AMBA Flying in After Hours

They beat earnings - revenue expectations $57.1M and EPS expectations $0.28 (non-GAAP).

Actual results $57.2M, EPS $0.34 non-GAAP.

On the call Fermi just said they are not seeing a change in the competitive landscape. What ever happened to the Qualcomm threat?

The greatest short term concern is damage to SONY’s factory in Japan from the earthquake - the factory makes image sensors which is part of the camera supply chain. This indirectly effects AMBA for the next few quarters.

With 10 M shares short out of a float of 29.5 M shares we may see a short squeeze take place.

Also the company approved a $75M share buyback - approximately 5% of the shares. Cash is up $323M vs $235M a year ago.…

Anyone know why stock based comp has almost doubled this quarter vs. the year ago quarter? Have they added a lot of employees?

This quarter $11.3M vs. last year $5.482M

Frank - long AMBA, see profile for all holdings