OmniVision Technologies Q3 Profit Down

(RTTNews) - OmniVision Technologies Inc. (OVTI) Thursday reported third-quarter net income of $14.0 million or $0.23 per share, down from $30.6 million or $0.54 per share last year.

Adjusted earnings for the quarter were $0.38 per share, up from $0.69 per share last year.

Revenues for the quarter dropped to $292.3 million from $352.0 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.29 per share on revenues of $292.12 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, analysts estimate adjusted earnings of $0.15 to $0.31 per share and revenues of $265 to $295 million. Analysts currently estimate earnings of $0.12 per share on revenue of $263.01 million.