Jordan Wu, President and Chief Executive Officer of Himax, commented, "We believe we are bottoming out from the current trough and our global driver IC market share is in a good position to grow again next year. Our core competence in display drivers remains strong as demonstrated by the steady year-over-year revenue growth of our small and medium- sized panel drivers. Large-sized display drivers remains a business we are fully committed to. Looking ahead, China's aggressive capacity expansion plans have made it the market segment with the highest growth potential over the next few years. We are confident that we are in a strong position to capture a major driver IC market share during this time of fast expansion."Mr. Wu continued, "The third quarter non-driver sales, especially those from our LCOS product line, were lower than our expectation. Many of our LCOS customers built significant inventory during the second quarter, anticipating strong market demand over certain new product designs. However, at the end of second quarter 2010, the Chinese government took measures to crack down on the white-box handset market, which, at this stage, is a major end market for our LCOS products. Facing a high inventory level, our customers have slowed down placing new orders to us starting in the third quarter and toward the beginning of the fourth quarter. We are now seeing order flows returning towards normal levels as those overbuilt inventories are gradually being consumed."
Himax Reports Third Quarter 2010 Financial Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.