Benzinga | Apr 30, 2021 09:09AM EDT

O2Micro International Shares Are Trading Lower On Borderline Q1 Earnings Miss

* O2Micro International Ltd (NASDAQ: OIIM) reported first-quarter FY21 revenue growth of 49.1% year-on-year to $23.2 million, marginally missing analyst consensus of $23.3 million.

* The GAAP gross margin contracted 30 basis points to 51.6%. GAAP operating margin of 10.2% improved from a negative margin of 3.7% in the year-ago period.

* The company reported a GAAP net income of $2.5 million after a net loss of $1.5 million in the year-ago period. GAAP EPS of $0.08 marginally miss the analyst consensus of $0.09.

* O2Micro held $47.6 million in cash and equivalents.

* Advanced rising demand for its backlighting products in monitors, televisions, notebooks, and tablets as they sustained their upward trend through Q1, Chair and CEO Sterling Du said.

* Additionally, the strong revenue from its battery group extended across all sectors as its proprietary mixed-signal designs enriched cordless devices for a wide range of uses within the home and commercial markets, Du added.

* Guidance: O2Micro expects Q2 revenue between the range of $23.2 million and $25.1 million, versus the analyst consensus of $23.57 million.

* Price action: OIIM shares traded lower by 4.36% at $7.02 in the premarket session on the last check Friday.