This revised outlook reflects an unexpected cutback in orders for certain key projects that are currently in production. This has reduced the unit sales of OmniBSI and OmniPixel3-HS based products. The company expects the business environment to remain volatile, especially in consumer-oriented product markets.
As such, the company is expecting a more cautionary outlook for its third fiscal quarter. Separately, towards the end of the second fiscal quarter, the company started to ship in very limited quantities the OV8830, the co's 8-megapixel OmniBSI-2 based product.
The company will continue to promote this product to key customers, and successful engagement in new projects may in the longer term provide growth opportunities. Stock buy-back OmniVision today announced that its Board of Directors authorized a program to repurchase up to $100 mln of the company's outstanding common stock, effective immediately.






