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Himax More Than Doubles Q2 Earnings

Himax Technologies, Inc. HIMX disclosed its earnings doubled on a year-over-year basis and topped the Street estimate.

The company reported net income of $19.8 million or 11.5 cents per ADS representing 124 percent year-over-year and 51.2 percent quarter-over-quarter 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.

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.

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