Benzinga | Jul 30, 2021 10:51AM EDT

LCD And Battery Drive O2Micro's Q2 Earnings Beat, Margin Expansion, Robust Q3 Guidance

* O2Micro International Ltd (NASDAQ:OIIM) reported second-quarter FY21 revenue growth of 51.6% year-on-year to $26.2 million, beating the analyst consensus of $24.1 million.

* The vital business came from both LCD backlighting and battery products. The cohesive, flexible working hours between work from home and office continue to fuel the high demand for TV, Monitor, and battery-powered household appliances.

* The battery business grew strongly in all sectors, while the intelligent lighting group continued seeing the benefit of post-pandemic trends.

* The gross margin expanded 30 bps to 51.5% and posted a positive operating margin of 12.5%.

* EPS of $0.10 beat the analyst consensus of $0.09.

* O2Micro held $47.4 million in cash and equivalents.

* Outlook: The company sees Q3 revenue of $26.2 million - $27.5 million, versus the analyst consensus of $26 million.

* Price action: OIIM shares are up 2.82% at $7.30 on the last check Friday.