This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Himax Technologies, Inc. Reports Second Quarter 2012 Financial Results

Sales increased 18.0% year-over-year to $189.5 million

Company Meets Q2 Gross Margin and EPS Guidance

  • Small and medium-sized panel driver sales increased 34.7% year-over-year to US$83.8 million , achieving record-high quarterly revenues
  • Gross margin increased 450 basis points to 23.1% from 18.6% in 2Q11 and increased 20 basis points from 22.9% in 1Q12 , highest since 4Q08
  • GAAP net income increased 316.8% to US $15.1 million from US $3.6 million in 2Q11 and increased 33. 5 % from US $11.3 million in 1Q12 . GAAP diluted earnings per ADS increased 342.5% to US$0.089 from US$0.02 in 2Q11 and increased 34.7% from US$0.066 in 1Q12

TAINAN, Taiwan, Aug. 8, 2012 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (Nasdaq:HIMX) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced financial results for the second quarter ended June 30, 2012.

SUMMARY FINANCIALS

Second quarter 2012 Results Compared to Second quarter 2011 Results (USD) (unaudited)
 
  Q2 2012 Q2 2011 CHANGE  
Net Revenues $189.5 million $160.6 million +18.0%  
Gross Profit $43.7 million $29.9 million +46.2%  
Gross Margin 23.1% 18.6% +4.5%  
GAAP Net Income Attributable to Shareholders $15.1 million $3.6 million +316.8%  
Non-GAAP Net Income Attributable to Shareholders $15.9 million (1) $5.0 million (2) +216.8%  
GAAP EPS (Per Diluted ADS) $0.089 $0.020 +342.5%  
Non-GAAP EPS (Per Diluted ADS) $0.093 (1) $0.028 (2) +232.1%  
 
(1) Non-GAAP Net income attributable to common shareholders and EPS excludes $0.4 million of share-based compensation expenses, net of tax and $0.4 million non-cash acquisition related charges, net of tax.
(2) Non-GAAP Net income attributable to common shareholders and EPS excludes $1.0 million of share-based compensation expenses, net of tax and $0.4 million non-cash acquisition related charge, net of tax.
 
Second quarter 2012 Results Compared to First Quarter 2012 Results (USD) (unaudited)
 
  Q2 2012 Q 1 2012 CHANGE
Net Revenues $189.5 million $166.7 million +13.7%
Gross Profit $43.7 million $38.1 million +14.7%
Gross Margin 23.1% 22.9% +0.2%
GAAP Net Income Attributable to Shareholders $15.1 million $11.3 million +33.5%
Non-GAAP Net Income Attributable to Shareholders $15.9 million (1) $12.1 million ( 2 ) +31.1%
GAAP EPS (Per Diluted ADS) $0.089 $0.066 +34.7%
Non-GAAP EPS (Per Diluted ADS) $0.093 (1) $0.071 ( 2 ) +31.0%
   
(1) Non-GAAP Net income attributable to common shareholders and EPS excludes $0.4 million of share-based compensation expenses , net of tax and $0. 4 million non-cash acquisition related charges , net of tax .  
(2) Non-GAAP Net income attributable to common shareholders and EPS excludes $0. 4 million of share-based compensation expenses , net of tax and $0. 4 million non-cash acquisition related charges , net of tax .  

"We are pleased with our second quarter performance where we achieved both top and bottom line growth. This signifies the success we have achieved for more balanced sales from various product lines and a more diversified customer base. In addition, we delivered strong growth in our higher margin products and kept our operating expenses under control. All of these factors resulted in substantial improvements in our bottom line profitability. We are confident that Himax is heading in the right direction to achieve additional improvements for the balance of 2012 and beyond," explained Mr. Jordan Wu, President and Chief Executive Officer of Himax.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs