May 6, 2021 06:05 ET | Source: Himax Technologies, Inc. Himax Technologies, Inc.
Tainan City, Taiwan Province, China
The company's revenue, gross margin, and earnings per share in the first quarter of 2021 all exceeded guidance; revenue, gross margin, and earnings per share all reached its pre-announced key financial performance and set a record high
Provide guidance for the second quarter of 2021: revenue will continue to increase by 15%-20%, gross profit margin is expected to be 45.5%-47.5%, the IFRS profit of each diluted ADS is 54.0 cents to 60.0 cents, and the non-profit of each diluted ADS IFRS profit is 54.2 cents to 60.2 cents
Tainan, Taiwan, May 06, 2021 (GLOBE NEWSWIRE) - Himax Technologies, Inc. (NASDAQ: HIMX) ("Himax" or "Himax"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products "Company") announced its financial results for the first quarter ended March 31, 2021.
"We still see a serious imbalance between supply and demand. Although the foundry's capacity exceeds 100%, the demand far exceeds the supply. With the rapid growth of 5G and high-performance computing, the demand for advanced process semiconductors has increased significantly. The digital world is increasingly The trend of interconnection has also promoted higher demand for mature nodes, especially from display driver ICs, power management ICs, CMOS image sensors, automotive industry, and various AIoT devices. These devices are ubiquitous and still in number. Rapid increase. Adding all of this together, what we have is a structural shift in the dynamics of supply and demand, especially for mature nodes that have lacked meaningful capacity expansion for many years,” said Mr. Jordan Wu, President and CEO of Himax.
"Compared with last year, we managed to secure more production capacity this year, and it is expected that available capacity in 2021 will increase quarter by quarter. Looking ahead, we are taking measures to cooperate with our strategic foundry partners to further expand our long-term Capacity pool. We will provide more details when they appear," Mr. Jordan Wu concluded.
Himax recorded net income of US$309 million, an increase of 12.1% from the previous quarter and an increase of 67.4% from the same period last year. The 12.1% quarter-on-quarter revenue growth surpassed the guidance of approximately 5-10% quarter-on-quarter growth, and demand in all major business units was strong. The gross profit margin was 40.2%, exceeding the guidance of 37% to 38%, which is a significant improvement from the 31.2% in the fourth quarter of 2020. The IFRS diluted ADS profit per share was 38.3 cents, exceeding the guideline by 30.0 cents to 34.0 cents. Strong sales and improved gross profit margin contributed to better than expected earnings results. Each diluted ADS non-IFRS profit is 38.4 cents, exceeding the guidance of 30.1 cents to 34.1 cents.
Revenue from large display drivers was US$69.9 million, an increase of 8.8% quarter-on-quarter and 13.9% year-on-year. Driven by the growing demand for remote work and distance education, notebook computer revenue increased by more than 70% month-on-month. TV revenue also increased by about 8% month-on-month. However, as predicted in the last earnings conference call, due to the shortage of foundry capacity, the sales of Monitor IC declined from the previous month. Large panel driver ICs accounted for 22.6% of total revenue this quarter, compared with 23.3% in the fourth quarter of 2020 and 33.2% in the same period last year.
Small and medium-sized display drivers continued to grow in the first quarter and were better than expected, with revenue of US$204.1 million, an increase of 14.7% from the previous quarter and a year-on-year increase of 133.3%. The TDDI of smartphones and tablets grew strongly in the first quarter, continuing the high base in the fourth quarter of last year. From a year-on-year perspective, the sales of smartphones and tablet PCs both showed substantial growth. In the case of a severe shortage of production capacity in the global automotive market, the automotive sector has achieved good continuous growth. Small and medium-sized sectors accounted for 66.1% of total sales in the quarter, compared with 64.5% in the fourth quarter of 2020 and 47.4% in the same period last year.
In the first quarter, smartphone sales continued to grow, with revenue reaching US$80.2 million, an increase of 20.6% from the previous quarter and a year-on-year increase of 256.4%. The smartphone division accounted for 26.0% of total sales in the first quarter. Smartphone TDDI sales increased by more than 30% month-on-month and 5 times year-on-year, showing strong market demand and market share growth. Sales of traditional smartphone DDIC continue to decline as expected. As mentioned earlier, the DDIC of traditional smartphones is rapidly being replaced by TDDI and AMOLED.
Tablet computer revenue in the first quarter hit a record high again, reaching $73 million. Due to the strong demand for home work and online learning, the first quarter sales of tablet PC drivers increased by 8.3% from the previous quarter and more than 150% year-on-year. Tablet computer revenue accounted for more than 23% of total sales in the first quarter. Tablet PC TDDI revenue increased by 10% month-on-month, which was the fourth consecutive quarter of growth since mass production began in the first quarter of 2020. The main or sole source supplier for the main end customer. Revenue from traditional discrete driver ICs used in tablet PCs increased by 5.9% from the previous quarter and 58.9% from the same period last year.
In the first quarter, automotive driver IC revenue was US$43.7 million, an increase of 16.4% from the previous quarter and a year-on-year increase of 44.3%. The automotive driver IC business accounted for more than 14% of total revenue in the quarter. Despite considerable growth, the company still faces a serious shortage of foundry production capacity for automotive applications. As the last earnings conference call indicated, although the shortage is expected to persist, Himax expects to expand shipments quarter by quarter this year and continue into next year.
Revenue from non-driver business in the first quarter was US$35 million, an increase of 4.0% from the previous quarter, but a decrease of 2.0% from the same period last year. The quarter-on-quarter increase was mainly due to the increase in WLO shipments to major customers to meet the continuous demand for traditional products and more Tcon shipments. The year-on-year decrease was mainly due to the decrease in WLO shipments. However, the Tcon and CMOS image sensor segments both recorded impressive year-on-year growth, increasing by more than 50% and 70%, respectively. Non-driver products accounted for 11.3% of total revenue, compared with 12.2% in the fourth quarter of 2020 and 19.4% a year ago.
The gross profit margin in the first quarter was 40.2%, an increase of 9.0 percentage points from the previous quarter and an increase of 17.5 percentage points from the same period last year. As the semiconductor industry's capacity shortage in foundry, packaging and testing has intensified, ASUS has further optimized its product structure, strategically favoring more products with higher profit margins, and at the same time increasing product pricing to reflect the cost of all product segments. rise. However, compared with the same period last year, the leap in gross profit margin was offset to some extent by the decline in WLO shipments, as the traditional products of major customers were gradually decreasing.
In the first quarter, IFRS operating expenses were US$39.5 million, a decrease of 9.9% from the previous quarter, but an increase of 5.9% from the same period last year. The quarter-on-quarter decrease in operating expenses was due to the one-time cash bonus paid to the team in the fourth quarter of 2020, and the year-on-year increase was mainly due to rising wages. Non-IFRS operating expenses in the first quarter were US$39.2 million, a decrease of 9.9% from the previous quarter and an increase of 6.9% from the same period in 2020.
Reflecting higher sales and better gross margins, IFRS's operating income in the first quarter was US$84.8 million, and its operating profit margin was 27.4%, which was higher than 15.3% in the previous quarter and 2.5% in the same period last year. Non-IFRS operating income in the first quarter was US$85.1 million, accounting for 27.5% of sales, higher than the previous quarter’s US$42.5 million, accounting for 15.4% of sales, and higher than the same period last year’s US$5.3 million, accounting for 2.9% of sales %. Operating income and operating profit margin both hit record highs.
The after-tax profit of IFRS in the first quarter reached a record high of US$66.9 million, or 38.3 cents per diluted ADS, compared to US$34 million in the previous quarter, or 19.5 cents per diluted ADS, compared to the previous quarter’s tax The post profit was $3.3 million, or 1.9 cents per diluted ADS, a year ago. The non-IFRS profit in the first quarter was US$67.1 million, which is 38.4 cents per diluted ADS, while the non-IFRS profit in the previous quarter was US$34.2 million, which is 19.7 cents per diluted ADS. Non-IFRS profit For 3.8 million U.S. dollars, that is, each diluted ADS income was 2.2 cents in the same period last year.
Balance sheet and cash flow
As of March 31, 2021, Himax had US$245.8 million in cash, cash equivalents and other financial assets, compared with US$126.6 million in the same period last year and US$201.4 million a quarter ago. The higher cash balance mainly came from operating cash inflows of US$60.3 million in the quarter. Restricted cash at the end of the first quarter was US$114.8 million, compared with US$104 million before the first quarter and US$164 million a year ago. Restricted cash is mainly used to provide guarantees for equivalent short-term secured loans. As of the end of the first quarter, it had long-term unsecured loans of US$57 million, of which US$6 million was the current portion.
As of March 31, 2021, the company's quarter-end inventory was 114.9 million U.S. dollars, higher than the 108.7 million U.S. dollars in the previous quarter and lower than 148.4 million U.S. dollars a year ago. The year-on-year decline reflects a serious imbalance between supply and demand. To be more precise, most of the company's current inventory positions are in-process products, and most of the finished products are taken by customers to meet their immediate production needs. As emphasized in the last earnings conference call, given the shortage of foundry and back-end capacity, its inventory level may remain at a relatively low level in the next few quarters. Due to increased sales, accounts receivable as of the end of March 2021 were US$289.1 million, up from US$243.6 million in the previous quarter and US$186.7 million a year ago. The DSO at the end of the quarter was 84 days, compared with 92 days a year ago and 100 days at the end of the previous quarter.
Net cash inflows from operating activities in the first quarter were US$60.3 million, compared with US$67.7 million in the previous quarter and US$10.6 million in the same period last year. Capital expenditures in the first quarter were US$2 million, compared to US$800,000 in the previous quarter and US$3.1 million a year ago. Capital expenditures in the first quarter were mainly used for R&D-related equipment for the company's IC design business.
As of March 31, 2021, Himax has 174.3 million American depositary receipts, which is almost unchanged from the previous quarter. On a fully diluted basis, the total number of outstanding ADS is 174.7 million.
Although the foundry's capacity exceeds 100%, Himax still faces a serious imbalance between supply and demand, with demand far exceeding supply. With the rapid growth of 5G and high-performance computing, the demand for advanced process semiconductors has increased significantly. The increasingly interconnected trend of the digital world has also promoted higher demand for mature nodes, especially from display driver ICs, power management ICs, CMOS image sensors, the automotive industry and various AIoT devices, which are already ubiquitous and The number is still increasing rapidly. Adding all of these together, the supply and demand dynamics have undergone a structural shift, especially for mature nodes that have lacked meaningful capacity expansion for many years.
As mentioned in the last earnings conference call, compared with last year, more production capacity was obtained this year, and the available production capacity in 2021 is expected to increase quarter by quarter. Looking ahead, more measures will be taken with strategic foundry partners to further expand the scale-term capacity pool. More details will be disclosed in due course.
In addition, taking advantage of the current favorable environment, Himax is also working hard to reposition itself to higher-end and higher value-added products through more direct and closer cooperation with selected leading end customers. The various industries the company serves have made considerable progress. For the large display area, Himax is satisfied with the current results and shifts its focus to high-resolution TVs, high-performance displays, and low-power notebook computers. For smart phones, wearable devices and tablets, the company is cooperating with strategic customers and foundry suppliers to prepare for the development of AMOLED driver ICs. For the automotive market where the company is already a leader in display driver ICs, Himax is deepening its partnerships with first-tier players and end customers in all major markets. Last but not least, in the non-drive field, the company is vigorously promoting the promotion of WiseEye's ultra-low power AI sensing solution, which has been widely adopted by many AIoT applications. The company's number of 3D decoder ICs has also increased. More about this will be explained in detail in later chapters.
Himax expects large display driver IC revenue to grow by about 20% from the previous quarter, and the three major product lines are expected to grow further in the second quarter. Due to the continued demand for working at home and studying at home, it expects that the sales of monitors and notebook ICs will increase significantly in the second quarter. For the TV IC field, it is expected that there will be an impressive quarterly growth in the second quarter, mainly due to the shipment of high-end TV products entering the world’s leading end customers. The strategy of leading the end customer. The previous section. Nevertheless, the company's shipments in the second quarter were constrained by insufficient production capacity of its large panel driver IC business.
Recently, Himax has seen strong customer demand for high-end displays after the pandemic. When people work, study and play games at home, they do more than before. They require higher resolution, higher frame rates, ultra-wide screens, curved views, and sometimes even multiple monitors. Himax continues to lead the high-end display market by cooperating with leading panel manufacturers and end customers to provide advanced driver ICs and Tcon.
Himax believes that demand in the three market segments of smartphones, tablets and automobiles will continue to be strong in the second quarter. Similarly, due to the tight foundry capacity, the company is unable to meet the needs of all customers. As a leading supplier in the Android tablet market, it is strategically allocating capacity to support tablets rather than smartphones to support the needs of home work and distance learning. For the second quarter, sales of tablet PCs are expected to increase by about 15 years old, and sales of smartphones remain the same as the previous quarter, reflecting the company's capacity allocation decision. With the expansion of production capacity in the last earnings conference call, the automotive drive business is expected to grow by more than 20%, the highest among the three market segments of the small and medium drive IC business.
Since 2020, tablet PCs have become one of the company's largest sales contributors. With the accelerated penetration of TDDI in the leading Android brand and strong demand driven by the home economy, tablet PCs continue to grow. For the second quarter, as its tablet customers are accelerating the adoption of TDDI, it expects tablet TDDI sales to increase by more than 20%. The momentum of TDDI for high-end tablets is particularly good because people desire more advanced features such as higher frame rates, higher resolution, larger screen sizes, and active handwriting for better quality handwriting and drawing Pen. All these trends have enabled Himax to gain higher ASP and growing market share. Third, tablet TDDI enjoys a better profit margin, and its rapid growth will help increase the company's overall gross profit margin. Finally, in terms of tablet products, traditional DDIC revenue is expected to remain flat in the second quarter.
Although customers demand increased shipments, but due to severe capacity constraints, smartphone TDDI sales are expected to be the same as the previous quarter. Discrete drives for smartphones, with relatively low operating volume, are expected to grow strongly with seasonal demand in the second quarter. As mentioned earlier, the DDIC of smartphones and tablets are in a downward trend because they are being replaced by TDDI.
There are reports that the global automotive industry has recovered strongly and suddenly from the early downturn that began at the end of last year, but it has also suffered from a severe shortage of semiconductor supplies. The display driver IC provided by Himax for automotive applications has also experienced the same thing, where the company occupies more than 30% of the world's leading market share. As the continuous capacity shortage continues to intensify, panel manufacturers, tier one suppliers and end customers seek Himax to increase the supply of automotive display driver ICs. In anticipation of the growing demand for automotive displays and the shortage of production capacity, Himax participated early and ensured a significant increase in production capacity this year and in the longer term. The company expects that the sales of the automotive industry in the second quarter will increase by more than 20% from the previous quarter, and the year-on-year growth will exceed 100%. Despite the impressive growth, demand still far exceeds the company's available foundry capacity.
With the rapid growth of electric vehicles and autonomous driving, which is considered to be the "next big thing", car interiors are catering to better human-vehicle interaction with more and more stylish designs, and the number of panels equipped with advanced display technologies continues to increase. TDDI and local dimming. As the market leader in the automotive display driver business, Himax is in a leading position in meeting such demands. For example, the company, together with direct and indirect customers on all continents, dominates the design and design of automotive TDDI, a technology that is essential for ultra-large, stylish and free-form automotive displays. It is also ahead of the emerging local dimming technology, which can not only provide effective energy saving vital to electric vehicles, but also enhance the display contrast for better viewing in bright sunlight. In addition, the company's high-speed P2P bridge and LTDI solutions are designed for super large panels, which can achieve column-to-column display sizes. With the release of these new demands for advanced display technology, Himax expects that the automotive industry's sales will increase exponentially in the next few years.
Because AMOLED provides better display quality, lower power consumption, and plastic-free shape design, the technology has gained appeal in the high-end market. As mentioned earlier, Himax is highly committed to AMOLED technology. Its development starts with smart phones and extends to wearables, tablets and cars. In March, the company cooperated with BOEVx, the world's leading supplier of automotive display products, and successfully won the AMOLED display design of a leading electric vehicle manufacturer for its upcoming flagship model. With Himax AMOLED driver IC and timing controller solutions, Himax and BOEVx have collaborated to provide flexible AMOLED automotive displays, starting with more than 12.8 inches of central information display products. Small batch shipments are expected to begin in the fourth quarter of 2021. For other AMOLED applications, Himax continues its development work by actively cooperating with China's leading panel manufacturers and strategic foundry partners. The company will report further progress in due course. Himax believes that AMOLED driver ICs will soon become one of the main growth drivers of its small and medium-sized panel driver IC business. For the second quarter, the revenue of the small and medium-sized driver IC business is expected to increase more than ten times from the previous quarter, and the demand is much higher than the supply. It is expected that capacity shortages in all business units in this field will continue to exist.
As foundries and back-ends have successfully obtained more production capacity, Tcon sales in the second quarter are expected to increase by more than 60% from the previous quarter. With the support of several major Tcon design awards recently won by leading end customers of gaming monitors, low-power notebook computers and 8K/4K TVs, the company's Tcon product line is expected to grow further. It is worth mentioning that Himax occupies a dominant position in the global market share of 8K TV Tcon and is adopted by almost all major TV brands. With better average selling prices and profit margins than display drivers, Tcon is expected to become a broad long-term growth area and make greater contributions to future revenue and profit growth. Similar to all Himax display driver IC businesses, the company's number of Tcons is also limited by capacity shortages, including foundry and back-end packaging.
WLO's revenue increased significantly in the first quarter, thanks to the resumption of orders from major customers of its traditional products. By the second quarter of 2021, WLO sales are expected to remain the same month-on-month, which will help maintain the utilization rate of WLO factories.
At the same time, Himax continues to cooperate with major customers and partners to develop new applications such as ToF 3D sensing, AR/VR gadgets, biomedical equipment, etc., aiming at their next-generation products.
Himax is a pioneer in the field of high-precision diffractive optics technology. With 15 years of experience, Himax has worked with some of the world's most important technology companies to make very different designs for various applications. Diffractive optical elements (DOE) can control the phase, shape, direction and even power of the incident laser light to output specific, pre-designed optical patterns and functions that are not feasible in standard refractive optics. Diffractive optics technology has been widely used in 3D sensing, AR/VR equipment, holographic display, biomedical testing, optical communication and other fields. The company believes that DOE will play a more decisive role in the next generation of optical technology. -Precise and lightweight characteristics.
In addition to WLO suitable for small electronic devices such as wearable and portable products, Himax has also expanded the coverage of its diffractive optics technology to cover large-scale applications. In October 2020, Himax made a strategic cash investment and became the controlling shareholder of CM Vision Technology (CMVT), which focuses on the design and manufacture of microstructure optical films and is a world leader in this field. CMVT provides proprietary microstructure optical design expertise, nano-scale mold engraving capabilities, and roll-to-roll nanoimprint manufacturing capabilities. CMVT's roll nanoimprint technology can support the production of large-size films at a very competitive cost, with excellent production efficiency. This is a complementary technology to Himax WLO technology. By having two teams work together, the company can now provide cutting-edge solutions for different applications covering all optical sizes. CMVT microstructure optical film Omniwide FilmTM is the best solution to various optical problems such as grayscale inversion, color shift, and light leakage from oblique viewing angles, bringing a better visual experience. The Omniwide FilmTM solution can support different types of displays, including TN, VA, IPS type TFT-LCD displays and AMOLED displays. These solutions are now available on the market.
The company's proprietary 3D decoder IC provides excellent 3D depth map decoding for first-class secure face recognition, and has been widely adopted by China's leading electronic payment equipment customers. Himax began mass production of 3D decoders in the fourth quarter of 2020, and it is expected to continue to grow in 2021.
In order to maximize market awareness and explore potential applications, Himax continues to promote two WiseEye business models, namely total solutions and discrete components.
For the WiseEye overall solution model of Himax as the solution owner, the company integrates its proprietary AI processor and CMOS image sensor, both of which have excellent ultra-low power consumption characteristics, as well as from multiple third-party software partners AI algorithm. These algorithm partners, including Emza, a subsidiary of Himax, come from different countries, and many have specific domain knowledge to meet specific market needs. The company mentioned laptops, TVs, and air conditioners in its last earnings conference call as early examples of its overall solution approach. Recently, the company officially received a top-tier household-named large order for mainstream applications, and mass production is expected to begin in the fourth quarter of this year. This early success marks an important milestone for the Himax WiseEye product line, which the company believes will become the main growth engine for its business for many years.
The company's new applications include automobiles, panoramic video conferencing, utility meters, QR code readers, doorbells and door locks. Himax is also encouraged by the progress of customer participation. All of these applications provide always-on and/or ultra-low power AI vision sensing through Himax WiseEye technology. As Himax continues to engage with major players in various industries, while working closely with its algorithm partners, the list of applications for the company's WiseEye overall solution will continue to expand.
For Himax's business model of providing AI processors and/or always-on CMOS image sensors without key components of AI algorithms, the company continues to cooperate with global AI and cloud service partners by actively participating in its ecosystem and infrastructure. Following the successful adoption of Himax WE-I Plus AI processor in Google's TensorFlow Lite for Microcontrollers framework (TFLu), in March 2021, the company's WE-I Plus AIoT platform was approved by Microsoft and obtained the Azure IoT PnP certificate. The WE-I Plus AIoT platform brings reliable, safe and long battery life edge AI to the cloud market connected by the Internet of Things. The WE-I Plus AIoT platform can perform face or object detection computer vision functions, and then only output secure metadata to the Azure IoT cloud through the NB-IoT protocol for further statistical data processing and analysis. In most cases, the WE-I Plus AIoT platform only needs 4 AA batteries to run for more than one year. WE-I Plus is the best ultra-low power battery-powered edge AIoT platform solution in Azure IoT, targeting the growing cloud service market such as smart buildings, manufacturing, retail, and agriculture. Himax WE-I makes ubiquitous AI possible.
At the same time, the company continues to demonstrate its WE-I Plus-supporting system with its ecosystem partners (such as SparkFun and Edge Impulse) in various webinars and marketing events to showcase more AI use cases. People from different industries and countries found Himax and applied the company's solutions to applications that many companies had never thought of. The enthusiastic market feedback and a large number of end customer inquiries have encouraged Himax. In return, the company provides comprehensive support services for AI developers, who can easily access open source code from Google TFLu, WE-I Plus EVK, sensor accessories from SparkFun, and development tools from Edge Impulse. Himax is pleased to help AI developers overcome the obstacles they encounter when developing AI solutions, and work with AI developers towards the upcoming decade of edge AI.
The CIS revenue is expected to be flat in the second quarter. Despite the surge in customer demand for CMOS image sensors used in web cameras and notebook computers, the company's shipments are still severely limited by foundry production capacity. Nevertheless, due to the strong participation of existing major customers, it is expected that there will be considerable growth in the second half of 2021.
The industry's first Himax 2-in-1 CMOS image sensor supports video conferencing and ultra-low-power AI facial recognition, and has been designed into some of the most stylish and thinnest bezel laptop models under some major laptop names. Small batch production started in the fourth quarter of last year. Significant growth is expected in the next few quarters.
Regarding the ultra-low power always-on CMOS image sensor targeting always-on AI applications, the company is getting more and more feedback and design adoption from customers around the world for use in various markets, such as car recorders, surveillance, Smart meters, drones, smart home appliances, and consumer electronics products. More progress will be reported in due course.
In the first quarter of 2021, Himax's proprietary front-illuminated LCoS micro-display, including integrated solutions of LCoS micro-displays, light guides and front-illuminated LEDs, was successfully designed with the world's leading industrial working environment rugged headset manufacturers. It is an assisted reality hands-free head-mounted device. The company's front-illuminated LCoS micro-display module provides a 7-inch display view below the line of sight to help workers obtain real-time work information. The company's front-illuminated LCoS micro-display shows a perfect match with customer applications in terms of compact form factor, low power consumption and higher brightness. The company is working closely with customers to obtain strict industrial-grade qualifications, and is expected to start mass shipments in the third quarter of this year.
The non-drive IC revenue in the second quarter is expected to increase by about 40% from the previous quarter.
The call replay will be available on www.himax.com.tw and on the phone two hours after the call until 11:30 AM, May 14, 2021 (Taiwan Time, 11:30 PM, May 14, 2021). (855) 859-2056 (in the United States) or 1 (404) 537-3406 (international). The conference ID number is 5878288. The conference call is being webcast on Nasdaq. It can be accessed by clicking this link or on the Himax website. The webcast can be accessed before May 6, 2022.
Himax Technologies, Inc. (NASDAQ: HIMX) is a fabless semiconductor solution provider dedicated to display imaging processing technology. Himax is a global market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, automobiles, digital cameras, car navigation, virtual reality (VR) devices, and many other consumer electronic devices. In addition, Himax designs and supplies touch sensor displays, in-cell touch and display driver integration (TDDI) single-chip solutions, LED driver ICs, power management ICs, and LCOS microdisplays for augmented reality (AR) devices and head-mounted displays Controller-Upward display (HUD) for cars. The company also provides CMOS image sensors, wafer-level optics for AR devices, 3D sensing and ultra-low power smart sensing for mobile phones, tablets, laptops, TVs, PC cameras, automobiles, security, medical Equipment, home appliances, AIoT, etc. Founded in 2001 and headquartered in Tainan, Taiwan, it currently employs approximately 2,000 people and is located in three Taiwan offices in Tainan, Hsinchu, and Taipei, as well as China, South Korea, Japan, Israel, and the United States. As of March 31, 2021, Himax has obtained 3,012 patent authorizations and 534 pending patents worldwide. Himax continues to maintain its position as the leading supplier of display image processing semiconductor solutions for global consumer electronics brands. Forward-looking statements
Factors that may cause actual events or results to be materially different from those described in this conference call include, but are not limited to, the impact of the Covid-19 pandemic on the company's business; general business and economic conditions and the state of the semiconductor industry; company development Market acceptance and competitiveness of our drive and non-drive products; demand for end-use applications; dependence on a few major customers; uncertainty about the continued success of technological innovation; our ability to develop and protect intellectual property rights; pricing pressure, including average Decline in selling prices; changes in customer order patterns; changes in estimated annual effective tax rates; shortages in supply of key components; changes in environmental laws and regulations; changes in export licenses regulated by the Export Administration Regulations (EAR); fluctuations in exchange rates; Regulatory approval for the company’s further investment; our ability to collect accounts receivable and manage inventory and other risks described in the company’s SEC filings from time to time, including the title in the Form 20-F filed for the year ended December 31, 2020 The risks identified in the "Risk Factors" section are related to the US Securities and Exchange Commission and may be modified.
Eric Li, Chief Investor Relations/Public Relations Officer, Himax Technologies, Inc. Tel: 886-6-505-0880 Fax: 886-2-2314-0877 Email: hx_ir@himax.com.tw www.himax.com.tw Karen Diao, Investor Relations Himax Technologies, Inc. Tel: 886-2-2370-3999 Fax: 886-2-2314-0877 Email: hx_ir@himax.com.tw www.himax.com.tw
Mark Schwalenberg, Director of Investor Relations-US Representative MZ North America Phone: 1-312-261-6430 Email: HIMX@mzgroup.us www.mzgroup.us
Due to rounding, the numbers will not add up