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Himax Technologies Sees Prelim. Q4 Adj. Sales $174.9M vs $162.7M Est.

Company Revenue, Gross Margin and EPS All Exceed Guidance TAINAN, Taiwan, Jan. 07, 2020 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (NASDAQ:HIMX) (“Himax” or “Company”), a leading supplier and

Benzinga · 01/07/2020 11:32

Company Revenue, Gross Margin and EPS All Exceed Guidance

TAINAN, Taiwan, Jan. 07, 2020 (GLOBE NEWSWIRE) -- 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 December 31st, 2019. The fourth quarter results exceeded its revenues, gross margin and EPS guidance issued on November 7th, 2019. 

  • Revenues were $174.9 million, an increase of 6.5% sequentially versus the guidance of approximately flat to the previous quarter.
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  • Gross Margin was 20.6% versus the guidance of a slight increase from the third quarter’s 19.5%.
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  • IFRS earnings per diluted ADS were expected to be in the range of 0.3 to 0.6 cents, exceeding the guidance a loss of around 3.0 to 4.5 cents per diluted ADS. The better-than-expected earnings include a revaluation gain of $3.8 million, or 2.2 cents per diluted ADS, from an investment in an AI related startup made during November of 2017. The revaluation gain was not included in the November guidance.
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  • Non-IFRS earnings per diluted ADS were expected to be in the range of 0.6 to 0.9 cents, exceeding the guidance of a loss of around 2.7 to 4.2 cents per diluted ADS. Likewise, the non-IFRS earnings have included the revaluation gain.