Shares of image processing chip maker Ambarella (AMBA) are higher by $1.03, or almost 9%, at $13 in late trading after the company this afternoon reported fiscal Q4 revenue and earnings per share that topped analysts’ expectations.
Revenue in the three months ended in January rose 28%, year over year, to $31.5 million, yielding EPS of 18 cents.
Analysts had been modeling $29 million and 13 cents per share.
The company’s gross margin, on an adjusted, non-GAAP basis, was 66.7%, the same as in the prior-year quarter.
CEO Fermi Wang said the company was “very pleased” with the results, and attributed the quarter’s performance to “significant year-over-year growth in our automotive and sports camera markets,” and cited the “IP security camera market” in particular.
“As this security market continues to grow rapidly, driven by the migration from analog standard definition cameras to digital, IP-based high definition cameras,” added Wang, “we believe our products offer advanced technology and leading features that allow our customers to deliver winning solutions to the market.”
Ambarella will host a conference call with analysts to discuss the results at 5 pm, Eastern time, and you can catch the webcast of the event here.
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