Friday, June 1, 2007

OmniVision Earnings Correction

A big thank you goes out to Jim Hurley in California for this correction. Regarding earnings from yesterday's conference call, the actual earnings that I posted were actually for GAAP earnings while the estimates were for non-GAAP. They actually beat earnings by a wide margin and not missed as I reported. Earnings guidance was higher by a wide margin as well.

Non-GAAP earnings stood at 0.06 per share while the consensus analyst non-GAAP earnings estimate was (0.01) per share. Therefore, OmniVision beat earnings by 0.07 a share.

Guidance by management was between 0.13 to 0.21 non-GAAP earnings per share for the following quarter ending 7/31/2007 while the consensus analyst non-GAAP earnings estimate was 0.06 per share.

Disclosure: I am long OVTI.

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