Earnings After the Bell: Marvell, OmniVision Friday, May 27, 12:36 PM ET
Marvell Technology Group (NASDAQ:
MRVL) posted a 29% decline in fiscal first quarter earnings, to $146.9 million, or $0.22 per share, from $205.8 million, or $0.30 per share, last year.
The cell phone semiconductor maker said revenue fell 6%, to $802 million.
Adjusted earnings of $0.29 per share missed analyst expectations, and revenue fell short as well.
But Marvellís forecast for adjusted earnings of $0.37 per share in the second quarter on revenue of $870 to $890 million exceeded analyst forecasts.
Also late yesterday, OmniVision Technologies (
OVTI) posted a jump in fourth quarter earnings, to $34 million, or $0.56 per share, from $3.5 million, or $0.07 per share, last year.
The maker of sensors for smartphone cameras said revenue rose to $258.3 million from $157.2 million in last yearís fourth quarter.
Revenue was just ahead of analyst expectations, as were adjusted earnings of $0.66 per share.
OmniVision said it expects first quarter adjusted earnings of $0.64 to $0.77 per share, on revenue of $265 million to $285 million, below analyst forecasts at the low end.
For MarketNewsVideo.com, Iím Kristin Bianco.
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Earnings After the Bell: Marvell, OmniVision
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