Himax (HIMX) Preliminary Q2 Numbers Come In Shy of Views

July 9, 2012 8:08 AM EDT
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Himax Technologies, Inc. (Nasdaq: HIMX), announced preliminary results for the three months ended June 30, 2012. The Company expects to report revenues of $189.5 million, a 13.7% increase sequentially, from the $166.7 million posted in the first quarter of 2012, and an 18.0% increase versus $160.6 million from the same period last year. Himax expects to meet its second quarter guidance with gross margin of approximately 23.1% and GAAP earnings per diluted ADS to be $0.089. The preliminary second quarter EPS represents a 34.7% increase quarter-over-quarter and a 342.5% increase year-over-year.

The Street sees revs of $194.2 million and EPS of $0.09.

Himax's second quarter guidance provided on May 8, 2012 had forecasted revenues to increase by 15-20% quarter over quarter, gross margin to remain flat or slightly up from 22.9% in the first quarter of 2012 and GAAP earnings per diluted ADS to be in the range of $0.08-$0.10. While smartphone applications remain one of the Company's fastest growing segments in the second quarter, some smartphone orders got pushed back to the third quarter, resulting in the Company's overall Q2 sales being slightly below its previously forecasted revenues.

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