Himax Technologies Earnings: Here’s Why Investors are Selling Shares Now
Himax Technologies, Inc. (NASDAQ:HIMX) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 9.10%.
Himax Technologies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 33.33% to $0.12 in the quarter versus EPS of $0.09 in the year-earlier quarter.
Revenue: Rose 9.23% to $207 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Himax Technologies, Inc. reported adjusted EPS income of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.12. It missed the average revenue estimate of $208.6 million.
Quoting Management: “We are pleased with our second quarter performance, with revenue, gross margin and EPS all met the guidance we provided,” stated Mr. Jordan Wu, President and Chief Executive Officer of Himax. “The core drivers of our business strategy remain intact. By focusing our investments in higher growth markets and higher margin products, we have been able to sustain double-digit growth in our small and medium sized driver and non-driver IC businesses while steadily improving our margins. The progress we are making in our LCOS microdisplays is another example of our technology leadership. As we execute on these and other exciting initiatives, Himax is well positioned to continue delivering substantial returns to our shareholders.”
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