Himax Q2 EPS, Revenues Up, Positive About H2; Sees No Impact From CTO Retirement

Himax Technologies Inc. (HIMX), a supplier and fabless manufacturer of display drivers and other semiconductor products, reported Tuesday that its second-quarter earnings per ADS was 11.5 cents, 125.5 percent higher than last year, and exceeding the Company's guided range of 8.5 to 10.5 cents.

Revenues were $201.1 million, an increase of 18.8 percent year-over-year, while guidance was up 7.5 percent to 12.5 percent. Revenue growth was attributed to strong sales in the Company's small and medium-sized driver business. Smartphone driver ICs experienced phenomenal growth due to Chinese end brand customers gaining share from new model launches.

Gross Margin was 26.1 percent, up 230 basis points from the same quarter last year.

Looking ahead, the company remains positive in the outlook of the second half 2016. The company will provide detailed second quarter 2016 financial results in the conference call in August.

Separately, Himax said the previously announced long-planned retirement of its Chief Technology Officer, Chih-Chung Tsai, will not impact the Company's business and technology development.

The Company's organization has been that each product line is led by individual general managers and respective chief technology officers of business units and subsidiaries. All product line GMs and CTOs interact closely with the Company's Founder and Chairman, Biing-Seng Wu, who sets the Company's overall technology direction.

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