Himax sees second-quarter revenue below Street; shares down
(Reuters) - Taiwanese chip maker Himax Technologies Inc (HIMX.O) reported preliminary quarterly revenue below analysts' expectations, citing delay in Smartphone orders.
Himax, which makes chips used in flat panel displays and display drivers, shares fell 11 percent in trading before the bell.
"Smartphone orders got pushed back to the third quarter," the company said. This pulled down second-quarter sales slightly below its previous forecast.
Himax said it expects to report second-quarter revenue of $189.5 million.
Analysts on average were expecting revenue of $194.2 million, according to Thomson Reuters I/B/E/S.
The company also said it expects to report earnings of 8.9 cents per share, in line with the 8 cents-to-10 cents per share range it forecast in May.
Shares of the Taiwan-based company were trading at $1.71 before markets opened.
(Reporting by Aditi Shrivastava in Bangalore; Editing by Joyjeet Das)
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