OmniVision Technologies Q2 Profit Rises; Issues Q3 Outlook - Quick Facts

(RTTNews) - OmniVision Technologies, Inc. (OVTI) Tuesday reported second-quarter net income of $26.3 million, or $0.47 per share, compared to $10.3 million, or $0.19 per share in the comparable quarter last year.

Adjusted earnings for the latest second quarter was $34.9 million, or $0.60 per share, up from $18.6 million, or $0.33 per share in the prior year quarter. 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 $397.25 million from $390.14 million in the same period last year, while eleven analysts expected revenues of $392.26 million.

Looking ahead to the third quarter, the company has forecast earnings in the range of $0.14 to $0.30 per share, adjusted earnings in the range of $0.28 to $0.44 per share and revenues in a range of $310 million to $340 million. Analysts currently expect the company to earn $0.43 per share on revenues of $399.90 million for the third quarter.