Himax Technologies, Inc. Preannounces Preliminary Unaudited Second Quarter 2016 Financial Results
July 05 2016 - 5:00AM
Himax Technologies, Inc. (Nasdaq:HIMX) (“Himax” or “Company”), a
leading supplier and fabless manufacturer of display drivers and
other semiconductor products, today preannounced preliminary
unaudited financial results for the three months ended June 30th,
2016. The second quarter revenues and gross margin met at high end
of its guidance while EPS exceeded the guidance issued by the
Company on May 12, 2016.
- Revenues were $201.1 million, an increase of 11.5% sequentially
versus guidance of up 7.5% to 12.5% and an increase of 18.8%
year-over-year. Revenue increases in the quarter were attributed to
strong sales in the Company’s small and medium-sized driver
business. Smartphone driver ICs experienced phenomenal growth due
to Chinese end brand customers gaining share from new model
launches.
- Gross Margin was 26.1% versus guidance of around 26%. Gross
margin decreased 10 basis points sequentially and increased 230
basis points from the same quarter last year. More favorable
product mix among SMDDIC products and higher-than-expected
engineering fees from AR/VR project engagements enhanced the
Company's gross margin.
- GAAP Earnings per Diluted ADS was 11.5 cents, exceeding the
Company’s guided range of 8.5 to 10.5 cents. GAAP diluted earnings
per ADS increased 51.3% sequentially and increased 125.5% from the
same period last year.
The Company remains positive in the outlook of
the second half 2016. Full detailed second quarter 2016 financial
results will be provided in the conference call in August. The
exact date of which will be announced soon.
About Himax Technologies,
Inc.
Himax Technologies, Inc. (NASDAQ:HIMX) is a
fabless semiconductor solution provider dedicated to display
imaging processing technologies. Himax is a worldwide market leader
in display driver ICs and timing controllers used in TVs, laptops,
monitors, mobile phones, tablets, digital cameras, car navigation,
virtual reality (VR) devices and many other consumer electronics
devices. Additionally, Himax designs and provides controllers for
touch sensor displays, in-cell Touch and Display Driver Integration
(TDDI) single-chip solutions, LED driver ICs, power management ICs,
scaler products for monitors and projectors, tailor-made video
processing IC solutions, silicon IPs and LCOS micro-displays for
augmented reality (AR) devices and heads-up displays (HUD) for
automotive. The Company also offers digital camera solutions,
including CMOS image sensors and wafer level optics which are used
in a wide variety of applications such as mobile phone, tablet,
laptop, TV, PC camera, automobile, security, medical devices and
Internet of Things. Founded in 2001 and headquartered in Tainan,
Taiwan, Himax currently employs around 1,900 people from three
Taiwan-based offices in Tainan, Hsinchu and Taipei and country
offices in China, Korea, Japan and the US. Himax has 2,878 patents
granted and 480 patents pending approval worldwide as of June 30,
2016. Himax has retained its position as the leading display
imaging processing semiconductor solution provider to consumer
electronics brands worldwide.
http://www.himax.com.tw
Forward Looking
Statements
Factors that could cause actual events or
results to differ materially include, but not limited to, general
business and economic conditions and the state of the semiconductor
industry; market acceptance and competitiveness of the driver and
non-driver products developed by the Company; demand for end-use
applications products; reliance on a small group of principal
customers; the uncertainty of continued success in technological
innovations; our ability to develop and protect our intellectual
property; pricing pressures including declines in average selling
prices; changes in customer order patterns; changes in estimated
full-year effective tax rate; shortages in supply of key
components; changes in environmental laws and regulations; exchange
rate fluctuations; regulatory approvals for further investments in
our subsidiaries; our ability to collect accounts receivable and
manage inventory and other risks described from time to time in the
Company's SEC filings, including those risks identified in the
section entitled "Risk Factors" in its Form 20-F for the year ended
December 31, 2015 filed with the SEC, as may be amended.
Company Contacts:
Jackie Chang, CFOHimax
Technologies, Inc.Tel: +886-2-2370-3999 Ext.22300 OrUS Tel:
+1-949-585-9838 Ext.252Fax: +886-2-2314-0877Email:
jackie_chang@himax.com.twwww.himax.com.tw
Penny Lin, Investor
RelationsHimax Technologies, Inc.Tel: +886-2-2370-3999
Ext.22320Fax: +886-2-2314-0877 Email:
penny_lin@himax.com.tw www.himax.com.tw
Investor Relations - US
RepresentativeLamnia International, LLC.John Mattio,
CEOTel: +1-203-885-1058Email:
jmattio@lamniaintl.comwww.lamniaintl.com
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