08.03.17
Himax Technologies, Inc. its financial results for the second quarter ended June 30, 2017.
Himax recorded net revenues of $151.7 million with a gross margin of 23.8% and GAAP loss per diluted ADS was 0.4 cents in the second quarter. Revenue and GAAP loss per diluted ADS were within the company’s guidance while gross margin exceeded the guidance previously issued as of May 11.
“The second quarter revenues of $151.7 million represented a decrease of 2.2% sequentially and a decrease of 24.5% year-over-year. Despite the decline in the first half in our business, we expect a strong recovery in driver ICs segment and exciting opportunities in the non-driver segments over the remainder of 2017 and beyond. We believe our overall financial performance will be resilient,” said Jordan Wu, president and CEO of Himax.
“We have refreshed our product roadmap and delivered better product cost to our existing and newly added customers in the large display driver IC segment,” Wu added. “Moreover, sales into smartphones already rebounded in June as customers have started to replenish inventories for new product release. Last but not the least, we have delivered AMOLED product samples to some customers in the second quarter.”
For AMOLED displays, the company has joint development projects with many of the major Chinese OLED panel customers and has delivered product samples to some of them in the second quarter. With Chinese smartphone brands’ AMOLED adoption forecast to reach 18% in 2017, Chinese panel makers have committed tremendous capital to build seven to 10 brand new OLED fabs and are driving at full speed to pull forward the mass production schedule. AMOLED is set to become mainstream in the global smartphone market in the near future with penetration potentially reaching as high as 50% by 2020.
Advanced wafer-level optics (WLO) is one of the key technologies enabling 3D sensing, which is the top priority of Himax’s WLO business. Mr. Wu said, “Leveraging on our exceptional design know-how and mass production experience in WLO technology, we are able to produce the world’s most compact optics required of 3D sensing while achieving superior performance. In addition to 3D sensing, we also have ongoing collaborations with customers in developing light-guide for AR glasses and micro displays using our WLO technology.”
With regards to CMOS Image Sensor, Himax said its NIR sensor is a critical part in its structured light 3D sensing total solution. Its NIR sensors deliver superior quantum efficiency in the NIR range, especially over 940nm band which is critical for outdoor applications. On the LCOS product line, in addition to AR application, Himax said it’s making great progress in developing high-end head-up-display for automotive applications.
GAAP gross margin for the second quarter was 23.8%, up 70 basis points from 23.1% in the first quarter and down 230 basis points from 26.1% for the same period last year. The sequential increase was a result of a more favorable product mix and higher NRE.
Himax recorded net revenues of $151.7 million with a gross margin of 23.8% and GAAP loss per diluted ADS was 0.4 cents in the second quarter. Revenue and GAAP loss per diluted ADS were within the company’s guidance while gross margin exceeded the guidance previously issued as of May 11.
“The second quarter revenues of $151.7 million represented a decrease of 2.2% sequentially and a decrease of 24.5% year-over-year. Despite the decline in the first half in our business, we expect a strong recovery in driver ICs segment and exciting opportunities in the non-driver segments over the remainder of 2017 and beyond. We believe our overall financial performance will be resilient,” said Jordan Wu, president and CEO of Himax.
“We have refreshed our product roadmap and delivered better product cost to our existing and newly added customers in the large display driver IC segment,” Wu added. “Moreover, sales into smartphones already rebounded in June as customers have started to replenish inventories for new product release. Last but not the least, we have delivered AMOLED product samples to some customers in the second quarter.”
For AMOLED displays, the company has joint development projects with many of the major Chinese OLED panel customers and has delivered product samples to some of them in the second quarter. With Chinese smartphone brands’ AMOLED adoption forecast to reach 18% in 2017, Chinese panel makers have committed tremendous capital to build seven to 10 brand new OLED fabs and are driving at full speed to pull forward the mass production schedule. AMOLED is set to become mainstream in the global smartphone market in the near future with penetration potentially reaching as high as 50% by 2020.
Advanced wafer-level optics (WLO) is one of the key technologies enabling 3D sensing, which is the top priority of Himax’s WLO business. Mr. Wu said, “Leveraging on our exceptional design know-how and mass production experience in WLO technology, we are able to produce the world’s most compact optics required of 3D sensing while achieving superior performance. In addition to 3D sensing, we also have ongoing collaborations with customers in developing light-guide for AR glasses and micro displays using our WLO technology.”
With regards to CMOS Image Sensor, Himax said its NIR sensor is a critical part in its structured light 3D sensing total solution. Its NIR sensors deliver superior quantum efficiency in the NIR range, especially over 940nm band which is critical for outdoor applications. On the LCOS product line, in addition to AR application, Himax said it’s making great progress in developing high-end head-up-display for automotive applications.
GAAP gross margin for the second quarter was 23.8%, up 70 basis points from 23.1% in the first quarter and down 230 basis points from 26.1% for the same period last year. The sequential increase was a result of a more favorable product mix and higher NRE.
