Himax Technologies Q2 Earnings Surge Above Estimates; Sees Q3 Earnings Better Than Consensus

(RTTNews) - Himax Technologies, Inc. (HIMX) on Thursday reported earnings of $108.89 million or $0.623 per ADS in the second quarter, significantly higher than $1.38 million or $0.008 per share in the same quarter a year ago on 95% increase in sales.

Excluding items, earnings were $0.624 per ADS, that beat the average estimate of analysts polled by Thomson Reuters at $0.46 per ADS. Analysts' estimates typically exclude special items.

Net revenues for the quarter increased 95.3% to $365.26 million from $186.98 million last year, helped by sales growth in all three major product areas, including TV, monitor and notebook. The consensus estimate was for $324.7 million.

Looking forward to the third quarter, the company sees adjusted earnings to be in the range of $0.75 per ADS to $0.81 per ADS. Analysts expect earnings of $0.43 per ADS.

Net revenue is expected to increase by 13% to 17% sequentially in the third quarter.

Himax shares are trading more than 6% up in pre-market at 14.82. The stock closed Wednesday's regular trade at $13.88, up 1.02%.