2023-08-10 05:39:58 ET
- Himax Technologies press release ( NASDAQ: HIMX ): Q2 GAAP EPADS of $0.005 beats by $0.02 .
- Revenue of $235.03M (-24.8% Y/Y) misses by $6.54M .
- GM reached 21.7%, surpassing guidance range of 20.0% to 21.0%, due to a favorable product mix.
- Himax had $219.5 million of cash, cash equivalents and other financial assets as of June 30, 2023, compared to $461.6 million at the same time last year and $223.8 million a quarter ago.
- Company Q3 2023 Guidance: Revenues to be Flat to Decline 7.0% Q/Q vs. estimated growth of 27.74% Y/Y, Gross Margin is Expected to be 30.5% to 32.0%, Profit per diluted ADS to be around 1.5 cents to 6.0 cents vs. consensus of $0.03.
- GM around 30.5% to 32.0%, substantial improvement from the Q2 trough.
- Gross Margin to be 30.5% to 32.0%, depending on final product mix.
- Despite the substantial employee bonus payout, Himax still expects to generate positive operating cash flow in Q3, again, due to the ongoing destocking progress across major product lines.
For further details see:
Himax Technologies reports mixed Q2 earnings; initiates Q3 outlook