong commented that despite a slowing smartphone market and increased competition, the company performed well through increases in revenue while leaning ahead with new product releases that will lend to future growth.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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