Himax Technologies (HIMX) Posts In-Line Q3 EPS; Guides Q4, FY14 EPS

Himax Technologies (NASDAQ: HIMX) reported Q3 EPS of $0.11, compared with the analyst estimate of $0.11. Revenue for the quarter came in at $222.3 million versus the consensus estimate of $224.7 million.

"We are pleased to report that our 2014 third quarter revenues, gross margin, GAAP and non-GAAP earnings per diluted ADS all met our guidance for the quarter," stated Mr. Jordan Wu, President and Chief Executive Officer of Himax. "Third quarter revenues of $222.3 million represented a 15.3% increase from the same quarter last year and a 13.2% increase from the previous quarter. The third quarter revenues were the highest since the fourth quarter of 2008. Equally important to the sales growth is the mix of revenues, which are a lot more diversified than before. The non-driver products accounted for 21.5% of our total revenues in the third quarter of 2014 versus just 5.1% in 2008. Likewise, the drivers for small and medium size panels represented 51% of the third quarter revenues, as opposed to just 16.7% in 2008. The diversification of our customer base and development of new products provide us a level of insulation not enjoyed by many of our competitors. We remain excited about our growth opportunities in all of our product segments. We also remain positive with respect to our business outlook for 2015 when we expect both revenue and earnings growth to continue."

Himax Technologies sees Q4 2014 EPS of $0.08 - $0.10, versus the consensus of $0.12. Sees net revs flat to slightly up as compared to the third quarter of 2014

Himax Technologies sees FY2014 EPS of $0.43 - $0.44, versus the consensus of $0.47.

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

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