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OmniVision Earnings Beat, Outlook Disappoints
Wednesday, November 30, 11:35 AM ET

OmniVision Technologies (OVTI) reported fiscal second quarter earnings late yesterday, with an outlook that may suggest smartphone makers are ordering fewer parts from the company.

The maker of smartphone camera sensors said profits fell to $21.1 million, or $0.35 per share, from $28.9 million, or $0.50 per share, in last year's second quarter.

Adjusted earnings of $0.48 per share beat analyst estimated.

Revenue fell to $217.9 million from $239.5 million in last year's second quarter, also ahead of analyst expectations.

OmniVision said it was disappointed in its second quarter results, which followed an unexpected cutback in customer orders.

For the third quarter, OmniVision said it expects revenue in a range of $160 million, to $180 million, resulting in adjusted earnings of $0.05 to $0.07 per share, short of analyst estimates.

OmniVision is said to compete with Sony (NYSE:SNE) as a provider of image and camera sensors for Apple's (NASDAQ:AAPL) iPhone and Motorola Mobility Holdings (NYSE:MMI) devices, among others, so the cutback in orders may make investors question where the cutbacks are coming from.

For MarketNewsVideo.com, I'm Sayoko Murase.

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