Edgar Filing: Himax Technologies, Inc.

Himax Technologies, Inc.

Unaudited Condensed Consolidated Balance Sheets

(Figures in Thousands of U.S. Dollars)

Unassociated Document

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of May, 2007

Commission File Number: 000-51847

Himax Technologies, Inc.

(Translation of registrant’s name into English)

No.26, Zih Lian Road, Fonghua Village,

Sinshih Township, Tainan County 744,

Taiwan, Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F

Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes

Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

Himax Technologies, Inc.

INDEX TO EXHIBITS

Exhibit

99.1	“Himax Updates Third Quarter, Fourth Quarter and Full Year 2006 Results” dated May 9, 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	HIMAX TECHNOLOGIES, INC.

	By:	/s/ Max Chan
		Name: Max Chan
		Title: Chief Financial Officer

Date: May 9th, 2007

Exhibit 99.1

HIMAX UPDATES THIRD QUARTER, FOURTH QUARTER AND FULL YEAR 2006 RESULTS

Himax Technologies, Inc. (“Himax” or ”Company”) (Nasdaq: HIMX) today updated financial results for the third quarter, fourth quarter and full year 2006 as compared to the financial results presented previously on November 7, 2006 and February 13, 2007.

Revenues remain at $177.1 million for the third quarter, $220.9 million for the fourth quarter and $744.5 million for the full year 2006. Net incomes are updated to $0.01, $0.16 and $0.39 per share as compared to $0.02, $0.15 and $0.39 per share presented previously for the third quarter, fourth quarter and the full year 2006 respectively.

Primary changes between originally presented and updated results are noted below:

(1) operating expenses were impacted by a change in the Company’s accounting treatment of its cash signing bonus plan from deferring and amortizing over a three-year period to charging as an expense in current period when paid, (2) income tax expense was decreased due primarily to a higher estimated tax exemption and the tax effect resulting from the change in the accounting treatment of the cash signing bonus plan, and (3) changes in certain classifications, e.g., the revenues between related parties and third parties in the statements of income; prepaid expenses and property and equipment in the balance sheets and reconciled items for the cash flows from operating and investing activities in the statements of cash flows.

A reconciliation of our corrected and originally presented gross margin and operating margin excluding share-based compensation, a non-GAAP financial measure, to our corrected and originally presented GAAP gross margin and GAAP operating margin, our most comparable GAAP figure, is set out in the attached reconciliation schedule.

- Tables Attached -

Himax Technologies, Inc.

Unaudited Condensed Consolidated Statements of Income

(These interim financials do not fully comply with US GAAP because they omit all interim disclosure required by US GAAP.)
(Figures in Thousands of U.S. Dollars, Except Per Share Data)

	Three Months Ended September 30, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Revenues
Revenues from third parties, net	$	88,878		$	89,044		$	(166	)
Revenues from related parties, net		88,227			88,061			166
		177,105			177,105			---

Costs and expenses:
Cost of revenues		146,287			146,287			---
Research and development		24,267			22,685			1,582
General and administrative		3,190			3,027			163
Sales and marketing		2,586			2,364			222
Total costs and expenses		176,330			174,363			1,967

Operating income		775			2,742			(1,967	)

Non operating income (loss):
Interest income		2,000			2,000			---
Foreign exchange losses, net		(1,298	)		(1,298	)		---
Other income, net		59			59			---
		761			761			---
Income before income taxes and minority interest		1,536			3,503			(1,967	)
Income tax benefit		(1,246	)		(1,246	)		---
Income before minority interest		2,782			4,749			(1,967	)
Minority interest, net of tax		(157	)		(157	)		---
Net income	$	2,625		$	4,592		$	(1,967	)

Basic earnings per ordinary share and ADS	$	0.01		$	0.02		$	(0.01	)
Diluted earnings per ordinary share and ADS	$	0.01		$	0.02		$	(0.01	)

Basic Weighted Average Outstanding Shares		197,110			197,110			---
Diluted Weighted Average Outstanding Shares		199,729			199,729			---

Himax Technologies, Inc.

Unaudited Condensed Consolidated Statements of Income

(Figures in Thousands of U.S. Dollars, Except Per Share Data)

	Nine Months Ended September 30, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Revenues
Revenues from third parties, net	$	238,939		$	239,105		$	(166	)
Revenues from related parties, net		284,700			284,534			166
		523,639			523,639			---
Costs and expenses:
Cost of revenues		422,351			422,351			---
Research and development		46,772			45,190			1,582
General and administrative		6,582			6,419			163
Sales and marketing		4,690			4,468			222
Total costs and expenses		480,395			478,428			1,967

Operating income		43,244			45,211			(1,967	)

Non operating income (loss):
Interest income		4,048			4,048			---
Impairment loss on an investment		(1,500	)		(1,500	)		---
Foreign exchange losses, net		(132	)		(132	)		---
Interest expense		(311	)		(311	)		---
Other income, net		172			172			---
		2,277			2,277			---

Income before income taxes and minority interest		45,521			47,488			(1,967	)
Income tax expense		1,491			1,491			---
Income before minority interest		44,030			45,997			(1,967	)
Minority interest, net of tax		59			59			---
Net income	$	44,089		$	46,056		$	(1,967	)

Basic earnings per ordinary share and ADS	$	0.23		$	0.24		$	(0.01	)
Diluted earnings per ordinary share and ADS	$	0.23		$	0.24		$	(0.01	)

Himax Technologies, Inc.
Unaudited Condensed Consolidated Balance Sheets
(Figures in Thousands of U.S. Dollars)


	Sep 30,		Sep 30,		Changes to the Originally Presented
	2006		2006
	As Corrected		As Originally Presented
Assets
Current assets:
Cash and cash equivalents	$	155,594	$	155,594	$	---
Marketable securities available-for-sale		4,072		4,072		---
Restricted cash equivalents and marketable securities		31		31		---
Accounts receivable, less allowance for sales returns and discounts		101,660		101,660		---
Accounts receivable from related parties, less allowance for sales returns and discounts		71,530		71,530		---
Inventories		106,977		106,977		---
Deferred income taxes		11,202		11,202		---
Prepaid expenses and other current assets		18,655		20,622		(1,967	)
Total current assets	$	469,721	$	471,688	$	(1,967	)
Property and equipment, net		34,946		34,946		---
Deferred income taxes		134		134		---
Intangible assets, net		61		61		---
Investments in non-marketable securities		1,723		1,723		---
Refundable deposits		603		603		---
		37,467		37,467		---
Total assets	$	507,188	$	509,155	$	(1,967	)

Liabilities, minority interest and stockholders’ equity
Current liabilities:
Accounts payable	$	106,829	$	106,829	$	---
Income tax payable		11,783		11,783		---
Other accrued expenses and other current liabilities		16,029		16,029		---
Total current liabilities	$	134,641	$	134,641	$	---
Minority interest	$	1,054	$	1,054	$	---
Stockholders’ equity:
Ordinary share, US$0.0001 par value, 500,000,000 shares authorized		19		19		---
Additional paid-in capital		260,031		260,031		---
Accumulated other comprehensive income		27		27		---
Unappropriated earnings		111,416		113,383		(1,967	)
Total stockholders’ equity	$	371,493	$	373,460	$	(1,967	)
Total liabilities, minority interest and stockholders’ equity	$	507,188	$	509,155	$	(1,967	)

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Figures in Thousands of U.S. Dollars)

	Three Months Ended September 30, 2006
	As Corrected			As Originally Presented			Changes to the Originally Presented

Cash flows from operating activities:

Net income	$	2,625		$	4,592		$	(1,967	)
Adjustments to reconcile net income to net cash used in operating activities:								---
Depreciation and amortization		1,119			1,119			---
Share-based compensation expenses		11,456			11,456			---
Minority interest, net of tax		157			157			---
Gain on sale of subsidiary shares, net		(11	)		(11	)		---
Gain on sale of marketable securities, net		(12	)		(12	)		---
Deferred income taxes		132			132			---
Changes in operating assets and liabilities:								---
Accounts receivable		(14,772	)		(14,772	)		---
Accounts receivable from related parties		(5,096	)		(5,096	)		---
Inventories		(7,369	)		(7,369	)		---
Prepaid expenses and other current assets		(2,530	)		(4,497	)		1,967
Accounts payable		8,815			8,815			---
Income tax payable		(1,075	)		(1,075	)		---
Other accrued expenses and other current liabilities		3,477			3,477			---
Net cash used in operating activities		(3,084	)		(3,084	)		---

Cash flows from investing activities:
Purchase of land, property and equipment		(5,691	)		(5,691	)		---
Purchase of available-for-sales marketable securities		(10,608	)		(10,608	)		---
Sales and maturities of available-for-sale marketable securities		8,480			8,480			---
Proceeds from sale of subsidiary shares by Himax Technologies Limited		27			27			---
Purchase of investments in non-marketable securities		(1,410	)		(1,410	)		---
Purchase of subsidiary shares from minority interest		(64	)		(64	)		---
Increase in refundable deposits		(92	)		(92	)		---
Release of restricted cash equivalents and marketable securities		424			424			---
Net cash used in investing activities		(8,934	)		(8,934	)		---

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Figures in Thousands of U.S. Dollars)

	Three Months Ended September 30, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Cash flows from financing activities:
Proceeds from issuance of new shares by subsidiaries		655			655			---
Net cash provided by financing activities		655			655			---
Effect of exchange rate changes on cash and cash equivalents		73			73			---
Net decrease in cash and cash equivalents		(11,290	)		(11,290	)		---
Cash and cash equivalents at beginning of period		166,884			166,884			---
Cash and cash equivalents at end of period	$	155,594		$	155,594			---

Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$	---		$	---		$	---
Income taxes	$	21		$	21		$	---
Supplemental disclosures of non-cash investing and financing activities:
Payable for purchase of equipment and construction in progress	$	(1,750	)	$	(1,750	)	$	---

Himax Technologies, Inc.
Unaudited Supplemental Data - Reconciliation Schedule
(Figures in Thousands of U.S. Dollars, Except Per Share Data)

Gross Margin and Operating Margin Excluding Share-based Compensation:
	Three Months Ended September 30, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Revenues	$	177,105		$	177,105		$	---

Gross profit		30,818			30,818			---
Add: Share-based compensation – Cost of revenues		208			208			---
Gross profit excluding share-based compensation		31,026			31,026			---
Gross margin excluding share-based compensation		17.5	%		17.5	%		---

Operating income		775			2,742			(1,967	)
Add: Share-based compensation		11,456			11,456			---
Operating income excluding share-based compensation		12,231			14,198			(1,967	)
Operating margin excluding share-based compensation		6.9	%		8.0	%		(1.1	%)

*Gross margin excluding share-based compensation equals gross profit excluding share-based compensation divided by revenues
*Operating margin excluding share-based compensation equals operating income excluding share-based compensation divided by revenues

Diluted Earnings Per Share Excluding Share-Based Compensation:
	Three Months Ended September 30, 2006				Changes to the Originally Presented
	As Corrected		As Originally Presented		Changes to the Originally Presented
Diluted GAAP EPS	$	0.01	$	0.02	$	(0.01	)
Add: Estimated share-based compensation per diluted share		0.06		0.06		---

Diluted non GAAP EPS excluding share-based compensation	$	0.07	$	0.08	$	(0.01	)

Numbers do not add up to rounding

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Income
(Figures in Thousands of U.S. Dollars, Except Per Share Data)

	Three Months Ended December 31, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Revenues
Revenues from third parties, net	$	90,947		$	91,920		$	(973	)
Revenues from related parties, net		129,932			128,959			973
		220,879			220,879			---

Costs and expenses:
Cost of revenues		179,214			179,214			---
Research and development		13,883			13,642			241
General and administrative		3,180			3,108			72
Sales and marketing		2,280			2,150			130
Total costs and expenses		198,557			198,114			443

Operating income		22,322			22,765			(443	)

Non operating income (loss):
Interest income		1,812			1,812			---
Foreign exchange gains (losses), net		(209	)		356			(565	)
Other income, net		61			61			---
		1,664			2,229			(565	)
Income before income taxes and minority interest		23,986			24,994			(1,008	)
Income tax benefit		(6,937	)		(4,211	)		(2,726	)
Income before minority interest		30,923			29,205			1,718
Minority interest, net of tax		178			183			(5	)
Net income	$	31,101		$	29,388		$	1,713

Basic earnings per ordinary share and ADS	$	0.16		$	0.15		$	0.01
Diluted earnings per ordinary share and ADS	$	0.16		$	0.15		$	0.01

Basic Weighted Average Outstanding Shares		198,154			198,147			7
Diluted Weighted Average Outstanding Shares		199,419			199,518			(99	)

Himax Technologies, Inc.

Unaudited Condensed Consolidated Statements of Income

(Figures in Thousands of U.S. Dollars, Except Per Share Data)

	Twelve Months Ended December 31, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Revenues
Revenues from third parties, net	$	329,886		$	331,025		$	(1,139	)
Revenues from related parties, net		414,632			413,493			1,139
		744,518			744,518			---
Costs and expenses:
Cost of revenues		601,565			601,565			---
Research and development		60,655			58,832			1,823
General and administrative		9,762			9,527			235
Sales and marketing		6,970			6,618			352
Total costs and expenses		678,952			676,542			2,410

Operating income		65,566			67,976			(2,410	)

Non operating income (loss):
Interest income		5,860			5,860			---
Impairment loss on an investment		(1,500	)		(1,500	)		---
Foreign exchange gains (losses), net		(341	)		224			(565	)
Interest expense		(311	)		(311	)		---
Other income, net		233			233			---
		3,941			4,506			(565	)

Income before income taxes and minority interest		69,507			72,482			(2,975	)
Income tax benefit		(5,446	)		(2,720	)		(2,726	)
Income before minority interest		74,953			75,202			(249	)
Minority interest, net of tax		237			242			(5	)
Net income	$	75,190		$	75,444		$	(254	)

Basic earnings per ordinary share and ADS	$	0.39		$	0.39			---
Diluted earnings per ordinary share and ADS	$	0.39		$	0.39			---

	Dec 31,			Dec 31,			Changes to the Originally Presented
	2006			2006
	As Corrected			As Originally Presented
Assets
Current assets:
Cash and cash equivalents	$	109,753		$	109,753		$	---
Marketable securities available-for-sale		8,828			8,828			---
Restricted cash equivalents and marketable securities		108			108			---
Accounts receivable, less allowance for doubtful accounts, sales returns and discounts		112,363			113,521			(1,158	)
Accounts receivable from related parties, less allowance for doubtful accounts, sales returns and discounts		117,254			116,096			1,158
Inventories		101,341			101,341			---
Deferred income taxes		7,362			6,721			641
Prepaid expenses and other current assets		10,343			10,404			(61	)
Total current assets	$	467,352		$	466,772		$	580
Property and equipment, net		38,895			41,918			(3,023	)
Deferred income taxes		11,405			11,454			(49	)
Intangible assets, net		393			393			---
Investments in non-marketable securities		817			817			---
Refundable deposits		550			550			---
		52,060			55,132			(3,072	)
Total assets	$	519,412		$	521,904		$	(2,492	)

Liabilities, minority interest and stockholders’ equity
Current liabilities:
Accounts payable	$	120,407		$	120,407		$	---
Income tax payable		12,284			14,385			(2,101	)
Other accrued expenses and other current liabilities		21,398			21,274			124
Total current liabilities	$	154,089		$	156,066		$	(1,977	)
Other liabilities		---			191			(191	)
Total liabilities	$	154,089		$	156,257		$	(2,168	)
Minority interest	$	1,396		$	1,397		$	(1	)
Stockholders’ equity:
Ordinary share, US$0.0001 par value, 500,000,000 shares authorized		19			19			---
Additional paid-in capital		221,666			221,666			---
Accumulated other comprehensive loss		(275	)		(207	)		(68	)
Unappropriated earnings		142,517			142,772			(255	)
Total stockholders’ equity	$	363,927		$	364,250		$	(323	)
Total liabilities, minority interest and stockholders’ equity	$	519,412		$	521,904		$	(2,492	)

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Figures in Thousands of U.S. Dollars)

	Three Months Ended December 31, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented

Cash flows from operating activities:

Net income	$	31,101		$	29,388		$	1,713
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		1,680			1,869			(189	)
Share-based compensation expenses		1,493			1,493			---
Minority interest, net of tax		(178	)		(183	)		5
Gain on sale of subsidiary shares and investments in non-marketable securities, net		(49	)		(49	)		---
Gain on sale of marketable securities, net		(12	)		(12	)		---
Deferred income taxes		(7,332	)		(6,842	)		(490	)
Inventories write downs		2,050			2,691			(641	)
Changes in operating assets and liabilities:
Accounts receivable		(10,488	)		(11,840	)		1,352
Accounts receivable from related parties		(45,667	)		(44,346	)		(1,321	)
Inventories		7,527			6,885			642
Prepaid expenses and other current assets		4,125			6,285			(2,160	)
Accounts payable		13,578			13,563			15
Income tax payable		457			2,601			(2,144	)
Other accrued expenses and other current liabilities		3,067			1,327			1,740
Net cash provided by operating activities		1,352			2,830			(1,478	)

Cash flows from investing activities:
Purchase of property and equipment		(4,187	)		(5,628	)		1,441
Purchase of available-for-sales marketable securities		(12,678	)		(12,678	)		---
Sales and maturities of available-for-sale marketable securities		7,940			7,940			---
Cash acquired in acquisition		17			---			17
Proceeds from sale of subsidiary shares and investments in non-marketable securities by Himax Technologies Limited		1,537			937			600
Purchase of subsidiary shares from minority interest		(602	)		(37	)		(565	)
Refund from refundable deposits		63			62			1
Pledge of restricted cash equivalents and marketable securities		(75	)		(74	)		(1	)
Net cash used in investing activities		(7,985	)		(9,478	)		1,493

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Figures in Thousands of U.S. Dollars)

	Three Months Ended December 31, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Cash flows from financing activities:
Proceeds from initial public offering, net of issuance costs		(392	)		(393	)		1
Acquisition of ordinary shares for retirement		(38,835	)		(38,835	)		---
Net cash used in financing activities		(39,227	)		(39,228	)		1
Effect of exchange rate changes on cash and cash equivalents		19			15			4
Net decrease in cash and cash equivalents		(45,841	)		(45,861	)		20
Cash and cash equivalents at beginning of period		155,594			155,594			---
Cash received from the acquisition of subsidiary		---			20			(20	)
Cash and cash equivalents at end of period	$	109,753		$	109,753			---

Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$	---		$	---		$	---
Income taxes	$	110		$	18		$	92
Supplemental disclosures of non-cash investing and financing activities:
Payable for purchase of equipment and construction in progress	$	2,721		$	4,481		$	(1,760	)

Fair value of common stocks issued by Himax Display, Inc. in the acquisition of Integrated Microdisplays Limited	$	538		$	---		$	538

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Figures in Thousands of U.S. Dollars)

	Twelve Months Ended December 31, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented

Cash flows from operating activities:

Net income	$	75,190		$	75,444		$	(254	)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		5,221			5,410			(189	)
Share-based compensation expenses		15,150			15,150			---
Impairment loss on investments in non-marketable securities		1,500			1,500			---
Loss on disposal of property and equipment		36			36			---
Minority interest, net of tax		(237	)		(242	)		5
Gain on sale of subsidiary shares and investments in non-marketable securities, net		(137	)		(137	)		---
Gain on sale of marketable securities, net		(60	)		(60	)		---
Deferred income taxes		(9,556	)		(9,066	)		(490	)
Inventories write downs		5,165			9,417			(4,252	)
Changes in operating assets and liabilities:
Accounts receivable		(31,934	)		(33,286	)		1,352
Accounts receivable from related parties		(47,566	)		(46,245	)		(1,321	)
Inventories		(1,502	)		(5,755	)		4,253
Prepaid expenses and other current assets		558			751			(193	)
Accounts payable		14,606			14,591			15
Income tax payable		(1,341	)		803			(2,144	)
Other accrued expenses and other current liabilities		4,603			2,863			1,740
Net cash provided by operating activities		29,696			31,174			(1,478	)

Cash flows from investing activities:
Purchase of property and equipment		(17,829	)		(19,270	)		1,441
Purchase of available-for-sales marketable securities		(31,911	)		(31,911	)		---
Sales and maturities of available-for-sale marketable securities		27,128			27,128			---
Purchase of investment in non-marketable securities		(817	)		(1,410	)		593
Cash acquired in acquisition		17			---			17
Proceeds from sale of subsidiary shares and investments in non-marketable securities by Himax Technologies Limited		1,142			1,143			(1	)
Purchase of subsidiary shares from minority interest		(773	)		(208	)		(565	)
Refund from refundable deposits		171			170			1
Release of restricted cash equivalents and marketable securities		13,945			13,946			(1	)
Net cash used in investing activities		(8,927	)		(10,412	)		1,485


Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Figures in Thousands of U.S. Dollars)

	Twelve Months Ended December 31, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Cash flows from financing activities:
Proceeds from initial public offering, net of issuance costs		147,408			147,407			1
Proceeds from issuance of new shares by subsidiaries		676			668			8
Acquisition of ordinary shares for retirement		(38,835	)		(38,835	)		---
Proceeds from borrowing of short-term debt		11,303			11,303			---
Repayment of short-term debt		(38,577	)		(38,577	)		---
Repayment of long-term debt		(89	)		(89	)		---
Net cash provided by financing activities		81,886			81,877			9
Effect of exchange rate changes on cash and cash equivalents		12			8			4
Net Increase in cash and cash equivalents		102,667			102,647			20
Cash and cash equivalents at beginning of year		7,086			7,086			---
Cash received from the acquisition of subsidiary					20			(20	)
Cash and cash equivalents at end of year	$	109,753		$	109,753			---

Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest	$	311		$	311		$	---
Income taxes	$	5,695		$	5,603		$	92
Supplemental disclosures of non-cash investing and financing activities:
Payable for purchase of equipment and construction in progress	$	1,846		$	3,606		$	(1,760	)

Fair value of common stocks issued by Himax Display, Inc. in the acquisition of Integrated Microdisplays Limited	$	538		$	---		$	538

Himax Technologies, Inc.
Unaudited Supplemental Data - Reconciliation Schedule
(Figures in Thousands of U.S. Dollars, Except Per Share Data)

Gross Margin and Operating Margin Excluding Share-based Compensation:

	Three Months Ended December 31, 2006						Changes to the Originally Presented
	As Corrected			As Originally Presented			Changes to the Originally Presented
Revenues	$	220,879		$	220,879		$	---

Gross profit		41,665			41,665			---
Add: Share-based compensation – Cost of revenues		25			25			---
Gross profit excluding share-based compensation		41,690			41,690			---
Gross margin excluding share-based compensation		18.9	%		18.9	%		---

Operating income		22,322			22,765			(443	)
Add: Share-based compensation		1,493			1,493			---
Operating income excluding share-based compensation		23,815			24,258			(443	)
Operating margin excluding share-based compensation		10.8	%		11.0	%		(0.2	%)

*Gross margin excluding share-based compensation equals gross profit excluding share-based compensation divided by revenues
*Operating margin excluding share-based compensation equals operating income excluding share-based compensation divided by revenues

Diluted Earnings Per Share Excluding Share-Based Compensation and Acquisition Related Cost:
	Three Months Ended December 31, 2006				Changes to the Originally Presented
	As Corrected		As Originally Presented		Changes to the Originally Presented
Diluted GAAP EPS	$	0.16	$	0.15	$	0.01
Add: Estimated share-based compensation per diluted share		0.01		0.01		---

Diluted non GAAP EPS excluding share-based compensation	$	0.16	$	0.16	$	---

Numbers do not add up to rounding