OmniVision Technologies, Inc. (NASDAQ: OVTI) stepped into the earnings spotlight last night, with the company reporting a fourth-quarter loss of $20.1 million, or 40 cents per share.

Excluding items, the quarterly loss would have been 30 cents per share. Revenue for the period fell 47% to $89.1 million, while gross margin contracted from 27.2% to 17%. Analysts were expecting a wider loss of 46 cents per share on slimmer revenue of $68.3 million.

Looking ahead, OVTI expects a fiscal first-quarter adjusted loss of seven cents to 16 cents per share, with revenue ranging between $90 million and $100 million. The forecast was unexpectedly upbeat; analysts surveyed by Thomson Reuters are expecting a first-quarter loss of 23 cents per share on $74 million in revenue.

Continue reading Upbeat outlook from OmniVision Technologies sparks short-squeeze rally

Upbeat outlook from OmniVision Technologies sparks short-squeeze rally originally appeared on BloggingStocks on Fri, 29 May 2009 12:30:00 EST. Please see our terms for use of feeds.

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