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Himax Technologies, Inc. Provides Third Quarter 2012 Financial Guidance

Stocks in this article: HIMX

TAINAN, Taiwan, Aug. 9, 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 issued guidance for the third quarter ending September 30, 2012.

Based on information available to the Company as of August 9, 2012, Himax is projecting the following for the three months ending September 30, 2012:

Net Revenues: To be around flat compared to the second quarter of 2012
Gross Margin: To be slightly up from the second quarter of 2012
GAAP EPS (1): 4 cents to 6.5 cents per diluted ADS, up 900% to 1,525% as compared to same period 2011
Non GAAP EPS (2) 8 cents to 10.5 cents per diluted ADS, up 196.3% to 288.9% as compared to same period 2011

(1) GAAP earnings per diluted ADS guidance includes Himax's 2012 grant of restricted share units, or RSUs, at the end of September. 2012 RSUs, are subject to Himax's Board approval, and are assumed to be valued in the range of $11 to $12 million, of which approximately 60% will be vested and expensed immediately on the grant date.

(2) Non-GAAP EPS excludes share-based compensation and acquisition-related charges.

Mr. Jordan Wu, President and Chief Executive Officer of Himax elaborated, "As we will detail on our conference call, we have experienced robust growth in the last several quarters for our small and medium-sized driver business, particularly the smartphone. We expect our smartphone driver ICs slow down temporarily in the third quarter 2012 from the robust growth as lower-cost "pseudo smartphones" enter the Tier-2 marketplace. However, we remain bullish on the growth prospect of the smartphone segment and we expect to regain our growth momentum by continuing to focus on the tier-one customers as well as actively improving our engagement with China's second tier handset manufacturers. We also expect solid demand for several other products, including our driver ICs for large-panels in China; new product segments such as automotive, tablets and notebooks for our small and medium-sized driver ICs; and our fast-growing touch panel controllers in the non-driver product line. These product demands will produce noteworthy shipments in the second half of this year. We are also shifting the focus of our LCOS microdisplay business to a new application, head-mounted display.

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