Seeking Alpha

OmniVision +2% AH on big FQ1 beat; guidance in-line

  • OmniVision (NASDAQ:OVTI) is guiding for FQ2 revenue of $360M-$390M and EPS of $0.43-$0.59, in-line with a consensus of $374.5M and $0.49.
  • FQ1 gross margin was 21.7%, up from 20.1% in FQ4 and 17.4% a year ago. GAAP opex +17% Y/Y to $56.3M. Cash/short-term investments rose by $73.2M Q/Q to $524.2M (compares with a market cap of $1.6B).
  • Both mobile and automotive demand fueled the FQ1 beat. OmniVision says it's "ramping up multiple members" of its high-end PureCel image sensors for mobile clients.
  • No update is given in the earnings release on OmniVision's review of a $29/share non-binding offer from a Chinese group led by Hua Capital. Shares are at $27.73 AH.
  • FQ1 results, PR
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