Zeev's Turnips Patch-No Politics (ZEEV)

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OVTI: Looks like the reaction is to the guidance and not the restatement. Infact the restatement is going to increase & not decrease the revenues & net income. You still think abandoning (especially now at sub 20) is a good idea?

OmniVision said it's "considering the restatement of financial results for certain quarters of fiscal 2004 and, possibly, fiscal 2003" following both an internal review of its reports and an independent investigation.

The company added that it currently believes the restatement could increase both revenue and net income for the nine months ended Jan. 31. It quantified the revenue increase as by a total of $5 million but did not provide a corresponding figure for the boost in net income.

Omnivision expects to meet or exceed its previously disclosed outlook for earnings of 30 to 31 cents per share on revenue of between $96 million and $100 million in fourth quarter.