Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today pre-announced preliminary unaudited key financial results for the three months ended March 31st, 2021. The first quarter revenues, gross margin and EPS all exceeded the guidance issued on February 4th, 2021. Revenues, gross margin and EPS all reached new peaks in the first quarter of 2021.

• Revenues were $309.0 million, an increase of 12.1% sequentially from $275.8 million in the fourth quarter of 2020, higher than the guidance of around 5-10% sequential increase. This represents an increase of 67.4% year-over-year.
• Gross margin was 40.2%, exceeding the guidance of around 37-38%. This represents an increase of 9.0 percentage points sequentially and an increase of 17.5 percentage points compared to the same period last year.
• IFRS earnings per diluted ADS were expected to be around 38.3 cents, exceeding the guidance of 30.0 cents to 34.0 cents. This compares to 19.5 cents in the previous quarter and 1.9 cents in the same period last year. IFRS net profit reached $66.9 million during the quarter.
• Non-IFRS earnings per diluted ADS were expected to be around 38.4 cents, exceeding the guidance of 30.1 cents to 34.1 cents. This compares to 19.7 cents in the previous quarter and 2.2 cents in the same period last year. Non-IFRS net profit reached $67.1 million during the quarter.

(*Consensus sees Q1 EPS of $0.31 on revenue of $295 million)

“Revenues, gross margin and EPS all hit new records in this quarter, surpassing our prior highs in the fourth quarter of 2020, thanks to persisting demand across our major business segments. Looking into the second quarter, the demands remain robust and the global semiconductor shortage has not shown signs of receding. We expect another strong financial result for the second quarter. We will give detailed updates in the upcoming earnings call,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax. The Company will provide its full financial report with investors and analysts at the next conference call in May. The exact date will be announced soon.