Image sensor maker OmniVision Technologies forecast a current-quarter profit ahead of analysts’ estimates, encouraged by higher demand for its camera chips from smartphone makers in China.
Shares of the company soared 24 per cent at US$19.19 in after-hours trading.
OmniVision forecast an adjusted, first-quarter profit of 35-52 cents per share, well above the 28 cents analysts were expecting on average.
The company said it expected current-quarter revenue of US$355-US$390 million, above the average analyst estimate of US$347.2 million, according to Thomson Reuters I/B/E/S.
OmniVision designs analogue and digital single-chip image sensors that capture and convert images for cameras, surveillance systems, smartphones and tablets.
“In fiscal next year, we expect that OmniVision camera solutions will be featured in several major consumer device launches,” President Raymond Wu said in an analyst call.
Smartphone cameras brings in about two-thirds of the company’s revenue.
