OmniVision Technologies Inc. (OVTI) reported a decline in second-quarter profit to $10.3 million or $0.19 per share from $21.0 million or $0.35 per share in the same period prior year.
On an adjusted basis, net income attributable to OmniVision for the second quarter declined to $18.6 million or $0.33 per share from $30.1 million or $0.48 per share in the comparable quarter last year. On average, eleven analysts polled by Thomson Reuters expected earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the quarter were $390.1 million, compared with $217.92 million in the year-ago period, while ten analysts estimated revenues of $374.98 million for the quarter.
Looking forward, the company expects third-quarter GAAP earnings in a range of $0.17 per share to $0.30 per share, and adjusted earnings in a range of $0.33 per share to $0.46 per share. The company expects third-quarter revenues to be in the range of $390 million and $425 million.
Analysts currently expect earnings of $0.35 per share, on revenues of $365.24 million for the third quarter.
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