Himax Technologies Turns To Profit In Q1

(RTTNews) - Himax Technologies Inc. (HIMX) reported that its IFRS profit for the first quarter was $3.3 million or 1.9 cents per ADS, compared to loss of $2.3 million or 1.3 cents per ADS, a year ago. The year-over-year increase were a result of higher sales, better gross margin and lower operating expenses.

First quarter non-IFRS profit was $3.8 million or 2.2 cents per ADS, compared to non-IFRS loss of $2.0 million, or 1.1 cents per ADS for the same period last year.

Net revenues were $184.6 million, an increase of 13.0% compared to the same period last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share and revenues of $186.63 million. Analysts' estimates typically exclude special items.