Himax Technologies, Inc. Reports Third Quarter 2024 Financial Results; Provides Fourth Quarter 2024 Guidance
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Himax Technologies, Inc. | |
Unaudited Condensed Consolidated Statements of Profit or Loss | |
(Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data) | | | | | |
Nine Months
Ended September 30, | | | |
2024
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2023
| | | | | | | |
Revenues | | | | | | Revenues from third parties, net | | $ | 669,555 | | | $ | 717,645 | | | Revenues from related parties, net | | | 24 | | | | 105 | | | | | | 669,579 | | | | 717,750 | | | | | | | | |
Costs and expenses: | | | | | | Cost of revenues | | | 465,638 | | | | 523,262 | | | Research and development | | | 122,745 | | | | 130,304 | | | General and administrative | | | 18,410 | | | | 19,206 | | | Sales and marketing | | | 17,644 | | | | 18,447 | | |
Total costs and expenses | | |
624,437 | | | |
691,219 | | | | | | | | |
Operating income | | |
45,142 | | | |
26,531 | | | | | | | | |
Non operating income (loss): | | | | | | Interest income | | | 7,865 | | | | 6,812 | | | Changes in fair value of financial assets at fair value through profit or loss | | | 118 | | | | (55 | ) | | Foreign currency exchange gains, net | | | 1,801 | | | | 757 | | | Finance costs | | | (3,050 | ) | | | (4,940 | ) | | Share of losses of associates | | | (471 | ) | | | (584 | ) | | Other income | | | 138 | | | | 520 | | | | | | 6,401 | | | | 2,510 | | |
Profit before income taxes | | | 51,543 | | | | 29,041 | | | Income tax expense (benefit) | | | (3,196 | ) | | | 2,905 | | |
Profit for the period | | | 54,739 | | | | 26,136 | | |
Loss attributable to noncontrolling interests | | | 408 | | | | 915 | | |
Profit attributable to Himax Technologies, Inc. stockholders | |
$ |
55,147 | | |
$ |
27,051 | | | | | | | | |
Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders | |
$ |
0.316 | | |
$ |
0.155 | | |
Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders | |
$ |
0.315 | | |
$ |
0.155 | | | | | | | | |
Basic Weighted Average Outstanding ADS | | |
174,725 | | | |
174,418 | | |
Diluted Weighted Average Outstanding ADS | | |
174,935 | | | |
174,701 | | | | | | | | | | | |
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