Himax Q2 Profit Rises - Quick Facts

(RTTNews) - Himax Technologies, Inc. (HIMX), a supplier of semiconductor products, Thursday reported second-quarter earnings which increased, as a gain from sale of investment in a display company offset lower revenues.

For the three months to June, net earnings increased to $24.1 million or $0.140 per ADS, from $19.4 million or $0.112 per ADS a year earlier. The company recorded an investment gain of $10.7 million or 5 cents per American depository share for the 3-month period.

Excluding share-based compensation expenses and acquisition-related charges, earnings totaled $24.5 million or $0.142 per share, compared with $20.1 million or $0.117 per share a year ago.

On average, eight analysts polled by Thomson-Reuters estimated the company's earnings to be $0.14 for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues declined by 5.1 percent to $196.4 million, from $207 million last year, but slightly above the $195.33 million Wall Street expected. The decline was due mainly to an inventory correction from a Korean customer.

For the third quarter, the company expects earnings of 6.0 to 7.5 cents per ADS, and adjusted earnings of 10.2 to 11.7 cents per ADS, on net revenue growth of 12.1 to 17.1 percent.

Analysts expect third-quarter earnings of $0.10 on revenues of $210.38 million.