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Thursday, November 30, 2017

=Ambarella (AMBA) reported earnings on Thur 30 Nov 2017 (a/h)

Ambarella beats by $0.08, reports revs in-line; guides Q4 revs in line 
  • Reports Q3 (Oct) earnings of $0.75 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.67; revenues fell 11.4% year/year to $89.06 mln vs the $89.41 mln Capital IQ Consensus.
    • In the third quarter of fiscal year 2018, the company repurchased a total of 269,540 shares for total consideration of approximately $12.8 million. Under the current $50 million repurchase program that was announced in June 2017 and commenced on July 1st, the company repurchased a total of 313,959 ordinary shares for total cash consideration of approximately $15.0 million. As of October 31, 2017, there was approximately $35.0 million available for repurchases under the repurchase program through June 30, 2018.
    • Gross margin on a non-GAAP basis for the third quarter of fiscal 2018 was 64.0%, compared with 66.3% for the same period in fiscal 2017.
  • Co issues guidancefor Q4, sees Q4 revs of $68-72 mln vs. $71.09 mln Capital IQ Consensus Estimate.
    • Gross margin on a non-GAAP basis is expected to be between 62.0% and 63.5%.
    • Operating expenses on a non-GAAP basis are expected to be between $28.5 million and $30.0 million.
  • "During the quarter, we continued our solid execution in support of the development and delivery of our next generation of computer vision solutions. We met our aggressive goal of demonstrating our CV1 performance to customers and commenced sampling in the security and automotive markets," said Fermi Wang, CEO of Ambarella. "We continue to invest in leading edge technology to expand our market opportunities, both in current markets, and in a broad range of new automotive applications," he said. 

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