TAINAN, Taiwan, May 20, 2024 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (NASDAQ:HIMX) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that the Company will attend Baird 2024 Global Consumer, Technology and Services Conference on June 4 – June 6, 2024 at InterContinental New York Barclay Hotel in New York. Mr. Eric Li, Chief IR/PR Officer of Himax, will conduct a fireside chat in Session VI at Barclay Salon A, Lobby Le ...

TAINAN, Taiwan, May 20, 2024 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that the Company will attend Baird 2024 Global Consumer, Technology and Services Conference on June 4 – June 6, 2024 at InterContinental New York Barclay Hotel in New York. Mr. Eric Li, Chief IR/PR Officer of Himax, will conduct a fireside chat in Session VI at Barclay Salon A, Lobby L ...

Financial Data and Key Metrics - Q1 2024 revenue was $207.6 million, a sequential decrease of 8.8%, exceeding the guidance range of a 9% to 16% decline [5] - Gross margin for Q1 was 29.3%, outperforming the guidance of around 28.5% [5] - Q1 profit per diluted ADS was 7.1 cents, surpassing the guidance range of 2.0 to 5.0 cents [5] - Q1 operating income was $10.0 million, or 4.8% of sales, compared to 7.2% of sales in the same period last year [9] - Q1 after-tax profit was $12.5 million, or 7.1 cents per diluted ADS, compared to $23.6 million last quarter [9] - Cash, cash equivalents, and other financial assets at the end of Q1 were $277.4 million, up from $206.4 million last quarter [10] - Q1 inventories were $201.9 million, down from $217.3 million last quarter, reflecting successful destocking efforts [11] Business Line Performance - Large display driver revenue decreased 7.0% sequentially to $31.3 million, with TV and monitor IC sales declining but notebook IC sales increasing double-digit QoQ [5][6] - Small and medium-sized display driver revenue declined 11.5% sequentially to $144.3 million, driven by strong automotive and OLED tablet sales [7] - Automotive business, including traditional DDIC, TDDI, Tcon, and OLED sales, contributed around 46% of total Q1 revenue [7] - Non-driver sales increased 3.4% sequentially to $32.0 million, driven by strong demand for large-sized display Tcon products [8] Market Performance - Automotive TDDI sales increased sequentially despite industry downturns, supported by a robust pipeline of design-win projects [7] - Automotive local dimming Tcon adoption is expanding rapidly, with increasing project awards from Tier-1 suppliers for new vehicle projects globally [8] - Smartphone IC sales declined sequentially but exceeded guidance, while tablet driver sales declined as expected due to seasonal demand weakness [7] Strategic Direction and Industry Competition - The company is focusing on cost optimization and supplier diversification to enhance supply flexibility and cost-effectiveness, particularly in the automotive market [17] - Himax is expanding its OLED offerings, including DDIC, Tcon, and touch controllers, in collaboration with leading panel manufacturers in Korea and China [23][25] - The company is leveraging its leadership in automotive TDDI and local dimming Tcon to capitalize on the megatrend of increasing display sophistication in vehicles [16][17] Management Commentary on Operating Environment and Future Outlook - Management expects Q2 2024 revenue to increase 8% to 13% sequentially, with gross margin projected to be between 31.5% and 33.5% [13] - The automotive sector is expected to drive growth in Q2, with high single-digit to double-digit sequential revenue increases anticipated [19][21] - The company anticipates a rebound in demand in the second half of 2024, supported by major sporting events and festival shopping seasons [14] Other Important Information - The company declared an annual cash dividend of 29.0 cents per ADS, totaling $51 million, with a payout ratio of 100% of the previous year's profit [12] - Himax is advancing its WiseEye Ultralow Power AI Sensing solution, with applications in smart home, automotive, healthcare, and other AIoT sectors [29][30] - The company unveiled its new-generation Color Sequential Front-Lit LCoS Microdisplay at Display Week 2024, targeting the AR glasses market [32][33] Q&A Session Summary Question: Why is Himax optimistic about the auto sector while other semiconductor companies are cautious? - Himax attributes its optimism to lean inventory levels and strong demand for automotive display ICs, supported by rush orders from panel customers [36][38] - The company highlights the megatrend of increasing display sophistication in vehicles, which drives higher content value per vehicle for display IC vendors [39][40] Question: What is the potential for see-through AR glasses using Himax's LCoS technology? - Himax believes its new-generation LCoS Microdisplay, with a brightness of 250,000 nits and low power consumption, is a breakthrough for AR glasses targeting the general public [44][45] - The company sees significant potential in the AR glasses market, with its LCoS solution offering better power efficiency and mass production readiness compared to micro-LED alternatives [46][47]

Q1 2024 Revenues, EPS and Gross Margin All Exceeded Guidance Range Issued on February 6, 2024Company Q2 2024 Guidance: Revenues to Increase 8% to 13% QoQ,Gross Margin is Expected to be 31.5% to 33.5%, Profit per diluted ADS to be 13.0 Cents to 17.0 Cents Q1 2024 revenues were $207.6M, a decrease of 8.8% QoQ, exceeding the guidance range of a 9% to 16% decline QoQ. Q1 GM reached 29.3%, outperforming guidance of around 28.5% Q1 2024 after-tax profit was $12.5M, or 7.1 cents per diluted ADS, surpassing the gui ...

TAINAN, Taiwan, May 09, 2024 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (NASDAQ:HIMX) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today declared a cash dividend of 29.0 cents per ADS, equivalent to 14.5 cents per ordinary share, for the year of 2023. The cash dividend will be payable on July 12, 2024 to all the shareholders of record as of June 28, 2024. The ADS book will be closed for issuance and cancellation from June 21, 2024 ...

TAINAN, Taiwan, April 08, 2024 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (NASDAQ:HIMX) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that it will hold a conference call with investors and analysts on Thursday, May 9, 2024 at 8:00 a.m. US Eastern Daylight Time and 8:00 p.m. Taiwan Time to discuss the Company's first quarter financial results. HIMAX TECHNOLOGIES FIRST QUARTER 2024 EARNINGS CONFERENCE CALLDATE: Thursd ...

TAINAN, Taiwan, April 08, 2024 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that it will hold a conference call with investors and analysts on Thursday, May 9, 2024 at 8:00 a.m. US Eastern Daylight Time and 8:00 p.m. Taiwan Time to discuss the Company's first quarter financial results. HIMAX TECHNOLOGIES FIRST QUARTER 2024 EARNINGS CONFERENCE CALLDATE: Thurs ...

TAINAN, Taiwan, April 05, 2024 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (NASDAQ:HIMX) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced its participation in the embedded world Exhibition&Conference held in Nuremberg from April 9 to 11, 2024. Himax will showcase its WiseEyeTM applications and AI capabilities at the tinyML Pavilion booth, in collaboration with several ecosystem partners, through interactive demonstratio ...

While innovators have flourished this year thanks to artificial intelligence and other advancements, it may seem difficult to find the most undervalued tech stocks to buy in April. After all, the ecosystem has garnered so much attention that many companies command rich premiums.However, the market features thousands of opportunities. And even specific sectors feature a wealth of possible ideas. It’s just not possible for Wall Street experts to cover them all. So, it’s definitely reasonable – with some diggi ...

TAINAN, Taiwan, April 03, 2024 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (NASDAQ:HIMX), an industry leader in fabless display driver ICs and other semiconductors, today announced that the Company will exhibit its industry-leading ultralow power contactless palm vein authentication technology, WiseEye Vein, at ISC West 2024, the leading trade show and conference for the security industry in the U.S., from April 10 – 12, 2024 in Las Vegas. WiseEye Vein revolutionizes next-generation access control with its ...