Himax Pre-Announces Key Financial Results for Third Quarter 2018 Revenue, Gross Margin and EPS All Outperform Guidance
October 05 2018 - 5:30AM
Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a
leading supplier and fabless manufacturer of display drivers and
other semiconductor products, today pre-announced preliminary
unaudited key financial results for the three months ended
September 30th, 2018. The third quarter results exceeded its
revenues, gross margin and EPS guidance issued by the Company on
August 9, 2018.
- Revenues were $188.4 million, an increase of 3.9% sequentially
versus guidance of around flat from the last quarter. The revenue
increase in the quarter was attributed to greater-than-expected
production output of the new foundries for large display driver ICs
and TDDI chips which the Company introduced to address the
industry’s foundry capacity shortage issue. As anticipated, the
Company’s WLO shipment volume to its anchor customer also increased
significantly against that of Q2 2018.
- Gross Margin was 23.4% versus guidance of around 22.5%. A more
favorable product mix and stronger-than-expected engineering fees
from project engagements with both existing and new customers
enhanced the Company's gross margin.
- IFRS earnings per diluted ADS were 0.5 cents, higher than the
Company’s guidance of around -1.0 cents.
- Non-IFRS earnings per diluted ADS were 2.6 cents, higher than
the Company’s guidance of around 1.5 cents.
The company reiterates its belief that its
businesses will be out of the trough starting from the fourth
quarter. It will provide the full financial report at the next
conference call with investors and analysts in November. The exact
date 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 for AR devices,
3D sensing and machine vision, 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 2,200 people from three Taiwan-based
offices in Tainan, Hsinchu and Taipei and country offices in China,
Korea, Japan, Israel and the US. Himax has 2,997 patents granted
and 442 patents pending approval worldwide as of June 30th, 2018.
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, 2017 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
Ophelia Lin, Investor
RelationsHimax Technologies, Inc.Tel: +886-2-2370-3999
Ext.22202Fax: +886-2-2314-0877 Email:
ophelia_lin@himax.com.twwww.himax.com.tw
Sky Wang, Investor
RelationsHimax Technologies, Inc.Tel: +1-630-362-9753Fax:
+1-312-445-3643Email:
sky_wang@himax.com.tw www.himax.com.tw
Investor Relations - US RepresentativeJohn
Mattio, PresidentLamnia International Tel: +1-203-885-1058Email:
jmattio@lamniaintl.comwww.lamniaintl.com
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