OmniVision Technologies Inc. (OVTI), Thursday reported third-quarter net income of $21.3 million or $0.40 per share, compared to $111 thousand breakeven per share last year
Adjusted net income improved to $31.5 million or $0.56 per share from $7.4 million or $0.13 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the third quarter grew to $423.5 million from $185.2 million last year. Analysts estimated revenues of $411.35 million for the quarter.
Looking forward to the fourth quarter, the company expects earnings in a ragne of breakeven per share to $0.15 per share, adjusted earnings of $0.14 to $0.29 per share and revenues of $300 million to $330 million. Analysts currently estimate earnings of $0.32 per share and revenues of $371.39million for the quarter.
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