OmniVision is famous for providing CMOS sensors for several iGadgets and this week announced the OV9770, a sensor that could equip iPads and iPods touch in the very distant future. The "could" was used on purpose, as it has long been speculated that Apple would switch it to Sony as a supplier for such sensors. And, according to OmniVision's financial projections, this exchange may have already taken place.
In the last quarter, OmniVision recorded revenues of $ 275 million and a profit (non-GAAP) of US $ 0.76 per share, exactly in line with market expectations. For the next quarter, the company expects revenues between $ 255 and $ 275 million, and profits (non-GAAP) of $ 0.5264 per share, well below what the market expected (revenues of $ 306 million and earnings of $ 0.82 per share). As a result, NASDAQ: OVTI dropped 25.6% (!) In post-closing negotiations.
OmniVision gave no explanation for the poor forecasts, which only increases the chances that she lost her Apple contract.