• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases
      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview
      • Multimedia Gallery
      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview
      • Trending Topics
      • All Trending Topics
  • Business & Money
      • Auto & Transportation
      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview
      • Business Technology
      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview
      • Financial Services & Investing
      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview
      • General Business
      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview
  • Science & Tech
      • Consumer Technology
      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview
      • Energy & Natural Resources
      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview
      • Environ­ment
      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview
      • Heavy Industry & Manufacturing
      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview
      • Telecomm­unications
      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview
  • Lifestyle & Health
      • Consumer Products & Retail
      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview
      • Health
      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview
      • Sports
      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview
      • Travel
      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview
  • Policy & Public Interest
      • Policy & Public Interest
      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview
  • People & Culture
      • People & Culture
      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview
      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Policy & Public Interest
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • People & Culture
    • People & Culture
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

OmniVision Reports Financial Results for Fourth Quarter and Fiscal 2011

~ Company Reports Record Fiscal Year Revenues and Earnings ~

~ Fourth Quarter Revenues Grow 64.3% Year-Over-Year ~


News provided by

OmniVision Technologies, Inc.

May 26, 2011, 04:19 ET

Share this article

Share this article


SANTA CLARA, Calif., May 26, 2011  /PRNewswire/ -- OmniVision Technologies, Inc. (Nasdaq: OVTI), a leading developer of advanced digital imaging solutions, today reported financial results for the fiscal fourth quarter and fiscal year ended April 30, 2011.

Revenues for the fourth quarter of fiscal 2011 were $258.3 million, as compared to $265.7 million in the third quarter of fiscal 2011, and $157.2 million in the fourth quarter of fiscal 2010. GAAP net income attributable to OmniVision Technologies, Inc. in the fourth quarter of fiscal 2011 was $34.0 million, or $0.56 per diluted share, as compared to net income attributable to OmniVision Technologies, Inc. of $44.7 million, or $0.75 per diluted share in the third quarter of fiscal 2011, and $3.5 million, or $0.07 per diluted share in the fourth quarter of fiscal 2010.

Non-GAAP net income attributable to OmniVision Technologies, Inc. in the fourth quarter of fiscal 2011 was $40.8 million, or $0.66 per diluted share. Non-GAAP net income attributable to OmniVision Technologies, Inc. in the third quarter of fiscal 2011 was $51.0 million, or $0.84 per diluted share. Non-GAAP net income attributable to OmniVision Technologies, Inc. in the fourth quarter of fiscal 2010 was $10.0 million, or $0.18 per diluted share. Non-GAAP net income attributable to OmniVision Technologies, Inc. excludes stock-based compensation expenses and the related tax effects. Please refer to the attached schedule for a reconciliation of GAAP net income attributable to OmniVision Technologies, Inc. to non-GAAP net income attributable to OmniVision Technologies, Inc. for the three months and fiscal year ended April 30, 2011 and 2010 and for the three months ended January 31, 2011.

Revenues for the fiscal year ended April 30, 2011 were $956.5 million, as compared to $603.0 million in fiscal 2010. GAAP net income attributable to OmniVision Technologies, Inc. for fiscal 2011 was $124.5 million, or $2.11 per diluted share, as compared to GAAP net income attributable to OmniVision Technologies, Inc. for fiscal 2010 of $6.7 million, or $0.13 per diluted share.

Non-GAAP net income attributable to OmniVision Technologies, Inc. for fiscal 2011 attributable to OmniVision Technologies, Inc. was $148.4 million, or $2.49 per diluted share. Non-GAAP net income for fiscal 2010 attributable to OmniVision Technologies, Inc. was $31.3 million, or $0.59 per diluted share.

Gross margin for the fourth quarter of fiscal 2011 was 30.7%, as compared to 29.8% for the third quarter of fiscal 2011 and 24.9% for the fourth quarter of fiscal 2010. The sequential increase in fourth quarter gross margin reflected the favorable impact of an increase in the proportion of sales of premium products within each product resolution category.

The Company ended the period with cash, cash equivalents and short-term investments totaling $466.9 million, a decline of $32.0 million from the previous quarter. The decrease reflects, in part, a $58.5 million payment to Eastman Kodak Company in March 2011 for the purchase of image sensor-related patents and patent applications.

"In the fourth quarter, we met the high end of our guidance on our key financial metrics. This was another strong quarter to close a remarkable year for the Company, a year in which OmniVision revenues approached $1 billion," said Shaw Hong, chief executive officer of OmniVision Technologies, Inc.  "Underlying OmniVision's success is our ability to deliver high-performance image sensors for Tier-One customers across diverse and growing markets. We anticipate that our continued focus on innovation using our advanced OmniBSI2™ architectures will enable OmniVision to maintain its technological leadership and achieve its financial objectives."

"Further, I am pleased to announce the addition of Hasan Gadjali to the OmniVision management team," continued Hong. "Hasan has re-joined the company as Vice President of Worldwide Marketing and Business Development. In his previous role with OmniVision, Hasan led our business unit that focused on emerging markets. I expect that his knowledge of our company will be an immediate asset to OmniVision."

Outlook

Based on current trends, the Company expects fiscal first quarter 2012 revenues will be in the range of $265 million to $285 million and GAAP net income per share attributable to OmniVision Technologies, Inc. common stockholders will be between $0.55 and $0.68 per diluted share. Excluding the estimated expense and related tax effects associated with stock-based compensation, the Company expects its non-GAAP net income per share attributable to OmniVision Technologies, Inc. common stockholders will be between $0.64 and $0.77 per diluted share. Refer to the table below for a reconciliation of GAAP to non-GAAP net income.

Conference Call

OmniVision Technologies will host a conference call today at 5:00 p.m. Eastern time to discuss these results further. This conference call can be accessed via a webcast at www.ovt.com. The call can also be accessed by dialing 800-215-2410 (domestic) or 617-597-5410 (international) and entering passcode 90469368.

A replay of the call will remain available at www.ovt.com for approximately twelve months. A replay of the call will also be available for one week beginning approximately one hour after the conclusion of the call. To access the replay, dial 888-286-8010 (domestic) or 617-801-6888 (international) and enter passcode 58406642.

About OmniVision

OmniVision Technologies, Inc. is a leading developer of advanced digital imaging solutions. Its CameraChip™ and CameraCube™ products using CameraCube™, OmniBSI™, OmniBSI-2™, OmniPixel®, OmniPixel2™, OmniPixel3™ and OmniPixel3-HS™ technologies are highly integrated, single-chip CMOS image sensors for consumer and commercial applications including mobile phones, notebooks, tablets and webcams, entertainment devices, security and surveillance systems, digital still and video cameras, automotive and medical imaging systems. Additional information is available at www.ovt.com.

Safe Harbor Statement

Certain statements in this press release, including statements relating to our ability to maintain technological leadership and our financial objectives and our expectations regarding revenues and earnings per share for the three months ending July 31, 2011 are forward-looking statements. These forward-looking statements are based on management's current expectations, and certain factors could cause actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, our ability to maintain and increase sales to current key customers and end-users of our products; the impact of general economic conditions; the Company's ability to accurately forecast customer demand for its products; fluctuations of wafer manufacturing yields, manufacturing capacity and other manufacturing processes; the potential loss of one or more key customers or distributors; the continued growth and development of current markets and the emergence of new markets in which the Company sells, or may sell, its products; competition in current and emerging markets for image sensor products, including pricing pressures that could result from competition; fluctuations in sales mix and average selling prices; the Company's ability to obtain design wins from various image sensor device manufacturers including manufacturers of mobile phone, laptops and personal computers, digital still cameras and automobile manufacturers; the market acceptance of products into which the Company's products are designed; the development, production, introduction and marketing of new products and technology; the acceptance of the Company's products in such current and new markets; the Company's strategic investments and relationships, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings and reports, including, but not limited to, the Company's most recent Annual Report on Form 10-K and recent Quarterly Reports on Form 10-Q. The Company expressly disclaims any obligation to update information contained in any forward-looking statement.

Use of Non-GAAP Financial Information

To supplement the reader's overall understanding both of its reported results presented in accordance with U.S. generally accepted accounting principles ("GAAP") and its outlook, the Company also presents non-GAAP measures of net income and net income per share which are adjusted from results based on GAAP. In particular, the Company excludes stock-based compensation expense and the related tax effects. The non-GAAP financial measures which the Company discloses also exclude the effects of stock-based compensation on the number of basic and diluted common shares used in calculating non-GAAP basic and diluted net income per share. The Company provides these non-GAAP financial measures to enhance an investor's overall understanding of its current financial performance and to assess its prospects for the future. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company's operations that, when viewed with its GAAP results and the accompanying reconciliations to the corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting the Company's business. The economic basis for the Company's decision to use non-GAAP financial measures is that the adjustments to net income did not reflect the on-going relative strength of the Company's performance. The Company's objective is to minimize any confusion in the financial markets by providing non-GAAP net income and non-GAAP net income per share measurements and disclosing the related components. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP.

The Company uses non-GAAP financial measures for internal management purposes to conduct and evaluate its business, when publicly providing its business outlook and to facilitate period-to-period comparisons. The Company views non-GAAP net income per share as a primary indicator of the profitability of its underlying business. In addition, because stock-based compensation is a non-cash expense and is offset in full by a credit to paid-in capital, it has no effect on total stockholders' equity. As the calculation of non-GAAP financial measures differ between companies, the non-GAAP financial measures used by the Company may not be comparable to similarly titled measures used by other companies. Other than stock-based compensation, these differences may cause the Company's non-GAAP measures to not be directly comparable to other companies' non-GAAP measures. Although these non-GAAP financial measures adjust cost, expenses and basic and diluted share items to exclude the accounting treatment of stock-based compensation, they should not be viewed as a non-GAAP presentation reflecting the elimination of the underlying stock-based compensation programs. Thus, the Company's non-GAAP presentations are not intended to present, and should not be used, as a basis for assessing what its operating results might be if it were to eliminate its stock-based compensation programs. The Company compensates for these limitations by providing full disclosure of the net income attributable to OmniVision Technologies, Inc. and net income per share attributable to OmniVision Technologies, Inc. common stockholders on a basis prepared in accordance with GAAP to enable investors to consider net income attributable to OmniVision Technologies, Inc. and net income per share attributable to OmniVision Technologies, Inc. common stockholders determined under GAAP as well as on an adjusted basis, and perform their own analysis, as appropriate. As a result of the foregoing limitations, the Company does not use, nor does the Company intend to use, the non-GAAP financial measures when assessing the Company's performance against that of other companies.

Estimating stock-based compensation expense and the related tax effects for a future period is subject to inherent risks and uncertainties, including but not limited to the price of the Company's stock, stock market volatility, expected option life, risk-free interest rates, and the number of option exercises and sales during the quarter.

OMNIVISION TECHNOLOGIES, INC.


RECONCILIATION OF GUIDANCE FOR GAAP NET INCOME PER DILUTED SHARE

TO PROJECTED NON-GAAP NET INCOME PER DILUTED SHARE

(unaudited)



Three Months Ending July 31, 2011


GAAP
Range of Estimates


Non-GAAP
Range of Estimates


From

To

Adjustment

From

To

Net income per share attributable to OmniVision Technologies, Inc. common stockholders

$  0.55

$  0.68

$0.09 (1)

$  0.64

$  0.77

(1) Reflects estimated adjustment for expense and related tax effects associated with stock-based compensation.

OMNIVISION TECHNOLOGIES, INC.


CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

(unaudited)



April 30,


2011

2010

ASSETS



Current assets:



  Cash and cash equivalents                                                     

$  379,379

$  234,023

  Short-term investments                                                       

87,505

99,555

  Accounts receivable, net of allowances for doubtful accounts and sales returns         

142,606

74,261

  Inventories                                                                 

106,873

133,993

  Prepaid and deferred income taxes                                              

4,937

1,990

  Prepaid expenses and other current assets                                       

9,671

9,380

     Total current assets                                                       

730,971

553,202

Property, plant and equipment, net                                                  

115,446

121,547

Long-term investments                                                           

104,616

92,121

Goodwill                                                                     

1,122

439

Intangibles, net                                                                 

69,892

4,891

Other long-term assets                                                           

12,111

25,493

        Total assets                                                           

$  1,034,158

$  797,693

LIABILITIES AND EQUITY



Current liabilities:



  Accounts payable                                                           

$  102,519

$  85,487

  Accrued expenses and other current liabilities                                     

25,483

19,506

  Deferred revenues, less cost of revenues                                        

16,594

10,661

  Current portion of long-term debt                                                

4,323

4,286

     Total current liabilities                                                      

148,919

119,940

Long-term liabilities:



  Long-term income taxes payable                                                

87,526

90,626

  Non-current portion of long-term debt                                             

41,916

45,428

  Other long-term liabilities                                                       

4,472

4,727

     Total long-term liabilities                                                     

133,914

140,781

     Total liabilities                                                             

282,833

260,721




Equity:



  OmniVision Technologies, Inc. stockholders' equity:



     Common stock, $0.001 par value; 100,000 shares authorized; 70,515 shares issued and 57,974 outstanding at April 30, 2011 and 64,616 shares issued and 52,075 outstanding at April 30, 2010, respectively

71

65

     Additional paid-in capital                                                    

533,776

441,077

     Accumulated other comprehensive income                                     

1,426

870

     Treasury stock, 12,541 at April 30, 2011 and 2010, respectively                    

(178,683)

(178,683)

     Retained earnings                                                         

394,735

270,253

        Total OmniVision Technologies, Inc. stockholders' equity                       

751,325

533,582

  Noncontrolling interest                                                         

—

3,390

     Total equity                                                              

751,325

536,972

        Total liabilities and equity                                                 

$  1,034,158

$  797,693


OMNIVISION TECHNOLOGIES, INC.


CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

(unaudited)



Three Months Ended

Year Ended


April 30,

April 30,


2011

2010

2011

2010

Revenues                                     

$  258,268

$  157,152

$  956,476

$  602,991

Cost of revenues                               

178,866

117,978

678,459

457,646

  Gross profit                                 

79,402

39,174

278,017

145,345






Operating expenses:





  Research, development and related              

24,284

19,612

88,519

77,311

  Selling, general and administrative               

18,303

15,593

62,817

61,549

  Amortization of acquired patent portfolio          

774

—

774

—

     Total operating expenses                   

43,361

35,205

152,110

138,860






Income from operations                           

36,041

3,969

125,907

6,485

Interest expense, net                             

(198)

(181)

(1,150)

(774)

Other income, net                               

1,078

903

3,918

4,575

Income before income taxes                       

36,921

4,691

128,675

10,286






Provision for income taxes                        

2,962

1,267

4,225

3,883

     Net income                               

33,959

3,424

124,450

6,403

Net loss attributable to noncontrolling interest         

—

(122)

(32)

(321)

     Net income attributable to OmniVision Technologies, Inc

$  33,959

$  3,546

$  124,482

$  6,724






Net income per share attributable to OmniVision Technologies, Inc. common stockholders:





  Basic                                      

$  0.59

$  0.07

$  2.25

$  0.13

  Diluted                                     

$  0.56

$  0.07

$  2.11

$  0.13






Shares used in computing net income per share attributable to OmniVision Technologies, Inc. common stockholders:





  Basic                                      

57,674

51,711

55,324

51,080

  Diluted                                     

60,939

53,949

59,106

52,689


OMNIVISION TECHNOLOGIES, INC.


RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME

(in thousands, except per share amounts)

(unaudited)



Three Months Ended

Year Ended

Three Months Ended


April 30,

April 30,

January 31,


2011

2010

2011

2010

2011

GAAP net income attributable to OmniVision Technologies, Inc.

$  33,959

$  3,546

$  124,482

$   6,724

$  44,718

Add:






  Stock-based compensation in cost of revenues

438

520

1,965

2,710

472

  Stock-based compensation in research, development and related expenses

2,149

2,480

9,555

10,233

2,350

  Stock-based compensation in selling, general and administrative expenses

2,165

2,242

8,326

10,524

2,015

Decrease in provision for income taxes without the effect of stock-based compensation

2,075

1,246

4,074

1,094

1,435

Non-GAAP net income attributable to OmniVision Technologies, Inc.

$  40,786

$  10,034

$  148,402

$  31,285

$  50,990







GAAP provision for (benefit from) income taxes 

$  2,962

$  1,267

$  4,225

$  3,883

$  (2,608)

Decrease in provision for income taxes without the effect of stock-based compensation

2,075

1,246

4,074

1,094

1,435

Non-GAAP provision for (benefit from) income taxes

$  887

$  21

$  151

$  2,789

$  (4,043)







Non-GAAP net income per share attributable to OmniVision Technologies, Inc. common stockholders:






     Basic                             

$  0.71

$  0.19

$  2.68

$  0.61

$  0.91

     Diluted                             

$  0.66

$  0.18

$  2.49

$  0.59

$  0.84







Shares used in computing non-GAAP net income per share attributable to OmniVision Technologies, Inc. common stockholders:






     Basic                             

57,674

51,711

55,324

51,080

56,174

     Diluted                             

61,479

54,588

59,664

53,002

60,634


SOURCE OmniVision Technologies, Inc.

Modal title

    Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

    Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

    About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement

    • Asia
    • Brazil
    • Canada
    • Czech
    • Denmark
    • Finland
    • France
    • Germany
    • India
    • Israel
    • Italy
    • Mexico
    • Middle East
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Russia
    • Slovakia
    • Spain
    • Sweden
    • United Kingdom

    My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2021 Cision US Inc.