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More on OmniVision: FQ3 guidance is for revenue of $390M-$425M and EPS of $0.33-$0.46, mostly...

More on OmniVision: FQ3 guidance is for revenue of $390M-$425M and EPS of $0.33-$0.46, mostly above a consensus of $365.2M and $0.35. FQ2 gross margin fell 250 bps Q/Q and 1400 bps Y/Y to 16.6%, almost certainly due to surging Apple orders. Judging by guidance, margin pressure will continue in FQ3. OmniVision says co-founder Raymond Wu is re-joining the company as president. Wu was in charge of sales and marketing before resigning in '06. OVTI now -3.1% AH. CC at 5PM ET (webcast). (PR)

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