U.S. Markets open in 8 hrs 11 mins

Himax misses Street 4Q forecasts

TAIWAN, Taiwan (AP) _ Himax Technologies Inc. (HIMX) on Tuesday reported fourth-quarter profit of $23.5 million.

The Taiwan, Taiwan-based company said it had profit of 14 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The fabless semiconductor company posted revenue of $181.1 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $185.9 million.

For the year, the company reported profit of $28 million, or 16 cents per share. Revenue was reported as $685.2 million.

Himax shares have dropped 20 percent since the beginning of the year. The stock has increased 64 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HIMX at https://www.zacks.com/ap/HIMX