Himax Technologies (HIMX) Reports Q4 EPS In-Line, Miss on Revenues

Himax Technologies (NASDAQ: HIMX) reported Q4 EPS of $0.14, $0.00 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $181.1 million versus the consensus estimate of $185.13 million.

Company Increased Phase I CAPEX to Meet SLiM Shipment Demand from Android OEMs’ 3D Sensing Smartphone Launches in 1H18 and Acceleration in 2H18

• Q4 revenue declined 8.1% sequentially to $181.1M, in line with the Company’s guidance
• Product sales: large driver ICs, 32.3% of revenue, up 6.3% QoQ; small and medium-sized driver ICs, 44.9% of revenue, down 6.8% QoQ; non-driver IC products, 22.8% of revenue, down 1% QoQ excluding certain one-off customer reimbursement related to the AR goggles business in Q3 2017
• Q4 gross margin was 24.6%, decreasing 90 bps sequentially and increased 550 bps from Q4 2016
• Q4 GAAP net income was $23.5M, or 13.7 cents per diluted ADS, up from 2.1 cents per diluted ADS in Q3 2017. Non-GAAP net income was $23.8M, or 13.8 cents per diluted ADS, up from 5.2 cents per diluted ADS in Q3 2017
• FY 2017 revenues decreased 14.7% year-over-year and gross margin came in at 24.4%. FY 2017GAAP net income was 16.2 cents per diluted ADS
• Company expects significant revenue and profit growth in 2018

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

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