VIDEO: Omnivision Gaining on Second Quarter Outlook

Omnivision Technologies (NASDAQ:OVTI) stock gaining this morning after posting their first quarter results and giving their second quarter outlook. The company posted EPS of 21 cents, just missing the average analyst estimate of 22 cents. Revenue for the quarter fell to $258.1 million, beatings the street’s estimate of $243.77 million. Although the company had mixed earnings, their second quarter outlook is what investors are excited about. Omnivision sees EPS between 21 and 37 cents on revenue between $355 million to $390 million. Both earnings and revenue estimates for the second quarter are well above expectations.On this news, Omnivision is soaring in today’s trading. Its stock is up over 11% to $17.81 at market open.