Ambarella Inc. (AMBA: Quote) comes on our radar after reporting better-than-expected results for the third quarter.
Founded in 2004, Ambarella develops semiconductor processing solutions for video that enable high-definition video capture, sharing, and display. The company designs fully integrated high-definition video processing, image sensor processing, audio processing, and system functions onto a single chip for delivering high video and image quality, differentiated functionality, and low power consumption.
Its solutions consumer pocket video cameras, wearable sport cameras, Internet Protocol or IP, security cameras, and ruggedized outdoor cameras, as well as broadcast encoding and IP video delivery applications. The company sells its solutions to original design manufacturers and original equipment manufacturers.
In The News...
Q3 Results Up, Tops View
- Q3 net income was $6.7 million or $0.25 per share versus $5.0 million or $0.19 per share last year.
- Q3 non-GAAP net income rose to $8.1 million or $0.31 per share from $5.9 million or $0.23 per share last year. Consensus - $0.25 per share.
- Q3 revenue was $35.67 million, up 24% from $28.78 million in the prior year quarter. Consensus - $34.33 million.
Issues Q4-FY13 Guidance
- Projects Q4 revenues to range between $28.5 and $30.0 million, up 16% - 22% over Q4 a year ago. Consensus - $28.87 million.
- Expects Q4 non-GAAP net income to be in the range of $3.0 million - $4.2 million.
- Sees Q4 GAAP net income to be between $1.2 million and $2.5 million.
Annual Financial Data
Net income for fiscal year ended January 31, 2012 was $9.82 million or $0.30 per share, compared to $13.9 million or $0.50 per share in 2011, and $13.3 million or $0.49 per share in 2010.
Revenue rose to $97.3 million in fiscal 2012, from $94.7 million in 2011, and $71.5 million in 2010.
by RTT Staff Writer
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