TAINAN, Taiwan, April 29, 2014 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (Nasdaq: HIMX ) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that it has disposed of a direct investment made on December 9, 2013. The Company's investment was in a US-based company focused on developing a technology for a new type of display.
Himax viewed its investment as a strategic move for Himax's driver IC business. Himax retained no board representation or management involvement in the company. The Company's investment amount of $4.0 million equated to 1,014,971 preferred shares and represented a minority stake of 4.45%. The invested company has now been fully acquired by a third party as of April 29, 2014. Himax's total gain on the disposal of the investment is approximately $12.24 million. Himax will book the proceeds initially received from the investment gain of $10.53 million in the Company's second quarter 2014 earnings report, to be filed with the SEC in its form 6-K.
About Himax Technologies, Inc.
Himax Technologies, Inc. (HIMX) is a fabless semiconductor solution provider dedicated to display imaging processing technologies. Himax is a worldwide market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and many other consumer electronics devices. Additionally, Himax designs and provides controllers for touch sensor displays, LCOS micro-displays used in palm-size projectors and head-mounted displays, LED driver ICs, power management ICs, scaler products for monitors and projectors, tailor-made video processing IC solutions and silicon IPs. The company also offers digital camera solutions, including CMOS image sensors and wafer level optics, which are used in a wide variety of applications such as mobile phone, tablet, laptop, TV, PC camera, automobile, security and medical devices. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs over 1,600 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan and the US. Himax has 2,287 patents granted and 953 patents pending approval worldwide as of March 31, 2014. Himax has retained its position as the leading display imaging processing semiconductor solution provider to consumer electronics brands worldwide.
Forward Looking Statements
Factors that could cause actual events or results to differ materially include, but not limited to, general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortages in supply of key components; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company's SEC filings, including those risks identified in the section entitled "Risk Factors" in its Form 20-F for the year ended December 31, 2015 filed with the SEC, as may be amended.
Jackie Chang, CFO Himax Technologies, Inc. Tel: +886-2-2370-3999 Ext.22300 Or US Tel: +1-949-585-9838 Ext.252 Fax: +886-2-2314-0877 Email: www.himax.com.tw Stephanie Kuo, Investor Relations - Based in US Himax Technologies, Inc. Tel: +1-949-585-9838 Ext.221 Fax: +1-949-585-9598 Email: www.himax.com.tw Steven Lin, Investor Relations - Based in Taiwan Himax Technologies, Inc. Tel: +886-2-2370-3999 Ext.22320 Fax: +886-2-2314-0877 Email: www.himax.com.tw Investor Relations - US Representative MZ North America John Mattio, SVP Tel: +1-212-301-7130 Email: www.mzgroup.us
