Himax 3Q10 revenues decrease 26.3% sequentially

TFT LCD driver IC maker Himax Technologies 3Q10 revenues were US$138 million, down 26.3% sequentially but still meeting its adjusted forecast. And gross margin increased 2.5pp to 22.9%. Quarterly net income came to US$400,000. Non-driver IC products accounted for 8.4% in 3Q revenues.

The company thought the decline result mainly affected from china-based customers raised inventory levels in 2Q but the government unexpectedly introduced tighter regulations on white-box handsets. But Himax was confident that capacity expansion by China-based panel makers would bring new opportunities for driver IC makers.

With customers having success in clearing inventory, Himax's non-driver IC portfolio included LCOS pico projectors, and CMOS image sensors, and white-light LED driver ICs, started receiving a new order, through its subsidiary.

Although the company expected flat sequential growth for 4Q, small-to-medium size driver IC products should still see stable growth.

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