OIIM stock rose in after-hours trading on July 31, 2020, after the company release its quarterly financials.
O2Micro® International Limited (NASDAQ: OIIM), a global leader in the design, development and marketing of high-performance integrated circuits and solutions, reported its financial results today for the Second quarter ending June 30, 2020. O2Micro reported Q2 adjusted EPS of 3c versus the estimate of (6c). The company reported Q2 revenue of $17.3M versus the estimate of $17M.
O2Micro International Limited reported Q2 2020 revenue of $17.3 million. Revenue was up 10.9% sequentially, and up 21.1% from the same quarter in the previous year. The gross margin in the second quarter of 2020 was 51.2%, which was down from 51.9% in the prior quarter, and up from 50.1% in the second quarter of 2019. During the second quarter of 2020, the Company recorded total GAAP operating expenses of $9.5 million, compared to $8.7 million in the first quarter of 2020, and $9.7 million in the year-ago Q2 period. The GAAP operating margins for the second quarter of 2020, the first quarter of 2020, and second quarter of 2019 were (3.9%), (3.7%), and (18.1%), respectively.
“Our growth in the first half of 2020 has benefited from successful development of next-Gen products for Top Tier and OEM customers and a market focus on technologies supporting mobile and remote workforces, extended learning and in-home entertainment. Stay at home policies helped drive sales of higher end TV, monitors, power tools and electric bikes,” said Sterling Du, O2Micro’s Chairman and CEO. “We are optimistic that our business fundamentals are leading O2Micro back to long term profitability.”
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