TAINAN, Taiwan, June 20, 2022 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fable manufacturer of display drivers and other semiconductor products, today announced updates on its second quarter 2022 financial outlook for the three months ended June 30, 2022. Revised second quarter earnings and earnings per share are lower than the forward-looking guidance provided as of May 12, 2022. Gross margin guidance remains unchanged.
Revenues are expected to fall 22% – 27% sequentially, lower than the previous forecast of 16% – 20% sequential decline.
Gross margin is expected to be around 43.0% to 45.0%, the same as previous expectations.
Non-IFRS earnings per diluted ADS are expected to be in the range of 40.0 cents to 45.0 cents, lower than the previous forecast of 45.0 cents to 50.0 cents.
IFRS earnings per diluted ADS are expected to be in the range of 36.5 cents to 41.5 cents, lower than the previous forecast of 41.5 cents to 46.5 cents.
“The revised Q2 guidance reflects a weaker macro environment and slowing market demand, due to recent rate hikes and inflationary pressures. In response, panel customers are cutting production and further tightening inventory levels. We will provide detailed updates on the upcoming earnings call,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax. The company will provide its full financial report to investors and analysts on its next conference call in August. The exact date will be announced shortly.
About Himax Technologies, Inc.
Himax Technologies, Inc. (NASDAQ: HIMX) is an unfailing semiconductor solution provider dedicated to displaying image processing technologies. Himax is a global market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, automobiles, digital cameras, car navigation, virtual reality (VR) devices and many other consumer electronics. In addition, Himax designs and supplies controllers for touch sensor displays, in-cell Touch and Display Driver Integration (TDDI) single-chip solutions, OLED ICs, LED driver ICs, power management ICs and LCoS microdisplays for augmented reality (AR)- devices and heads-up displays (HUD) for automobiles. The company also offers CMOS image sensors, wafer-level optics for AR devices, 3D sensing and ultra-low-power AI image sensing, which are used in a wide variety of applications such as mobile phones, tablets, laptops, TVs, PC cameras, automotive, security, medical equipment, home appliances, AIoT, etc. Himax, founded in 2001 and headquartered in Tainan, Taiwan, currently employs about 2,100 people from three Taiwan offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Israel, and the US. As of March 31, 2022, Himax has issued 3,009 patents worldwide and 456 patents pending. Himax has maintained its position as a leading supplier of semiconductor display processing solutions for consumer electronics brands around the world.
Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s operations; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the company; demand for end-use products; dependence on a small group of main customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; price pressures including declines in average selling prices; changes in customer order patterns; changes in the estimated effective tax rate for the full year; shortage of supply of key components; changes in environmental laws and regulations; changes to the export license regulated by the Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those identified in the section entitled “Risk Factors” in Form 20-F for the year ended December 31, 2021 filed with the SEC, as amended.