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Read How Himax Technologies Fared In Q1

By Anusuya Lahiri
  • Himax Technologies, Inc (NASDAQ:HIMXreported first-quarter FY22 revenue growth of 33.6% year-on-year to $412.8 million. Net revenues declined 8.6% sequentially.
  • Revenue from large display drivers grew 60% Y/Y to $110.6 million.
  • Monitor and notebook IC sales decreased sequentially on the backdrop of slowing end market sell-through.
  • TV revenue was flat sequentially, anchored by high-end and large-sized TV IC shipments to key accounts.
  • Small and medium-sized display drivers' revenue was $258.5 million, up over 25% Y/Y.
  • The automotive segment delivered sales growth of over 170% Y/Y.
  • Driver IC revenue for smartphones declined sequentially due to sluggish demand, China lockdown, and geopolitical tensions. Tablet revenue was up low teens Y/Y.
  • The revenue from its non-driver businesses was $43.7 million, up 25% Y/Y, driven by higher shipment of its ultralow power AI image sensing total solution to the notebook market. 
  • Tcon's business increased by 50% Y/Y, reflecting a better mix towards higher-end product areas such as 4K/8K TV, gaming monitors, low power notebooks, and automotive Tcon.
  • The non-IFRS gross margin expanded by 680 bps to 47%, and the non-IFRS operating margin expanded by 880 bps to 36.3%. Non-IFRS earnings per ADS were $0.697.
  • Himax held $447.1 million in cash and equivalents and generated $72 million in operating cash flow.
  • CEO Jordan Wu said, "Historically, our first-quarter sales are seasonally the low point of year due to the Lunar New Year holidays. This year, starting from end of February, additional factors also weighed in, mainly new lockdowns in China to contain the spread of the Omicron variant and geographical conflict erupting in Ukraine, both causing major disruptions to our supply chain."
  • Dividend: Himax declared an annual cash dividend of $1.25 per ADS.
  • Outlook: Himax sees Q2 revenue to decrease 16% - 20% Q/Q. It expects non-IFRS earnings per ADS of $0.45 - $0.50.
  • Price Action: HIMX shares traded higher by 1.88% at $8.11 on the last check Thursday.
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Dive Deeper:
Read How Workhorse Group Fared In Q1
Workhorse Group Inc (NASDAQ:WKHS) reported a first-quarter FY22 sales decline of 97.3% year-on-year, to $14.3 thousand, beating the consensus of $10 thousand. The…
Why Fiverr Shares Are Trading Lower Today
Fiverr International Ltd (NYSE:FVRR) reported first-quarter FY22 revenue growth of 27% year-on-year to $86.7 million, beating the consensus of $86.5 million. Active buyers…
Cerence Reports Mixed Q2 Results; Margins Shrink Due To Automotive Headwinds
Cerence Inc (NASDAQ:CRNC) reported a second-quarter FY22 revenue decline of 12.5% year-on-year to $86.3 million, above the consensus of $84.6 million. Non-GAAP EPS…
Why Neo Performance Materials Shares Are Surging Today
Neo Performance Materials Inc (TSX:NEO) (OTC:NOPMF) reported first-quarter revenue growth of 27.1% year-over-year to $166.28 million. Adjusted EPS improved to $0.56 from…
One subscription that gives you access to news from hundreds of sites
How Did Vizio Fare In Q1
VIZIO Holding Corp (NYSE: VZIO) shares are trading higher in Thursday's after-hours session after 
Why IGT Shares Are Surging Today
International Game Technology (NYSE:IGT) reported first-quarter FY22 revenue growth of 4% year-on-year to $1.05 billion, above the consensus of $1.04 billion. Revenue from…
Get all your news in one place