Omnivision Reports Quarterly Results, Keeps Quiet on Buyout Offer

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PRNewswire: During the last fiscal quarter ended on July 31, 2014, Omnivision shipped 249 million sensors. The non-GAAP gross margin was 22% and net income was $54M, bringing the company cash and short-term investments balance to $524M.

Revenues for the quarter were $406.5M, as compared to $331M in the previous quarter, and $373.7M a year ago. The company expects revenues in the next quarter will be in the range of $360M to $390M.

SeekingAlpha publishes the company's earnings call transcript. Few quotes:

Shaw Hong, CEO:

"The Company's Board of Directors is reviewing and evaluating HCM's proposal. No decision has been made with respect to the proposed transaction. And there are no assurance that this or any other transaction will be consummated. We are focused on our operating our [bench] (ph). We do not intend to provide update with respect to this or any other transaction except as required by applicable law. We think you in advance for your understanding."

"We are also developing a full complement of ASIC with advanced image procession functions by combining our sensors with image processing and other peripheral functions. We can offer our customers with complete imaging system solution, such as in our machine vision products. In our core smartphones, tablet and PC market cameras are enabling new application such as capturing 3D depth information using computational photography to improve image quality and developing new human interface applications. We have partnered with industry leaders to enable 3D depth sensing for both smartphones and tablets."

"We are extremely pleased with our success in China and we expect this market will continue to be a major driver of our future goals."

"We expect India to rapidly grow to become a significant geography for OmniVision over the next few years."

Ray Cisneros, SVP of Worldwide Sales and Sales Operations:

In our first fiscal quarter, we shipped 249 million units, as compared to 201 million units in our prior quarter. The increase in volume was predominately driven by increases in 5-megapixel and HD sensors. The average selling price in our first quarter was $1.63 as compared to $1.64 in our prior quarter.

"Unit sales of 3-megapixel to 5-megapixel category represented approximately 40% of total shipments as compared to 34% in the prior quarter for the same category. The significant increase in unit shipments in this category was predominately driven by larger 5-megapixel sensor shipments to the mainstream smartphone segment in Asia."

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