Himax Technologies, Inc. (HIMX) Q4 2019 Earnings Call Transcript

Himax Technologies, Inc. (HIMX) Q4 2019 Earnings Call Transcript

Jordan will then give an update on the status of our business, after which we will take questions.. We pre-announced preliminary key financial results for the fourth quarter on January 7, 2020 as the revenue, gross margin and EPS of the quarter all exceeded our guidance issued on November 7, 2019.. For the fourth quarter, we recorded net revenues of $174.9 million, an increase of 6.5% sequentially, and a decrease of 8.4% compared to the same period last year.. Both display driver and non-driver businesses contributed to the better-than-guided sales.. Gross margin was 20.6%, exceeding the prior guidance of a slight increase compared to third quarter's 19.5%.. A more favorable product mix among small display products, improved WLO factory utilization and higher-than-expected engineering fees from new project engagements enhanced the gross margin for the fourth quarter.. Stronger sales and improved gross margin both contributed to the better-than-expected earnings.. Non-IFRS profit per diluted ADS was $0.009, exceeding our guidance of a loss of $0.027 to $0.042.. Large driver ICs accounted for 33.1% of our total revenues for the quarter, compared to 30.5% in the third quarter, and 38.9% a year ago.. The segment accounted for 46.4% of total sales for the