TAINAN,
Preliminary, Unaudited Fourth Quarter 2022 Financial Results
- Revenues were
$262.3 million , an increase of 22.8% from the third quarter of 2022, substantially outperforming the guidance range of around a 4% - 8% sequential increase. This represents a decrease of 42% year-over-year. - IFRS and non-IFRS gross margins were both 30.5%, compared to the guidance range of around 31.5% to 33.5% for non-IFRS gross margin. In comparison, the IFRS and non-IFRS gross margins were 36.0% and 36.3%, respectively in the last quarter and were both 51.8% in the same period last year.
- IFRS earnings per diluted ADS were
24.1 cents , exceeding the guidance of17.8 cents to20.8 cents . This compares to4.8 cents in the previous quarter and81.5 cents in the same period last year. - Non-IFRS earnings per diluted ADS were
27.3 cents , exceeding the guidance of21.0 cents to24.0 cents . This compares to17.0 cents in the previous quarter and84.9 cents in the same period last year.
Preliminary, Unaudited Full Year 2022 Financial Results
- Revenues were
$1,201.3 million , a decrease of 22.3% from$1,547.1 million in 2021. - IFRS Gross margin was 40.5%, down from 48.4% of last year.
- Non-IFRS gross margin was 40.6%, down from 48.5% of last year.
- IFRS earnings per diluted ADS were
135.6 cents , as compared to249.8 cents in 2021. - Non-IFRS earnings per diluted ADS were
158.0 cents , as compared to265.1 cents in 2021.
“Q4 sales outperformance can be attributed to our ongoing efforts to deplete excess inventory with better progress than expected toward the end of the fourth quarter, especially in the small and medium size TDDI segments. However, the inventory offloading process has adversely impacted gross margin as, where necessary, inventory sales were priced at a discount with goods prepared when both foundry and backend prices were higher due to overall tight capacity at the time. Looking ahead, we expect inventory levels to normalize within the next 2 to 3 quarters. We will provide additional detailed updates during the upcoming earnings call,” said Mr.
About
http://www.himax.com.tw
Forward Looking Statements
Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company's
Company Contacts:
Tel: +886-6-505-0880
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw
Tel: +886-2-2370-3999
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw
Investor Relations - US Representative
Tel: +1-312-261-6430
Email: HIMX@mzgroup.us
www.mzgroup.us
Source:
2023 GlobeNewswire, Inc., source