Chipmaker OmniVision Posts 1Q Loss, Revenue Drops

OmniVision Technologies Inc., which makes image-sensing chips, said Thursday it lost $9.9 million in its first quarter, reversing a profit a year earlier as its revenue plunged 39 percent, but it offered an upbeat outlook for the current quarter.

The net loss in the three months that ended July 31 amounted to 19 cents per share. That compared with a net profit of $6.2 million, or 12 cents per share, a year earlier.

OmniVision's revenue fell 39 percent to $105.6 million, from $174.3 million a year earlier.

Excluding stock-based compensation expenses, it lost 8 cents per share.

Analysts surveyed by Thomson Reuters, who typically exclude such one-time items, expected a deeper loss of 11 cents per share and lower revenue of $99 million.

The company expects its second-quarter revenue to rebound to between $155 million and $170 million, to earn between zero and 10 cents per share.

Excluding stock-based expenses, OmniVision said it expects to earn between 10 cents and 20 cents per share.

Shares leapt $1.86, or 14 percent, to $15.16 in after-hours trading following the announcement. Shares closed unchanged at $13.30 in Thursday's regular session.

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