Himax Technologies, Inc. Provides Third Quarter 2012 Financial Guidance
09 August 2012 - 12:00PM
Himax Technologies, Inc. (Nasdaq:HIMX) ("Himax" or "Company"), a
leading supplier and fabless manufacturer of display drivers and
other semiconductor products, today issued guidance for the
third quarter ending September 30, 2012.
Based on information available to the Company as of August 9,
2012, Himax is projecting the following for the three months ending
September 30, 2012:
Net Revenues: |
To be around flat compared to the second
quarter of 2012 |
Gross Margin: |
To be slightly up from the second quarter of
2012 |
GAAP EPS (1): |
4 cents to 6.5 cents per diluted ADS, up 900%
to 1,525% as compared to same period 2011 |
Non GAAP EPS (2): |
8 cents to 10.5 cents per diluted ADS, up
196.3% to 288.9% as compared to same period 2011 |
(1) GAAP earnings per diluted ADS guidance includes Himax's 2012
grant of restricted share units, or RSUs, at the end of September.
2012 RSUs, are subject to Himax's Board approval, and are assumed
to be valued in the range of $11 to $12 million, of which
approximately 60% will be vested and expensed immediately on the
grant date.
(2) Non-GAAP EPS excludes share-based compensation and
acquisition-related charges.
Mr. Jordan Wu, President and Chief Executive Officer of Himax
elaborated, "As we will detail on our conference call, we have
experienced robust growth in the last several quarters for our
small and medium-sized driver business, particularly the
smartphone. We expect our smartphone driver ICs slow down
temporarily in the third quarter 2012 from the robust growth as
lower-cost "pseudo smartphones" enter the Tier-2
marketplace. However, we remain bullish on the growth prospect
of the smartphone segment and we expect to regain our growth
momentum by continuing to focus on the tier-one customers as well
as actively improving our engagement with China's second tier
handset manufacturers. We also expect solid demand for several
other products, including our driver ICs for large-panels in China;
new product segments such as automotive, tablets and notebooks for
our small and medium-sized driver ICs; and our fast-growing touch
panel controllers in the non-driver product line. These product
demands will produce noteworthy shipments in the second half of
this year. We are also shifting the focus of our LCOS microdisplay
business to a new application, head-mounted display.
"This new application where we believe our technology is
superior to other competing technologies is a new and exciting
product area with a great deal of potential. We believe our diverse
customer base and product portfolio position us for balanced growth
for the long run and are further evidenced by recent design wins
with top-tier customers in many of our product lines," Mr. Wu
concluded.
About Himax Technologies, Inc.
Himax Technologies, Inc. (Nasdaq:HIMX) is a fabless
semiconductor solution provider dedicated to display imagine
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,
and many other consumer electronics devices. Additionally, Himax
designs and provides controllers for touch sensor displays, LCOS
micro-displays used in palm-size projectors and head-mount
displays, LED driver ICs, power management ICs, and chipsets for
TVs and monitors. 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 and medical devices.
Founded in 2001 and headquartered in Tainan, Taiwan, Himax
currently employs 1,400 people from three Taiwan-based offices in
Tainan, Hsinchu and Taipei and country offices in China, Korea,
Japan and the US. With more than 1,500 patents in three continents
on its technologies, Himax has retained its position as the leading
display image 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;
the uncertainty of success in our Taiwan listing plan which is
still under review by Taiwan regulatory authorities and subject to
change due to, among other things, changes in either Taiwan or U.S.
authorities' policies and Taiwan regulatory authorities' acceptance
of the Company's Taiwan listing application 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, 2011 filed with the
SEC, as may be amended.
CONTACT: Contact For the Company
Jackie Chang, CFO
Himax Technologies, Inc.
Tel: 886-2-2370-3999 Ext.22300
Fax: 886-2-2314-0877
Email: jackie_chang@himax.com.tw
www.himax.com.tw
Penny Lin, Investor Relations
Himax Technologies, Inc.
Tel: 886-2-2370-3999 Ext.22320
Fax: 886-2-2314-0877
Email: penny_lin@himax.com.tw
www.himax.com.tw
Investor Relations - US Representative
MZ North America
John Mattio, SVP
Tel: +1-212-301-7130
Email: john.mattio@mzgroup.us
www.mz-ir.com
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