Boston, MA 06/02/2014 (wallstreetpr) – OmniVision Technologies, Inc. (NASDAQ:OVTI) is upbeat during the recent trades, as the company protracted and has nearly reached its 1 year high yet again within 52 weeks, as the shares drifted and pumped up to 22.48! The company has net market capitalization of 1.26 million and with 56.08 million shares under its arsenal, the company has steadied itself at a robust P/E ratio of 14.05.
OmniVision Witnesses A Flamboyant Quarter!
The stock whooshed up, luring investors in numbers, soon after OmniVision enthralled all and sundry by reporting about an exceptionally good quarter that ended on April 30, 2014. During the quarter, OmniVision Technologies, Inc. (NASDAQ:OVTI) has seen its low-cost products enhance their overall sales; the company witnessed a whopping 70% rise in profits during the last quarter.
The company notified about notching up net incomes amounting to $15.1 million, representing EPS of $0.26/share, rising up from $0.17 year-over-year, ushered on a total income of$8.9 million during the same period. Excluding myriad stock based compensatory expenses, the EPS rose up to $0.40 from $0.31, per share.
Earnings Guidance
The company apprehended about posting far better earnings in the subsequent quarters in FY 2014. OVTI announced possible probabilities of notching up $0.43-$0.63 EPS and the revenues to escalate to a figure between $360 & $400 million during the current quarter!
Astounding Profits Rakes Up Investors’ Interests
Once the announcement on the last quarter’s earnings and anticipated revenues obtained from the current quarter, was made on the public parlance by OVTI, its shares jumped 18% during the after-hours, trading up to $23.85/share.
OVTI Branches Out To Amass Better Prospects!
Incidentally, the company has gained a fair amount of hike in the share prices owing to its prospective business endeavor of providing innumerable components to Apple Inc, for its iPhone manufacturing. However, off late, the company has gained a fair amount of lower-end Smartphone markets as it has branched out and ventured accordingly in recent quarters!
OmniVision Technologies, Inc. (NASDAQ:OVTI) has made meaningful progress on varied fronts, resulting in diversification of revenues across myriad geographies, particularly in Asia. The company has triggered mind boggling growth in other emerging security and automotive markets, as well.
CEO Sees Last Quarter As A Prelude To Better Results In 2014!
In a recent press release, CEO of OmniVision Technologies, Inc. (NASDAQ:OVTI), Shaw Hong stated that the company is working on myriad innovative, cutting-edge technological parlances with varied applications, and empowering the company’s prospects in the core and potentially emerging markets, thus enhancing its market position substantially, over a longer period of time!
