Himax Technologies, Inc. Pre-announces Preliminary Unaudited Fourth Quarter and Full Year 2022 Financial Results
12 Januar 2023 - 10:45AM
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 fourth quarter and full
year 2022 ended December 31st, 2022. The fourth quarter revenues
and EPS both exceeded the guidance issued on November 10th, 2022,
while gross margin is moderately lower than the guidance range.
Full year 2022 revenues achieved more than $1.2 billion.
Preliminary, Unaudited Fourth Quarter
2022 Financial Results
- Revenues
were $262.3 million, an increase of 22.8% from the third quarter of
2022, substantially outperforming the guidance range of around a 4%
- 8% sequential increase. This represents a decrease of 42%
year-over-year.
- IFRS and
non-IFRS gross margins were both 30.5%, compared to the guidance
range of around 31.5% to 33.5% for non-IFRS gross margin. In
comparison, the IFRS and non-IFRS gross margins were 36.0% and
36.3%, respectively in the last quarter and were both 51.8% in the
same period last year.
- IFRS
earnings per diluted ADS were 24.1 cents, exceeding the guidance of
17.8 cents to 20.8 cents. This compares to 4.8 cents in the
previous quarter and 81.5 cents in the same period last year.
- Non-IFRS
earnings per diluted ADS were 27.3 cents, exceeding the guidance of
21.0 cents to 24.0 cents. This compares to 17.0 cents in the
previous quarter and 84.9 cents in the same period last year.
Preliminary, Unaudited Full Year 2022
Financial Results
- Revenues
were $1,201.3 million, a decrease of 22.3% from $1,547.1 million in
2021.
- IFRS
Gross margin was 40.5%, down from 48.4% of last year.
- Non-IFRS
gross margin was 40.6%, down from 48.5% of last year.
- IFRS
earnings per diluted ADS were 135.6 cents, as compared to 249.8
cents in 2021.
- Non-IFRS
earnings per diluted ADS were 158.0 cents, as compared to 265.1
cents in 2021.
“Q4 sales outperformance can be attributed to
our ongoing efforts to deplete excess inventory with better
progress than expected toward the end of the fourth quarter,
especially in the small and medium size TDDI segments. However, the
inventory offloading process has adversely impacted gross margin
as, where necessary, inventory sales were priced at a discount with
goods prepared when both foundry and backend prices were higher due
to overall tight capacity at the time. Looking ahead, we expect
inventory levels to normalize within the next 2 to 3 quarters. We
will provide additional detailed updates during the upcoming
earnings call,” said Mr. Jordan Wu, President and Chief Executive
Officer of Himax. The Company will provide its full financial
report for investors and analysts at the next conference call in
February. 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, automotive, 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, AMOLED ICs, LED
driver ICs, power management ICs and LCoS micro-displays for
augmented reality (AR) devices and heads-up displays (HUD) for
automotive. The Company also offers CMOS image sensors, wafer level
optics for AR devices, 3D sensing and ultralow power WiseEyeTM
smart image sensing, which are used in a wide variety of
applications such as mobile phone, tablet, laptop, TV, PC camera,
automobile, security, medical device, home appliance, AIoT, etc.
Founded in 2001 and headquartered in Tainan, Taiwan, Himax
currently employs around 2,100 people from three Taiwan-based
offices in Tainan, Hsinchu and Taipei and country offices in China,
Korea, Japan, German, and the US. Himax has 2,932 patents granted
and 398 patents pending approval worldwide as of December 31, 2022.
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 from those described in this conference call include,
but are not limited to, the effect of the Covid-19 pandemic on the
Company’s business; 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;
shortage in supply of key components; changes in environmental laws
and regulations; changes in export license regulated by Export
Administration Regulations (EAR); 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,
2021 filed with the SEC, as may be amended.
Company Contacts:
Eric Li, Chief IR/PR
OfficerHimax Technologies, Inc.Tel: +886-6-505-0880 Fax:
+886-2-2314-0877Email:
hx_ir@himax.com.twwww.himax.com.tw
Karen Tiao, Investor
RelationsHimax Technologies, Inc.Tel: +886-2-2370-3999Fax:
+886-2-2314-0877Email: hx_ir@himax.com.twwww.himax.com.tw
Mark Schwalenberg, DirectorInvestor
Relations - US RepresentativeMZ North AmericaTel:
+1-312-261-6430Email: HIMX@mzgroup.uswww.mzgroup.us
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