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5/12/2015: Ambarella (Nasdaq: AMBA) recently released its fourth-quarter earnings report and issued guidance for the current fiscal period. The chipmaker recorded better-than-expected quarterly sales and earnings of $64.7 million in sales and earnings of $0.63 per share.
Strong performance in China and South Korea was a major component of the company's fourth-quarter revenue beat, and Ambarella anticipates that these territories will continue to be growth drivers. The company saw increased demand for its high-end products in both territories, with China in particular pushing revenue from professional IP security cameras, helping the company to avoid a traditional seasonal slowdown in the segment. Ambarella scored wins by getting its chips inside Asus' STRIX car camcorder and Xiaomi's upcoming low-cost action camera.
The company anticipates that unfolding potential in Asian territories will continue to propel sales across its segments.