Himax Technologies, Inc. Pre-announces Preliminary Unaudited First Quarter 2020 Financial Results
03 April 2020 - 11:42AM
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 March
31st, 2020. The first quarter revenues met its guidance, while
gross margin and EPS both exceeded guidance issued on February
13th, 2020.
- Revenues were $184.6 million, an increase of 5.5% sequentially
versus the guidance of an increase between 1.0% to 10.0%. This
represents an increase of 13.0% year-over-year.
- Gross Margin was around 22.7%, exceeding the guidance of an
increase of 1.0% to 2.0% from the 20.6% delivered in the fourth
quarter of 2019.
- IFRS earnings per diluted ADS were expected to be around 1.9
cents, exceeding the guidance of -0.5 to 1.8 cents per diluted
ADS.
- Non-IFRS earnings per diluted ADS were expected to be around
2.2 cents, exceeding the guidance of -0.2 to 2.1 cents per diluted
ADS.
“In light of the Covid-19 pandemic and uncertain
market sentiments that are affecting the whole world, the
management decided to issue preliminary financial results
immediately following the end of the quarter. We are pleased to be
able to deliver the strong first quarter results and will continue
to work extremely closely with both our customers and suppliers in
joint efforts to mitigate the risks arising from the pandemic. We
will report further details on our next earnings call in May,” said
Jordan Wu, President and Chief Executive Officer of Himax
Technologies.
“Our thoughts and prayers are with the people
affected by the coronavirus. We have taken preventive measures to
ensure highest priority on the health and safety of our employees
and partners and will continue to evaluate the situation as it
evolves,” concluded Mr. Wu.
The Company will provide its first quarter 2020
full financial report and second quarter guidance at the next
conference call with investors and analysts in May. 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, home appliance and Internet
of Things. Founded in 2001 and headquartered in Tainan, Taiwan,
Himax currently employs around 2,000 people from three Taiwan-based
offices in Tainan, Hsinchu and Taipei and country offices in China,
Korea, Japan, Israel, and the US. Himax has 2,919 patents granted
and 581 patents pending approval worldwide as of March 31st, 2020.
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, 2019 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
Sky Wang, Investor RelationsHimax Technologies,
Inc.US Tel: +1-949-585-9838 Ext.223Fax: +1-312-445-3643Email:
sky_wang@himax.com.twwww.himax.com.tw
Investor Relations - US RepresentativeMaili
Bergman, Managing DirectorMZ North America Tel:
949-298-4320Email: HIMX@mzgroup.uswww.mzgroup.us
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