Himax Technologies (HIMX) Prelim. Q4 Results Exceed Expectations

Himax Technologies, Inc. (Nasdaq: HIMX) preannounced preliminary unaudited financial results for the three months ended December 31st, 2015. Himax's fourth quarter results exceeded its revenue, gross margin and EPS guidance issued by the Company on November 12, 2015.

• Revenues were $178.0 million, a 7.5% sequential increase versus Company guidance of flat to a 5% increase. Revenue increases in the quarter were attributed to Himax's core DDIC business. Market share gains and increased panel production in China lifted LDDIC sales significantly. SMDDIC sales were also stronger than expected due to customer additions, new product launches and inventory replenishment from existing Chinese smartphone end customers.
• Gross Margin was 22.9% versus guidance of flat to slightly up against 21.8% of Q3. More favorable product mix among SMDDIC products and higher-than-expected engineering fees from AR/VR project engagements with both current and new customers boosted the Company's gross margin, up 1.1% from the previous quarter.
• GAAP Earnings per Diluted ADS was 3.3 to 3.8 cents, above the Company’s guided EPS range of 1.0 to 3.0 cents.

*** The Street was looking for Q4 revenue of $170.6 million and EPS of $0.02.

The Company will provide its full financial report and also host a conference call with investors and analysts in February.

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