Ambarella, Inc. (AMBA) has reported a 43.80 percent jump in profit for the quarter ended Apr. 30, 2017. The company has earned $2.56 million, or $0.07 a share in the quarter, compared with $1.78 million, or $0.05 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $13.40 million, or $0.39 a share compared with $11.44 million or $0.34 a share, a year ago.

Revenue during the quarter grew 12.21 percent to $64.14 million from $57.16 million in the previous year period. Gross margin for the quarter contracted 35 basis points over the previous year period to 63.87 percent. Total expenses were 95.92 percent of quarterly revenues, down from 97.64 percent for the same period last year. This has led to an improvement of 172 basis points in operating margin to 4.08 percent.

Operating income for the quarter was $2.62 million, compared with $1.35 million in the previous year period.

"Q1 revenue of $64.1 million reflects our continued push to diversify our markets and customers with strong growth in the quarter coming from IP security cameras, including both professional and home monitoring markets, and continued growth in other cameras markets including wearable and automotive cameras," said Fermi Wang, president and chief executive officer of Ambarella. "While our current markets continue to expand, we believe the combination of video with computer vision technology will be the real driver of new opportunities in both our current markets as well as emerging markets such as OEM automotive and robotics. We feel our investment in the development of a family of computer vision SoCs in support of our customers' advanced video cameras will be the foundation for the future expansion of our business."

For the second-quarter 2018, Ambarella, Inc. forecasts revenue to be in the range of $69 million to $72 million.