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