Himax Tech beats by $0.01, beats on revs; guides Q2 EPS in-line, revs above consensus (7.02)
- Reports Q1 (Mar) loss of $0.02 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of ($0.03); revenues rose 4.9% year/year to $162.85 mln vs the $160.67 mln Capital IQ Consensus.
- Revenue from large display drivers was $59.3 million, up 1.6% sequentially and up 0.1% year-over-year. Large panel driver ICs accounted for 36.4% of Himax's total revenues for the first quarter, compared to 32.3% in the fourth quarter of 2017 and 38.2% a year ago.
- Revenue for small and medium-sized display drivers came in at $71.7 million, down 11.8% sequentially and up 7.6% year-over-year, due to seasonality and the overall weak smartphone market.
- Co issues guidance for Q2, sees EPS of 0.00-0.01, excluding non-recurring items, vs. $0.01 Capital IQ Consensus Estimate; sees Q2 revs of $177.47-185.6 vs. $176.77 mln Capital IQ Consensus Estimate.
- Himax expects a solid rebound in the second quarter overall and sequential growth across all three major product categories.