Himax 1Q Profit Drops 87 Pct, Forecasts 2Q Beat

NEW YORK (AP) — Chip maker Himax Technologies Inc. posted a sharp drop in its first-quarter profit Monday as orders declined amid the economic turmoil, but issued a better-than-expected forecast for the current quarter on rebounding demand.

The news sent its U.S.-traded shares higher in after-hours trading, gaining 31 cents, or 12 percent, to $2.90. The stock had closed up 12 cents at $2.59.

The Taiwan-based company said its net income attributable to shareholders fell 87 percent to $4.4 million, or 2 cents per American Depositary share, from $34.1 million, or 18 cents per ADS, in the same period a year earlier. ...