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OmniVision reports financial results

Posted: 20 Jun 2006 ?? ?Print Version ?Bookmark and Share

Keywords:financial result? OmniVision? CMOS image sensor? revenue?

OmniVision Technologies Inc., a supplier of CMOS image sensors, reported financial results for the fiscal fourth quarter and year ended April 30, 2006.

Revenue for the Q4 was $131.8 million and net income was $22.5 million. Revenue for the 2006 fiscal year was $491.9 million, compared to $388.1 million in 2005. Net income was $89.1 million, compared to $76.4 million net income of the previous year.

According to the company, it ended the period with cash, cash equivalents and short-term investments totaling $354.5 million.

"With multiple design wins in both mainstream and advanced product markets, we anticipate a return to solid sequential growth in the July quarter, throughout the second half of calendar 2006 and beyond," predicted Shaw Hong, OmniVision's president and CEO.

The unit volume of OmniVision's image sensors shipped in the quarter increased 15.8 percent sequentially to over 48 million, in part due to volume growth in VGA sensors sold to an increasing number of mobile handset customers based in emerging markets in Asia.

Based on current trends, the company expects 2007 Q1 revenue to be in the range of $135 to $145 million. To be comparable with previously reported periods, excluding the estimated expense and related tax effects associated with stock-based compensation in accordance with FAS123, OmniVision expects earnings to be in the range of 38 cents to 43 cents per share. The company will also adopt FAS123 in the July quarter, and expects GAAP earnings to be between 27 cents and 34 cents per share.




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