- Himax (HIMX) expects Q2 revenue to be flat with a Q1 level of $194.6M; that's below a consensus of $223.2M. EPS guidance of $0.132-$0.152 is above a $0.13 consensus, but only due to a $0.05 gain stemming from the sale of a stake in a U.S. display company.
- Q2 sales of small/mid-sized-panel driver ICs are expected to be pressured by an inventory correction at a Korean smartphone OEM (most likely Samsung) - investors seem to have already priced this issue in. But small/mid-sized demand from Chinese smartphone vendors and the tablet/automotive markets is expected to be healthier.
- Healthy TV market sales are expected to offset weak notebook/monitor sales in the large-panel driver IC market. CMOS image sensor sales are expected to double in 2014, and touch controller sales to triple Q/Q in Q2. Himax says it's still working with multiple LCOS microdisplay customers, including "top-notch clients."
- Q1 gross margin was 24.7%, -40 bps Q/Q and +10 bps Y/Y. Q2 GM is expected to be flat to slightly down Q/Q. Driver price competition in the Chinese smartphone market and strong sales of CMOS sensors have been pressuring margins a bit.
- Small/mid-sized panel driver sales (56.9% of revenue) rose 21.5% Y/Y, down from 32.3% in Q4. Large-sized panel driver sales (25% of revenue) fell 19.2%, an improvement from Q4's 39.7% drop. All other sales (18.1% of revenue) rose 44.5%, a pickup from Q4's 28.1%.
- Q1 results, PR
at Nasdaq.com (Mon, 11:47AM)