Himax Technologies (HIMX) Tops Q3 EPS by 1c; Guides Q4 EPS Above Views

Himax Technologies (NASDAQ: HIMX) reported Q3 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $197.1 million versus the consensus estimate of $192.42 million.

GUIDANCE:

Himax Technologies sees Q4 2017 EPS of $0.13-$0.15, versus the consensus of $0.10. Revenue to Decline 4% to 10% Sequentially, Gross Margin to Decline 1% Sequentially.

“Despite the decline in the first half in our business, we delivered solid results in the third quarter, achieving both top and bottom line growth across all three major product categories. One of the highlights of our third quarter business is the joint announcement with Qualcomm to unveil our 3D sensing total solution. The announcement detailed the two companies’ collaboration in the development and commercialization of high resolution, low power active 3D depth sensing solutions for the Android smartphone ecosystem. The Qualcomm/Himax SLiM™ (Structured Light Imaging Module) solution is state-of-the-art and the only true 3D sensing total solution available for the Android market right now,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax. “The Company’s SLiM™ total solution brings together Qualcomm’s industry leading 3D algorithm with Himax’s advanced diffraction optical element (DOE) design and mass-production-proven wafer level optics for the projector and cutting-edge NIR sensors with superior quantum efficiency for the receiver. To complete the Company’s turn-key solution for the Android market, Himax has put together an A team by partnering with a few top players in their respective industry, covering laser, NIR camera lens, IR filter, semiconductor foundry and module assembly. This strong alliance will ensure that the Company’s SLiM™ 3D sensing total solution will be an accountable and competitive total solution for customers’ volume ramping. The SLiM™ total solution represents a very high barrier of entry for any potential competition and a much higher ASP and profit margin for us. We are targeting to have the SLiM™ 3D sensing total solution and production capacity ready for mass production and shipment by the end of the first quarter of 2018 with an initial capacity of 2 million units per month. The initial capacity is part of our Phase I investment of $80 million. We will ramp as needed to meet our customers’ launch timetable,” Mr. Wu further said.

For earnings history and earnings-related data on Himax Technologies (HIMX) click here.

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