|Company Name:||Ambarella, Inc.|
|Event Title:||Q2 2014 Earnings Call Transcript|
|Event Time:||05:00 PM ET|
Good day ladies and gentlemen, and thank you for standing by, and welcome to the Ambarella's Second Quarter Fiscal Year 2014 Earnings Conference Call. At this time all participants are in a listen-only mode. Later we'll conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions]. As a reminder, today's call is being recorded.
It's now my pleasure to turn the floor over to Deborah Stapleton. Ma'am the floor is yours.
Thank you so much and good afternoon, everyone. And welcome to Ambarella's second fiscal quarter financial results conference call. Thank you for joining us today. Our speakers will be Dr.
Fermi Wang, President and CEO and George Laplante, CFO. The primary purpose of today's call is to provide you with the information regarding our fiscal second quarter. The discussion today and the responses to your questions will contain forward-looking statements regarding our financial prospects our market growth and demand for our solutions among other things. These are subject to risks uncertainties and assumptions.
Should any of these risks or uncertainties materialize or should our assumptions proved to be incorrect. Our actual results could differ materially from these forward-looking statements. We are under no obligation to update these statements. These risks, uncertainties and assumptions as well as other information on potential risk factors that could affect our financial results are more fully described in the documents that we filed with the SEC including the annual report on Form 10-K that we filed on April 4th for the 2013 fiscal year and the Form 10-Q which will be filed shortly.
Access to our second quarter results press release historical results SEC filings and a replay of today's call can all be found on the Investor Relations portion of our website.
I'll now turn the call over to Dr. Fermi Wang. Fermi?
President and Chief Executive Officer
Thank you Deborah and good afternoon everyone. We are very pleased to report our Q2 revenue was $37.7 million up 35% from the $28 million we reported in the second quarter a year ago. Q2 non-GAAP net income was $7.7 million or $0.26 per diluted share this compared to a non-GAAP net income of $6.2 million or $0.23 per diluted share for the same period in fiscal 2013.
I would like to discuss some of our products and the market highlights and then I will turn it over to George for more in depth discussion of our second quarter financial performance and our guidance for Q3.
The second quarter results were supported by strong performance in our core camera market while the infrastructure market continue to reflect market softness. Our camera growth in the quarter was led by strong performance in the IP security camera market. And for the first time we estimated that IP security camera unit shipment exceeded all other individual camera categories. We continue to benefit from the migration of analog CCTV to high definition ware IP design.
As well as our range and feature rich product offerings. Successful customer penetration with -- of SoCs is fueling our current growth while introduction of H2 family of SoCs that enables -- resolution and analytics is maintaining our technology leadership position in this market. In the second quarter, we saw sales growth in our security business across all regions. But in particular, we expect significant positive momentum from our business in China this was driven both by professional high definition IP camera as well as consumer camera designed for home monitoring use.
Additionally Chinese manufacturers are increasingly providing solutions not only to domestic market but also on the ODM basis to customers in other geographies. In July region of China global leader of product. Of ability of each new network ISP camera family offering 2 million pixel and the 1.3 million pixel resolution with 30x optical view capability. This camera provide a long range of visibility either under challenging lighting conditions and are based on Ambarella's -- SoC solution.