Net cash inflow from operating activities for the second quarter was $3.2 million which consists of net income before depreciation and amortization of $18.1 million offset by increase in receivables, inventory and trade and tax payables.
Share Buyback Update
With regards to the Company's $25 million dollars share buyback program, Himax has purchased a total of $12.3 million, or approximately 8.9 million ADS through June 30, 2012. Himax purchased approximately $1.14 million or 0.6 million ADS in the three months ended June 30, 2012. Himax management has stated they will continue to execute the remaining share repurchase program in accordance with Rule 10b-18.
On June 11th, Himax declared a cash dividend of 6.3 cents per ADS, totaling $10.7 million, for 2011, paid out on July 25, 2012. This pay-out is consistent with the Company's cash dividend policy based on its prior year's profitability. The Company's decision to pay out 100% of its last year's net profit signifies the board's confidence in the positive business outlook for 2012.
September 2012 Non-Deal Road Show
Ms. Jackie Chang, CFO, Ms. Penny Lin, IR Manager, and John Mattio, US-Based IR from the MZ Group, will host a number of investor meeting in the New York Metro and Boston area from September 10th to 14th. If you are interested in meeting with the Company in a 1-1 session or group session, please contact Himax's US or Taiwan based investor relations contact at the numbers below.
Himax continues to solidify its product portfolio and diversify its customers across several of its major business units. In small and medium-sized drivers, the Company has enjoyed phenomenal growth in this product category for quite some time through leading technology and strong execution. The Company remains bullish on the growth prospect for its small and medium-sized driver business long term, particularly the smartphones application which has delivered the strongest growth since the third quarter of 2011, although it is witnessing several entry-price-point smartphones enter the market. Beyond handsets, Himax has won numerous design wins in tablet, notebook and automotive display applications which will continue to produce strong shipments in the second half of this year.