Himax Technologies Q2 Profit Declines; Issues Q3 View

(RTTNews) - While reporting weak second-quarter results on Thursday, semiconductor company Himax Technologies Inc. (HIMX) provided earnings and revenue growth guidance for the third quarter.

For the third quarter, the company projects profit per ADS to be around 1.5 cents to 6.0 cents, revenues to be flat to decline 7 percent sequentially; and gross margin to be 30.5 percent to 32.0 percent.

The company said it sees renewed momentum in the automotive market, its biggest sales contributor.

In the second quarter, profit attributable to stockholders declined to $888 thousand from last year's $70.64 million.

Earnings per ADS was $0.005, compared to prior year's $0.404.

Revenues were $235.03 million, down from $312.61 million a year ago.

In pre-market activity on Nasdaq, Himax shares were trading at $6.33, down 3.36 percent.

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