OmniVision Technologies Inc. (OVTI) reported fourth-quarter net income attributable to the company of $2.7 million or $0.05 per share, compared to $34.0 million or $0.56 per share in the prior year quarter.
On an adjusted basis, net income attributable to OmniVision for the fourth quarter declined to $10.9 million or $0.20 per share from $40.8 million or $0.66 per share in the comparable quarter last year. On average, ten analysts polled by Thomson Reuters expected earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the quarter were $218.55 million, compared with $258.27 million in the year-ago period, while ten analysts estimated revenues of $205.39 million for the quarter.
Looking forward to the first quarter, the company expects GAAP net income in a range of $0.00 per share to $0.11 per share, and adjusted earnings in a range of $0.16 to $0.27 per share. The company expects first-quarter revenues to be in the range of $235 million to $255 million.
Analysts currently expect earnings of $0.29 per share, on revenues of $219.20 million for the first quarter.
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