Himax More Than Doubles Q2 Earnings

Himax Technologies, Inc. HIMX disclosed that its earnings doubled on a YOY basis and topped the Street estimate sending the stock to trade in the green in the pre-market trading. The company reported net income of $19.8 million or 11.5 cents per ADS representing 124 percent YOY and 51.2 percent Q-o-Q growth. Its EPS not only topped its own guidance but also the Street estimate of $0.10. Himax delivered revenue of $201.1 million representing 11.5 percent sequential increase and met its high end of its earlier forecast. Analysts' predicted the company to generate $198.61 million revenue. Its President and CEO, Jordan Wu, commented, "We are very encouraged to experience the continuous growth in both our driver and non-driver business segments as we have started to benefit from new business opportunities not enjoyed by many of our competitors." The stock advanced $0.12, or 1.48 percent, to $8.25 in the pre-market trading on Thursday following the news.