Ambarella Reports Quarterly Results

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GlobeNewswire: Ambarella reports that revenue for its fiscal quarter ended April 30, 2014 was $40.9M, up 21% from $33.9M a year ago. GAAP gross margin was 62.5%, compared with 63.9% for the same period a year ago. GAAP net income for the first quarter of fiscal 2015 was $5.3M, compared $4.7M a year ago.

"We are very pleased with the financial results of our first fiscal quarter of 2015," said Fermi Wang, president and CEO. "During the first quarter we achieved revenue of $40.9 million, up 21% from the same period last year, driven by continued growth in our IP security camera business. We believe the expanding markets for innovative, high definition professional and consumer cameras will continue to give us the opportunity to grow our revenues in the year ahead."

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