OmniVision Technologies, Inc. (NASDAQ:OVTI) shares retreated much after releasing quarterly earnings that fell short of Wall Street expectations and forecast weak earnings for the current quarter, as inventory write-downs dented its gross margins.
Image sensor maker predicts first-quarter adjusted earnings in a range of 16 cents to 27 cents per share. Analysts currently expect 29 cents per share. The company predicts revenue between $235 million and $255 million for the first-quarter, while analysts are expecting $219.2 million.
Profit for the fiscal final quarter was $2.7 million or 5 cents per share as compared to $34 million or 56 cents a share in the same period a year earlier. Before items, profit was 20 cents per share. Revenue dropped 15 percent to $218.5 million. Analysts predicted net income of 22 cents a share, on revenue of $205.4 million.
Based on valuation measures OmniVision Technologies, Inc (NASDAQ:OVTI) total value in the stock market, calculated after recent closing bell, was $776.55 million and enterprise value which is the acquisition value of a company retrieved from yahoo data was $488.33 million. In trailing 12 months price to sales ratio, which is a ratio for valuing a stock relative to its own past performance, other companies or the market itself, was kept at 1.04.
http://www.pt-news.org/omnivision-technologies-inc-nasdaqovti-trades-down-on-several-disappointments/122918/
|