Himax Technologies Inc (NASDAQ:HIMX)

Jordan Wu, President and Chief Executive Officer of Himax, commented, "Demand for our display drivers rebounded strongly in the second quarter.

Mr. Wu added, "Looking forward, the shortage of glass substrate for TFT-LCD panels is expected to continue in the third quarter of 2009, which is a factor of uncertainty for our third quarter guidance. In addition, the capacity tightness for certain of our semiconductor subcontractors, particularly the backend packaging and testing houses, would increase our costs of revenues and may negatively impact our gross margin.

For the third quarter, we expect revenues to grow by double-digit percentage points sequentially.

^a The above forecasts reflect the Company's current and preliminary
Source: See views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

^b Non-GAAP EPS figures generally exclude certain non-operating gains and losses as well as certain non-cash items. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information . For a more complete explanation of the company's definition of non-GAAP please refer to its financial press releases. The GeoTeam® non-GAAP figures may, from time to time, differ from company supplied figures.

"To comply with Taiwan listing requirements and to ensure sufficient float on the Taiwan Stock Exchange, the Board has proposed some necessary revisions to our Memorandum and Articles of Associations and a recapitalization plan to effect a change in the par value of our ordinary shares from $0.0001 per share to $0.30, or approximately NT$10, per share, and an increase in the number of ordinary shares outstanding to double the current amount.

Source: GlobeNewswire (August 5, 2009)

Mr. Wu continued, "While the global financial crisis has had a profound impact on the TFT-LCD industry, we believe that it is a great opportunity for us to capitalize on our strategy and grow our business. Customers around the world are paying attention to suppliers' financial soundness, looking for industry's leaders who have sufficient resources to fund R&Ds, product developments, and customer services on a sustainable basis. Even amid the global economic downturn, our financial position has grown stronger over the past quarter. With no debts, our cash, cash equivalents and marketable securities available for sale were $204.6 million on March 31, 2009, a $55.5 million increase from the previous quarter. Backed by our strong balance sheet, we remain confident in the long-term growth prospects of our business and remain committed to adding value to our shareholders."

Mr. Wu added, "We are seeing a strong, across the board rebound in the demand for our display drivers, as customers' capacity utilizations have been substantially improved. We expect rush orders to continue throughout the second quarter."

^a The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

^b These interim financials do not fully comply with US GAAP because they omit all interim disclosure required by US GAAP).

Guidance Report:

Himax Technologies, Inc. announced that fourth-quarter results will be lower than the company's previous guidance given on November 4, 2008, as customers reduce orders amid the slowing worldwide economy.

Fourth Quarter 2008 Guidance Ending December

Implied Full Year 2008 Guidance Ending December

With no debts, our balance sheet remains strong and we are confident that we will continue to generate positive operating cash flow in the fourth quarter. Though the short-term visibility is quite limited, we remain focused on investing in R&D and improving our operating efficiency. We will continue to execute the $50 million share buy-back program announced on November 14, 2008."

Source: GlobeNewswire (December 5, 2008)