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Himax Tech CEO Calls Q1 Low Point, Foresees Sales Surge in Automotive Sector

Himax Technologies, Inc (NASDAQ:HIMX) reported a fiscal first-quarter revenue decline of 15.0% year-on-year to $207.55 million, beating the analyst consensus estimate of $203.40 million. Net revenues decreased 8.8% Q/Q. Earnings per ADS was $0.07, beating the analyst consensus estimate of $0.05. The gross margin reached 29.3%, outperforming the guidance of around 28.5%. Revenue from large display drivers was $31.3 million, a decrease of 7% Q/Q due to seasonally soft macroeconomic conditions compounded by ongoing production and inventory control measures by the company’s leading panel customers.  Small and medium-sized display driver revenue was $144.3 million, a decrease of 11.5% Q/Q. Revenue for non-driver business was $32.0 million, up 3.4% Q/Q, attributable to a resurgence in orders for large-sized display Tcon products. Operating expenses for the quarter declined 0.6% ...