- Himax Technologies Inc (NASDAQ:HIMX) reported second-quarter FY21 revenue growth of 95.3% year-on-year to $365.3 million, beating the analyst consensus of $324.7 million.
- Revenue from large display drivers rose 43.7% Y/Y to $85.4 million.
- Monitor and notebook IC revenues growth were driven by continuous remote working and education demands.
- Small and medium-sized display drivers saw continued strong momentum with revenue of $230.6 million, up 133.4% Y/Y.
- The automotive segment delivered the highest growth of over 22% Q/Q among the three segments in the small and medium-sized driver IC business. TDDI for tablets was up over 30% Q/Q, while smartphone TDDI posted low single-digit Q/Q growth.
- Smartphone sales rose over 200% Y/Y, reaching $83.9 million in revenue. Tablet revenue doubled Y/Y reaching $85.3 million in revenue due to remote working and online learning.
- Driver IC revenue for automotive more than doubled to $53.3 million. Revenue from its non-driver businesses rose over 70% Y/Y to $49.3 million. Tcon business grew 130% Y/Y.
- The gross margin expanded 730 bps to 47.5%, and the adjusted operating margin expanded 3,570 bps to 36.8%.
- Non-IFRS earnings per ADS of $0.624 beat the analyst consensus of $0.46.
- Himax held $270.4 million in cash and equivalents and generated $85.2 million in operating cash flow in Q2.
- Outlook: Himax sees Q3 revenue of $412.7 million - $427.4 million, higher than the analyst consensus of $325.3 million.
- It sees non-IFRS EPS of $0.75-$0.81, above the analyst consensus of $0.43.
- Price action: HIMX shares traded higher by 6.99% at $14.85 in the premarket session on the last check Thursday.
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