Himax Technologies Says Q4 Earnings Miss Guidance - Quick Facts

(RTTNews) - Himax Technologies, Inc. (HIMX) pre-announced preliminary unaudited financial results for the fourth quarter.

The company noted that gross margin and earnings per share for the fourth quarter missed its guidance due to an additional inventory write-down. However, revenues for the quarter were in-line with its outlook.

The latest quarter's results include a non-cash inventory write-down totaling $12.0 million.

After the write-down, earnings per ADS for the fourth quarter were 2.6 cents, below the company's guided range of 8.5 to 11.0 cents. Adjusted earnings per ADS were 2.8 cents, below the company's guided range of 8.7 to 11.2 cents.

Excluding the additional inventory write-down, reported and adjusted earnings per share would have been 8.6 cents and 8.8 cents, respectively and met the company's original guidance.

Revenues for the fourth quarter were $203.4 million, a sequential decline of 6.7 percent from $218.1 million in the preceding third quarter of 2016 and in-line with the company's guidance of a 4.0 percent to 9.0 percent sequential decline.