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Omnivision results beat estimates; shares rise
May 30, 2013 / 9:23 PM / in 4 years

Omnivision results beat estimates; shares rise

(Reuters) - Image sensor maker OmniVision Technologies Inc (OVTI.O) reported fourth-quarter results that beat market estimates as demand for its products grew.

Net income rose to $8.9 million, or 17 cents per share, from $2.6 million, or 5 cents per share, a year earlier.

Excluding one-time items, the company earned 31 cents per share

Revenue rose 54 percent to $336.2 million for the quarter ended April 30.

Analysts on average had expected adjusted earnings of 21 cents per share on revenue of $318.9 million, according to Thomson Reuters I/B/E/S.

OmniVision shares were up about 16 percent at $17.96 in after-market trade. They had closed at $15.49 on Thursday on the Nasdaq.

Reporting By Lehar Maan in Bangalore; Editing by Sreejiraj Eluvangal

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