OmniVision Q1 Profit Rises - Quick Facts

(RTTNews) - OmniVision Technologies, Inc. (OVTI) Thursday reported first-quarter profit of $23.1 million or $0.42 per share, up from $2.3 million or $0.04 per share in the comparable quarter last year.

Adjusted earnings for the quarter was $31.7 million or $0.55 per share. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $373.7 million from $258.1 million in the same period last year. Analysts expected revenues of $376.58 million.

Looking ahead to the second quarter, the company has forecast earnings in the range of $0.21 and $0.38 per share, with adjusted earnings ranging between $0.36 and $0.53 per share.

Revenues are projected in a range of $375 million to $410 million. Analysts currently expect the company to earn $0.49 per share on second-quarter revenues of $406.60 million.