Update: Himax Shares Soar After Q1 Results, Q2 Guidance

MT Newswires Live05-08

Himax Technologies (HIMX) shares were up almost 30% Thursday afternoon following its Q1 results and Q2 guidance.

Earlier, the company reported Q1 earnings of $0.046 per diluted American depositary share, down from $0.114 a year earlier.

Two analysts polled by FactSet expected $0.05 for the fabless manufacturer of display drivers and other products in Taiwan.

Revenue for the quarter ended March 31 was $199.0 million, compared with $215.1 million a year earlier.

A single analyst expected $195 million in a FactSet poll.

The company said it expects Q2 earnings of $0.09 to $0.10 per diluted ADS on net revenue growth of 10% to 13% sequentially. Two analysts expect earnings of $0.06.

Price: 15.90, Change: +3.57, Percent Change: +28.95

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