Yahoo Finance Himax Technologies, Inc. (NASDAQ:HIMX) Q4 2023 Earnings Call Transcript
Himax Technologies, Inc. (NASDAQ:HIMX) Q4 2023 Earnings Call Transcript February 6, 2024
Himax Technologies, Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good day and thank you for standing by. Welcome to the Himax Technologies Fourth Quarter and Full-Year 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the conference over your host, Mr. Mark Schwalenberg from MZ Group. Please go ahead.
Mark Schwalenberg: Welcome, everyone to the Himax's fourth quarter and full-year 2023 earnings call. Joining us from the company are Mr. Jordan Wu, President and Chief Executive Officer; Ms. Jessica Pan, Chief Financial Officer; and Mr. Eric Lee, Chief IR/PR Officer. After the company's prepared remarks, we have allocated time for questions in a Q&A session. If you've not yet received a copy of today's results release, please email himx@mzgroup.us. Access the press release on financial portals, or download a copy from Himax's website at www.himax.com.tw. Before we begin the formal remarks, I'd like to remind everyone that some of the statements in this conference call, including statements regarding expected future financial results and industry growth, are forward-looking statements that involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this conference call.
A list of factors can be found in the company's SEC filings, Form 20-F for the year ended December 31, 2022, in the section entitled Risk Factors, as may be amended. Except for the company's full-year of 2022 financials, which were provided in the company's 20-F and filed with the SEC on April 6, 2023, the financial information included in this conference call is unaudited and consolidated and prepared in accordance with IFRS accounting. Such financial information is generated internally and is not been subjected to the same review and scrutiny, including internal auditing procedures and external audits by an independent auditor to which we subject our annual consolidated financial statements and may vary materially from the audited consolidated financial information for the same period.
The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. I will now like to turn the call over to Mr. Eric Li. Eric, the floor is yours.
Eric Li: Thank you, Mark, and thank you, everyone, for joining us. My name is Eric Li, Chief IR/PR Officer at Himax. On today's call, I will first review the Himax consolidated finance performance for the fourth quarter and full-year 2023, followed by our first quarter 2024 outlook. Jordan will then give an update on the status of our business, after which we will take questions. We will review our financials on an IFRS basis. We are delighted to announce that Q4 2023 revenues and profits both surpassed the guidance, while gross margin was in line with the guidance issued on November 9, 2023. This was primarily attributable to better-than-expected order momentum in major product categories, as well as cost improvements. Fourth quarter revenues registered $227.7 million, a decrease of 4.5% sequentially, but exceeding our guidance range of 5% to 11% decline.
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