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<SEC-DOCUMENT>0000950103-07-000354.txt : 20070213
<SEC-HEADER>0000950103-07-000354.hdr.sgml : 20070213
<ACCEPTANCE-DATETIME>20070212174413
ACCESSION NUMBER:		0000950103-07-000354
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070213
FILED AS OF DATE:		20070213
DATE AS OF CHANGE:		20070212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Himax Technologies, Inc.
		CENTRAL INDEX KEY:			0001342338
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51847
		FILM NUMBER:		07604671

	BUSINESS ADDRESS:	
		STREET 1:		10TH FLOOR, NO. 605, CHUNGSHAN ROAD
		STREET 2:		HSINHUA, TAINAN COUNTY 712
		CITY:			TAIWAN
		STATE:			F5
		ZIP:			-
		BUSINESS PHONE:		866 (6) 505-0880

	MAIL ADDRESS:	
		STREET 1:		10TH FLOOR, NO. 605, CHUNGSHAN ROAD
		STREET 2:		HSINHUA, TAINAN COUNTY 712
		CITY:			TAIWAN
		STATE:			F5
		ZIP:			-
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp04688_6k.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<HR align="center" width="100%" size="4" noshade color="#000000">
<HR align="center" width="100%" size="1" noshade color="#000000">
<P align="center">
  <STRONG><FONT SIZE="3" FACE="Times New Roman, Times, serif">FORM 6-K<br>
</FONT><FONT size=3 face="Times New Roman, Times, serif">SECURITIES
    AND EXCHANGE COMMISSION<BR>
  Washington, D.C. 20549</FONT></STRONG></P>
<P align="center">
  <STRONG><FONT size=3 face="Times New Roman, Times, serif">Report of Foreign Issuer<BR>
  <br>
  </FONT></STRONG>  <STRONG><FONT size=3 face="Times New Roman, Times, serif">Pursuant to Rule
  13a-16 or 15d-16<br>
  of the Securities Exchange Act of 1934<br>
  <br>
  </FONT></STRONG>
  <FONT size=2 face="Times New Roman, Times, serif">For the month of February,
  2007</FONT></P>
<P align="center"><FONT size=2 face="Times New Roman, Times, serif">Commission File Number: 000-51847</FONT></P>
<P align="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif"><B><FONT size="4">Himax Technologies, Inc.</FONT></B><BR>
(Translation of registrant&#146;s name into English) </FONT></P>
<P align="center"><FONT SIZE="2" FACE="Times New Roman, Times, serif">  <STRONG> No.26, Zih Lian Road, Fonghua Village,
<br>
Sinshih Township, Tainan County 744,<br>
Taiwan, Republic of China
</STRONG><BR>
  (Address of principal executive offices)<BR>
</FONT></P>
<blockquote>
    <blockquote>
      <p><font size="2" face="Times New Roman, Times, serif">Indicate by check
          mark whether the registrant files or will file annual reports under
          cover of Form 20-F or Form 40-F:</font></p>
  </blockquote>
  <div align=center>
    <table width="50%" border=0 cellpadding=0 cellspacing=0>
      <tr align="center">
        <td width="25%" align="right" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">Form
            20-F <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u> </font></td>
        <td width="50%" align="left" valign="top"></td>
        <td width="25%" align="left" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">Form
            40-F <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
      </tr>
    </table>
  </div>
  <blockquote>
    <p><font size="2" face="Times New Roman, Times, serif">
 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):

</font></p>
  </blockquote>
  <div align=center>
    <table width="50%" border=0 cellpadding=0 cellspacing=0>
      <tr align="center">
        <td width="25%" align="right" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
        <td width="50%" align="left" valign="top"></td>
        <td width="25%" align="left" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></td>
      </tr>
    </table>
    <blockquote>
      <p align="left"><font size="2" face="Times New Roman, Times, serif">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): </font></p>
      <table width="50%" border=0 cellpadding=0 cellspacing=0>
        <tr align="center">
          <td width="25%" align="right" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
          <td width="50%" align="left" valign="top"></td>
          <td width="25%" align="left" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></td>
        </tr>
      </table>
      <p align="left"><font size="2" face="Times New Roman, Times, serif">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:</font></p>
      <table width="50%" border=0 cellpadding=0 cellspacing=0>
        <tr align="center">
          <td width="25%" align="right" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
          <td width="50%" align="left" valign="top"></td>
          <td width="25%" align="left" valign="top" nowrap><font size="2" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></td>
        </tr>
      </table>
      <p align="left"><font size="2" face="Times New Roman, Times, serif">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):  <U>&nbsp;N/A&nbsp;</U></font></p>
    </blockquote>
  </div>
</blockquote>
<hr align="center" width="100%" size="1" noshade color="#000000">
<hr align="center" width="100%" size="4" noshade color="#000000">
<br>
<br>
<PAGE>
<br>
<br>
<TABLE WIDTH="95%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD width=5%> </TD>
    <TD width=2%> </TD>
    <TD width=79%> </TD>
    <TD width=2%> </TD>
    <TD width=10%> </TD>
  </TR>
  <TR valign="bottom">
    <TD nowrap colspan=1 align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD nowrap colspan=1 align=CENTER> <font size="2">Himax Technologies, Inc.</font></TD>
    <TD>&nbsp; </TD>
    <TD nowrap colspan=1 align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD colspan=5>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD nowrap colspan=1 align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD nowrap colspan=1 align=CENTER> <FONT SIZE="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">INDEX
        TO EXHIBITS</FONT></TD>
    <TD>&nbsp; </TD>
    <TD nowrap colspan=1 align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD colspan=5>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan=1 align=CENTER nowrap><B><u><FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exhibit</FONT></u></B></TD>
    <TD><FONT SIZE="1">&nbsp;</FONT> <FONT SIZE="1">&nbsp;</FONT> <FONT SIZE="1">&nbsp;</FONT> </TD>
    <TD colspan=1 align=left nowrap><FONT SIZE="1">&nbsp;</FONT> <FONT SIZE="1">&nbsp;</FONT> <FONT SIZE="1">&nbsp;</FONT> </TD>
    <TD><FONT SIZE="1">&nbsp;</FONT> <FONT SIZE="1">&nbsp;</FONT> <FONT SIZE="1">&nbsp;</FONT> </TD>
    <TD colspan=1 align=center nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=5>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan=1 align=center VALIGN="top"><FONT size="2" face="serif">99.1</FONT></TD>
    <TD valign="top">&nbsp;</TD>
    <TD colspan=3 align=left VALIGN="top"><FONT face="serif" size="2">Press release
        entitled, &#147;Himax reports fourth quarter and full year 2006 results&#148; dated
    February 13, 2007.</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD colspan=1 align=center VALIGN="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD colspan=3 align=left VALIGN="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan=1 align=center VALIGN="top"><FONT face="serif" size="2">99.2</FONT></TD>
    <TD valign="top">&nbsp;</TD>
    <TD colspan=3 align=left VALIGN="top"><FONT face="serif" size="2">Himax fourth
    quarter 2006 results conference call transcript dated February 13, 2007.</FONT> </TD>
  </TR>
</TABLE>
<div align="center">     <br>
    <BR>
<font size="2">2</font></div>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>

<div align="center"><FONT FACE="Times New Roman, Times, serif"><br>
</FONT><FONT SIZE="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><strong>SIGNATURES</strong></FONT></div>
<P align="left"> <FONT SIZE="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</FONT></P>
<div align=right>
     <TABLE WIDTH="40%" border=0 cellpadding=0 cellspacing=0>
          <TR>
               <TD width=11%> </TD>
               <TD width=3%> </TD>
               <TD width=86%> </TD>
          </TR>
          <TR ALIGN="LEFT" valign="bottom">
               <TD nowrap colspan=3> <FONT SIZE="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">HIMAX
                         TECHNOLOGIES, INC.</FONT></TD>
          </TR>
          <TR>
               <TD colspan=3>&nbsp; </TD>
          </TR>
          <TR valign="bottom">
               <TD nowrap align=left> <FONT SIZE="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT><FONT SIZE="2">&nbsp;</FONT></TD>
               <TD nowrap align=left>&nbsp;</TD>
               <TD nowrap align=left><FONT SIZE="2" face="Times New Roman, Times, serif">/s/
                         Max Chan</FONT></TD>
          </TR>
          <TR valign="bottom">
               <TD nowrap colspan=1 align=left>&nbsp;</TD>
               <TD>&nbsp;</TD>
               <TD nowrap colspan=1 align=left><hr align="left" width="60%" size=1 noshade>
               </TD>
          </TR>
          <TR valign="bottom">
               <TD nowrap colspan=1 align=left> <FONT SIZE="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name:</FONT></TD>
               <TD>&nbsp; </TD>
               <TD nowrap colspan=1 align=left> <FONT SIZE="2" face="Times New Roman, Times, serif">Max
                         Chan</FONT><FONT SIZE="2">&nbsp;</FONT></TD>
          </TR>
          <TR valign="bottom">
               <TD nowrap colspan=1 align=left> <FONT SIZE="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title:</FONT></TD>
               <TD>&nbsp; </TD>
               <TD nowrap colspan=1 align=left> <FONT SIZE="2" face="Times New Roman, Times, serif">Chief
                         Financial Officer</FONT></TD>
          </TR>
     </TABLE>
</DIV>
<BR>
<P align="left"> <FONT SIZE="2" face="Times New Roman, Times, serif">Date: February
    13, 2007</FONT></P>
<P align="center">
     <FONT SIZE="2" face="Times New Roman, Times, serif">3</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>


<P align="right"><br>
  <B><FONT size=2 face="sans-serif">Exhibit 99.1</FONT></B></P>
<P align="center"><img src="logo.jpg" width="328" height="97"></P>
<P align="center"><B><FONT face="sans-serif">HIMAX REPORTS FOURTH QUARTER AND FULL YEAR 2006 RESULTS</FONT></B></P>
<P align="left">
<B><FONT size=2 face="sans-serif"><br>
Tainan, Taiwan, February 13, 2007 </FONT></B><FONT size=2 face="sans-serif">- Himax Technologies, Inc. (&#147;Himax&#148; or &#148;Company&#148;) (Nasdaq: HIMX) today reported financial results for the fourth
quarter and full year ended December 31, 2006.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Net revenue for the fourth quarter of 2006 was &#36;220.9 million, compared to &#36;177.3 million for the fourth quarter of 2005, and &#36;177.1 million in the third quarter of 2006. Net income for the fourth quarter
of 2006 was &#36;29.4 million, or &#36;0.15 per diluted share, compared to net income of &#36;17.0 million, or &#36;0.09 per diluted share in the fourth quarter of 2005, and &#36;4.6 million, or &#36;0.02 per diluted share in the third quarter of
2006. Share-based compensation was &#36;1.5 million, &#36;4.1 million and &#36;11.5 million in the fourth quarter of 2006, the fourth quarter of 2005 and the third quarter of 2006, respectively.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Gross margin in the fourth quarter of 2006 was 18.9%, as compared to 21.2% in the fourth quarter of 2005, and 17.4% in the third quarter of 2006. Operating margin was 10.3% in the fourth quarter of 2006, as compared to
10.8% in the fourth quarter of 2005, and 1.5% in the third quarter of 2006.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Excluding share-based compensation, gross margin was 18.9% in the fourth quarter of 2006, 21.3% in the fourth quarter of 2005, and 17.5% in the third quarter of 2006, with an operating margin of 11.0%, 13.1%, and 8.0%,
respectively.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">A reconciliation of our gross margin and operating margin excluding share-based compensation, a non-GAAP financial measure, to GAAP gross margin and GAAP operating margin, our most comparable GAAP figure, is set out in
the attached reconciliation schedule.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Jordan Wu, President and Chief Executive Officer of Himax, commented, &#147;We are pleased with our fourth quarter results, as our revenue and net income were both record highs since our inception. 2006 was also a
remarkable year for Himax. Our revenue of 2006 increased 37.8% compared to the prior year, despite a challenging environment faced by the TFT LCD industry. Moreover, we continued to gain market share. According to iSuppli, our world wide market
share for large application in 2006 was approximately 19.6% in 2006, a significant improvement from 15.9% in 2005.&#148;</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Max Chan, Chief Financial Officer of Himax, said, &#147;Our gross margin increased to 18.9% from 17.4% a quarter ago. We were able to achieve cost reductions which more than offset the pricing pressure that we faced in
the quarter. Furthermore, small- and medium-sized driver ICs, which typically enjoy a higher gross margin, accounted for approximately 11% of our revenue in the period, up from approximately 9% of our revenue a quarter ago. Total share-based
compensation accrued in the fourth quarter was approximately &#36;1.5 million, or &#36;0.01 per diluted share, as compared to &#36;11.5 million, or &#36;0.06 in the third quarter.&#148;</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Looking forward, Mr. Wu added, &#147;For the first quarter of 2007, we expect overall revenue will decline approximately 16% to 18% compared to the fourth quarter of 2006. We expect demand for PC-related and TV panels
to decline significantly due to seasonality and customers&#146; control on capacity utilization. However, we expect small- and medium-sized demand will continue to grow as</FONT></P>
<P align="center">
<FONT size=2 face="serif">1</FONT></P>

<br>
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<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
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<br>
<br>




<P align="left">
<FONT size=2 face="sans-serif">we are adding new customers and products. We expect our gross margin to remain flat; diluted GAAP EPS is expected to decline to the range of &#36;0.08 to &#36;0.09. &#148;</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">In the first quarter of 2007, Himax announced closing of Wisepal acquisition. Starting the first quarter the company will be reporting our result on a consolidated basis, including Wisepal. Mr. Wu commented, &#147;We
are very pleased with the progress of integration of both companies so far, and we believe this acquisition will greatly strengthen our position in the small- and medium-sized applications.&#148;</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Separately, Himax has completed the share buyback program which the company announced to the market on November 2nd. Since then, a total of approximately 10 million of the company&#146;s American Depository Shares have
been repurchased from the open market. The repurchased ADSs and their underlying ordinary shares have been cancelled, thereby reducing approximately 5% of the Company&#146;s issued and outstanding shares.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">A reconciliation of our diluted EPS excluding share-based compensation, a non-GAAP financial measure, to diluted GAAP EPS, our most comparable GAAP figure, is set out in the attached reconciliation schedule.</FONT></P>
<P align="left">
<B><FONT face="sans-serif">Investor Conference Call / Webcast Details</FONT></B></P>
<P align="left">
<FONT size=2 face="sans-serif">The Company&#146;s management will review detailed fourth quarter 2006 results on Monday, February 12, 2007 at 6:00 PM EST (7:00 AM, February 13, Taiwan time). The conference call-in number is +1-201-689-8560
(international) and +1-877-407-0784 (U.S. domestic). A live webcast of the conference call will be available on the Company&#146;s website at </FONT><U><FONT size=2 face="sans-serif">www.himax.com.tw</FONT></U><FONT size=2 face="sans-serif">. The
playback will be available beginning two hours after the conclusion of the conference call and will be accessible by dialing +1-201-612-7415 (international) and 1-877-660-6853 (U.S. domestic). The account number to access the replay is 3055 and the
confirmation ID number is 228265.</FONT></P>
<P align="left">
<B><FONT size=2 face="sans-serif">About Himax Technologies, Inc. <br>
</FONT></B><FONT size=2 face="sans-serif">Himax
Technologies, Inc. designs, develops and markets semiconductors that are critical
components of flat panel displays. The Company&#146;s principal products are
display drivers for large-sized TFT-LCD panels, which are used in desktop monitors,
notebook computers and televisions, and display drivers for small- and medium-sized
TFT-LCD panels, which are used in mobile handsets and consumer electronics products
such as digital cameras, mobile gaming devices and car navigation displays. In
addition, the Company is expanding its product offering to include LCD TV chipset
solutions and LCOS microdisplays. Based in Tainan, Taiwan, the Company has regional
offices in Hsinchu and Taipei, Taiwan; Suzhou and Shenzhen, China; Yokohama,
Japan and Anyangsi Kyungkido, South Korea.</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
        <TD align=left width=32%>
<B><FONT size=2 face="sans-serif">Contacts:</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>&nbsp; </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">Max Chan</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">Jackson Ko</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<U><FONT size=2 face="sans-serif">In the U.S.</FONT></U>        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">Chief Financial Officer</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">Investor Relations</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">David Pasquale</FONT>    </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">The Ruth Group</FONT>    </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">+886-2-3393-0877 Ext. 22300</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%> <FONT size=2 face="sans-serif">+</FONT><FONT size=2 face="sans-serif">886-2-3393-0877 Ext. 22240</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">646-536-7006</FONT>      </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">max_chan@himax.com.tw</FONT>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">jackson_ko@himax.com.tw</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=left width=32%>
<FONT size=2 face="sans-serif">dpasquale@theruthgroup.com</FONT>        </TD>
</TR>
</TABLE>
<BR>
<P align="left">
<B><FONT size=2 face="sans-serif">Forward-Looking Statements:<br>
</FONT></B><FONT size=2 face="sans-serif">Certain
statements in this press release, including statements regarding expected future
financial results and industry growth, are forward-looking statements that involve
a number of risks and uncertainties that could cause actual events or results
to differ materially from those described in this press release. Factors that
could cause actual results to differ include general business and economic conditions
and the state of the semiconductor industry; level of competition; demand for
end-use applications products; reliance on a small group of principal customers;
continued success in technological innovations; development of alternative flat
panel display technologies; ability to develop and protect our intellectual property;
pricing pressures including declines in average selling prices; changes in customer
order patterns; shortages in supply of key components; changes in environmental
laws and regulations; exchange rate fluctuations; regulatory approvals for further
investments in our subsidiaries; and other risks described from time to time
in the Company&#146;s SEC filings, including its Form F-1 dated March 13, 2006,
as amended. We undertake no obligation to</FONT></P>
<P align="center">
<FONT size="2" face="serif">2</FONT></P>

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<P align="left">
<FONT size=2 face="sans-serif">publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.</FONT></P>
<P align="center">
<B><FONT size=2 face="sans-serif">&#150; Tables Attached &#150;</FONT></B></P>
<P align="center">
<FONT size="2" face="serif">3</FONT></P>

<br>
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<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
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<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.<br>
</FONT></B><B><FONT size=2 face="sans-serif">Unaudited Condensed Consolidated Statements of Income</FONT></B></P>
<P align="center">
<B><FONT size=2 face="sans-serif">(These interim financials do not fully comply
with US GAAP because they omit all interim disclosure required by US GAAP.)<br>
(Figures
in Thousands of U.S. Dollars, Except Per Share Data)</FONT></B></P>
<TABLE width=95% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center><B><FONT size=2 face="sans-serif">Three</FONT></B></TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center><B><FONT size=2 face="sans-serif">Months</FONT></B></TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center><B><FONT size=2 face="sans-serif">Ended</FONT></B></TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="7" align=center GUTTER>    <B><FONT size=2 face="sans-serif">Three Months</FONT></B></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center><B><FONT size=2 face="sans-serif">September</FONT></B></TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="7" align=center GUTTER>    <B><FONT size=2 face="sans-serif">Ended
    December 31,</FONT></B></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center><B><FONT size=2 face="sans-serif">30,</FONT></B></TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=center>
<B><FONT size=2 face="sans-serif">2006</FONT></B></TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=center>
<B><FONT size=2 face="sans-serif">2005</FONT></B></TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center GUTTER>
      <B><FONT size=2 face="sans-serif">2006</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Revenues</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Revenues from third parties, net</FONT>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>
<FONT size=2 face="sans-serif"></FONT>  </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;91,920</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>
<FONT size=2 face="sans-serif"></FONT>  </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;78,696</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>
<FONT size=2 face="sans-serif"></FONT>  </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;89,044</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Revenues from related parties, net</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">128,959</FONT>   </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">98,638</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">88,061</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">220,879</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">177,334</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">177,105</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR>
        <TD width="64%">&nbsp;  </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Costs and expenses:</FONT></B>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Cost of revenues</FONT>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">179,214</FONT>   </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">139,664</FONT>   </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">146,287</FONT>   </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Research and development</FONT>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">13,642</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">13,957</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">22,685</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">General and administrative</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">3,108</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,556</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">3,027</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Sales and marketing</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,150</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,018</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,364</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Total costs and expenses</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">198,114</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">158,195</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">174,363</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR>
        <TD width="64%">&nbsp;  </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Operating income</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">22,765</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">19,139</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">2,742</FONT></B>      </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR>
        <TD width="64%">&nbsp;  </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Non operating income (loss):</FONT></B>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<FONT size=2 face="sans-serif">Interest income</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">1,812</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">323</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,000</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<FONT size=2 face="sans-serif">Impairment loss on an investment</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">---</FONT>       </TD>

        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(129</FONT>      </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<FONT size=2 face="sans-serif">Foreign exchange gains (losses), net</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">356</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">135</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(1,298</FONT>    </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<FONT size=2 face="sans-serif">Interest expense</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(114</FONT>      </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<FONT size=2 face="sans-serif">Other income (loss), net</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">61</FONT>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(92</FONT>       </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">59</FONT>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,229</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">123</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">761</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Income before income taxes and minority</FONT></B>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">24,994</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">19,262</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">3,503</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">interest</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Income tax (benefit) expense</FONT></B>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(4,211</FONT>    </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,313</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(1,246</FONT>    </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Income before minority interest</FONT></B>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">29,205</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">16,949</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">4,749</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Minority interest, net of tax</FONT></B>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">183</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">31</FONT>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(157</FONT>      </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Net income</FONT></B> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>
<B><FONT size=2 face="sans-serif"></FONT></B>   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;29,388</FONT></B>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>
<B><FONT size=2 face="sans-serif"></FONT></B>   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;16,980</FONT></B>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;4,592</FONT></B> </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
</TR>
<TR>
        <TD width="64%">&nbsp;  </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Basic earnings per ordinary share and ADS</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.15</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.10</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.02</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
  <TD width="64%"></TD>
  <TD width="2%"></TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="8%"><HR noshade size=2>  </TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="2%"></TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="8%"><HR noshade size=2>  </TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="2%"></TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="8%"><HR noshade size=2>  </TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Diluted earnings per ordinary share and ADS</FONT></B>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.15</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.09</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.02</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
  <TD width="64%"></TD>
  <TD width="2%"></TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="8%"><HR noshade size=2>  </TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="2%"></TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="8%"><HR noshade size=2>  </TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="2%"></TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
  <TD width="8%"><HR noshade size=2>  </TD>
  <TD width="1%" GUTTER><HR noshade size=2>  </TD>
</TR>
<TR>
        <TD width="64%">&nbsp;  </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Basic Weighted Average Outstanding Shares</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">198,147</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">176,854</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">197,110</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">Diluted Weighted Average Outstanding Shares</FONT></B>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">199,518</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">180,707</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">199,729</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size="2" face="serif">4</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>




<TABLE width=95% border=0 cellpadding=0 cellspacing=0>

<TR valign="bottom">
        <TD align=center colspan=13>
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT></B>   </TD>
</TR>
<TR valign="bottom">
        <TD align=center colspan=13>
<B><FONT size=2 face="sans-serif">Unaudited Supplemental Financial Information</FONT></B>       </TD>
</TR>
<TR valign="bottom">
        <TD align=center colspan=13>
<B><FONT size=2 face="sans-serif">(Figures in Thousands of U.S. Dollars)</FONT></B>     </TD>
</TR>
<TR>
        <TD colspan=13>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center>
      <B><FONT size=2 face="sans-serif">Three</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center>
      <B><FONT size=2 face="sans-serif">Months</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center>
      <B><FONT size=2 face="sans-serif">Ended</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=center colspan=7>
<B><FONT size=2 face="sans-serif">Three Months</FONT></B></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center>
      <B><FONT size=2 face="sans-serif">September</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=64% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=center colspan=7>
<B><FONT size=2 face="sans-serif">Ended December 31,</FONT></B></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="3" align=center>
      <B><FONT size=2 face="sans-serif">30,</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">The amount of share-based compensation</FONT></B>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">included in applicable costs and expenses</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<B><FONT size=2 face="sans-serif">categories is summarized as follows:</FONT></B>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=center>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
        <TD  width=1% align="center">&nbsp;</TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD width=1% align=center>&nbsp;</TD>
        <TD width=8% align=center>
<B><FONT size=2 face="sans-serif">2005</FONT></B>       </TD>
        <TD  width=1% align="center">&nbsp;</TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD colspan="3" align=center>
      <B><FONT size=2 face="sans-serif">2006</FONT></B></TD>
  </TR>
<TR>
        <TD width="64%">
<HR noshade size=1>     </TD>
        <TD width="2%"><HR noshade size=1></TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="2%"> </TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="2%"> </TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
    <TD width="1%"><HR noshade size=1></TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<FONT size=2 face="sans-serif">Share-based compensation</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left>&nbsp;</TD>
        <TD width=8% align=left>&nbsp;  </TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">Cost of revenues</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;25</FONT>   </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;89</FONT>   </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;208</FONT>  </TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">Research and development</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">1,161</FONT>     </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">3,033</FONT>     </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">8,963</FONT>     </TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">General and administrative</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">151</FONT>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">380</FONT>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">1,090</FONT>     </TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">Sales and marketing</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">156</FONT>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">628</FONT>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">1,195</FONT>     </TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="8%"><HR noshade size=1>    </TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="2%"></TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="8%"><HR noshade size=1>    </TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="2%"></TD>
        <TD width="1%"><HR noshade size=1></TD>
        <TD width="8%"><HR noshade size=1>    </TD>
        <TD width="1%"><HR noshade size=1></TD>
</TR>
<TR valign="bottom">
        <TD width=64% align=left>
<FONT size=2 face="sans-serif">Total</FONT>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;1,493</FONT>        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;4,130</FONT>        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right>&nbsp;</TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">&#36;11,456</FONT>       </TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%"><HR noshade size=2></TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%"><HR noshade size=2></TD>
        <TD width="2%"> </TD>
        <TD width="1%"><HR noshade size=2></TD>
        <TD width="8%"><HR noshade size=2></TD>
        <TD width="1%"><HR noshade size=2></TD>
        <TD width="2%"> </TD>
        <TD width="1%"><HR noshade size=2></TD>
        <TD width="8%"><HR noshade size=2></TD>
    <TD width="1%"><HR noshade size=2></TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size="2" face="serif">5</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>




<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT></B></P>
<P align="center">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT size=2 face="sans-serif">Unaudited Condensed Consolidated Statements of Income <br>
(Figures in Thousands of U.S. Dollars, Except Per Share Data)</FONT></B></P>
<TABLE width=95% border=0 cellpadding=0 cellspacing=0>

<TR valign="bottom">
        <TD width=76% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="7" align=center GUTTER>
      <B><FONT size=2 face="sans-serif">Twelve Months Ended</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=76% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD colspan="7" align=center GUTTER>    <B><FONT size=2 face="sans-serif">December
 31,</FONT></B></TD>
  </TR>
<TR valign="bottom">
        <TD width=76% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=center GUTTER>&nbsp; </TD>
        <TD width=8% align=center>
<B><FONT size=2 face="sans-serif">2006</FONT></B></TD>
        <TD width=1% align=center GUTTER>&nbsp; </TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD width=1% align=center GUTTER>&nbsp; </TD>
        <TD width=8% align=center>
<B><FONT size=2 face="sans-serif">2005</FONT></B></TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Revenues</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Revenues from third parties, net</FONT>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;331,025</FONT></B>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;217,420</FONT></B>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Revenues from related parties, net</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">413,493</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">322,784</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">744,518</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">540,204</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR>
        <TD colspan=9>&nbsp;    </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Costs and expenses:</FONT></B>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Cost of revenues</FONT>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">601,565</FONT>   </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">419,380</FONT>   </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Research and development</FONT>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">58,832</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">41,278</FONT>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">General and administrative</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">9,527</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">6,784</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Sales and marketing</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">6,618</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">4,762</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Total costs and expenses</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">676,542</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">472,204</FONT></B>    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR>
        <TD colspan=9>&nbsp;    </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Operating income</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">67,976</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">68,000</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR>
        <TD colspan=9>&nbsp;    </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Non operating income (loss):</FONT></B>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<FONT size=2 face="sans-serif">Interest income</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">5,860</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">580</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<FONT size=2 face="sans-serif">Impairment loss on an investment</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(1,500</FONT>    </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(129</FONT>      </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<FONT size=2 face="sans-serif">Foreign exchange gains, net</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">224</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">1,808</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<FONT size=2 face="sans-serif">Interest expense</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(311</FONT>      </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">(125</FONT>      </TD>
        <TD width=1% align=left GUTTER>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<FONT size=2 face="sans-serif">Other income, net</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">233</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">124</FONT>       </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">4,506</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<FONT size=2 face="sans-serif">2,258</FONT>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Income before income taxes and</FONT></B>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=left>&nbsp;  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
 &nbsp; &nbsp;<B><FONT size=2 face="sans-serif">minority interest</FONT></B>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">72,482</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">70,258</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Income tax (benefit) expense</FONT></B>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">(2,720</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>
<B><FONT size=2 face="sans-serif">)</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">8,923</FONT></B>      </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Income before minority interest</FONT></B>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">75,202</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">61,335</FONT></B>     </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Minority interest, net of tax</FONT></B>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">242</FONT></B>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">223</FONT></B>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Net income</FONT></B> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;75,444</FONT></B>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;61,558</FONT></B>        </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
</TR>
<TR>
        <TD colspan=9>&nbsp;    </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Basic earnings per ordinary share and ADS</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.39</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.35</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
</TR>
<TR valign="bottom">
        <TD width=76% align=left>
<B><FONT size=2 face="sans-serif">Diluted earnings per ordinary share and ADS</FONT></B>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.39</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD width=1% align=right GUTTER>&nbsp;</TD>
        <TD width=8% align=right>
<B><FONT size=2 face="sans-serif">&#36;0.34</FONT></B>  </TD>
        <TD width=1% align=left GUTTER>&nbsp;   </TD>
</TR>
<TR>
        <TD width="76%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size="2" face="serif">6</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>


<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT></B><BR>
<B><FONT size=2 face="sans-serif">Unaudited Condensed Consolidated Balance Sheets</FONT></B><BR>
<B><FONT size=2 face="sans-serif">(Figures in Thousands of U.S. Dollars)</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
        <TD align=left width=65%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">Dec 31,</FONT></B>
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=2%>&nbsp;</TD>
        <TD align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">Sep 30,</FONT></B>
        </TD>
        <TD  width=1% align="center">&nbsp;</TD>
        <TD  width=2% align="center">&nbsp;
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">Dec 31,</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=2%>&nbsp;</TD>
        <TD align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>
        </TD>
        <TD  width=1% align="center">&nbsp;</TD>
        <TD  width=2% align="center">&nbsp;
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2005</FONT></B>
        </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Assets</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>

</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Current assets:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Cash and cash equivalents</FONT>
        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;109,753</FONT>      </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;155,594</FONT>      </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;7,086</FONT>        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Marketable securities available-for-sale</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">8,828</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">4,072</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">3,989</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Restricted cash equivalents and marketable</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">securities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">108</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">31</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">14,053</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Accounts receivable, less allowance for sales</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">returns and discounts</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">113,521</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">101,660</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">80,158</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Accounts receivable from related parties</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">116,096</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">71,530</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">69,688</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Inventories</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">101,341</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">106,977</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">105,004</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Deferred income taxes</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">6,721</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">11,202</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">8,965</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Prepaid expenses and other current assets</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">10,404</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">20,622</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">11,113</FONT>
        </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Total current assets</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;466,772</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;471,688</FONT></B>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;300,056</FONT></B>       </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Property and equipment, net</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">41,918</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">34,946</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">24,426</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Deferred income taxes</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">11,454</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">134</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">151</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Intangible assets, net</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">393</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">61</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">81</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Investments in non-marketable securities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">817</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,723</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,813</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Refundable deposits</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">550</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">603</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">712</FONT>
        </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">55,132</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">37,467</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">27,183</FONT>
        </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Total assets</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;
 </TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;521,904</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;509,155</FONT></B>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;327,239</FONT></B>       </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Liabilities, minority interest and</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">stockholders&#146; equity</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Current liabilities:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Short-term debt</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;---</FONT>  </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;---</FONT>  </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;27,274</FONT>       </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Current portion of long-term debt</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">89</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Accounts payable</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">120,407</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">106,829</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">105,801</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Income tax payable</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">14,385</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">11,783</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">13,625</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Other accrued expenses and other current</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">liabilities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">21,274</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">16,029</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">13,995</FONT>
        </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Total current liabilities</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;156,066</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;134,641</FONT></B>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;160,784</FONT></B>       </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Other liabilities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">191</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Total liabilities</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;156,257</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;134,641</FONT></B>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;160,784</FONT></B>       </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Minority interest</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;1,397</FONT></B> </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;1,054</FONT></B> </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;624</FONT></B>   </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Stockholders&#146; equity:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Ordinary share, US&#36;0.0001 par value,</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">500,000,000 shares authorized</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">19</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">19</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">18</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Additional paid-in capital</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">221,666</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">260,031</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">98,450</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Accumulated other comprehensive income</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(207</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">27</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">36</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<FONT size=2 face="sans-serif">Unappropriated earnings</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">142,772</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">113,383</FONT>
        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">67,327</FONT>
        </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Total stockholders&#146; equity</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;364,250</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;373,460</FONT></B>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;165,831</FONT></B>       </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%>
<B><FONT size=2 face="sans-serif">Total liabilities, minority interest and</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=65%><B><FONT size=2 face="sans-serif">stockholders&#146; equity</FONT></B> </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD align=right width=1%>&nbsp;
 </TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;521,904</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD align=right width=2%>&nbsp;</TD>
        <TD align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;509,155</FONT></B>       </TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;327,239</FONT></B>       </TD>
</TR>
<TR>
        <TD width="65%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right">
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="2%" align="right">&nbsp;</TD>
        <TD width="1%" align="right">
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="1%"></TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size="2" face="serif">7</FONT></P>


<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>


<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT></B><BR>
<B><FONT size=2 face="sans-serif">Unaudited Condensed Consolidated Statements of Cash Flows </FONT></B><BR>
<B><FONT size=2 face="sans-serif">(Figures in Thousands of U.S. Dollars)</FONT></B></P>
<BR>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD width=64% align=left>&nbsp;</TD>
  <TD  width=2%>&nbsp;</TD>
  <TD colspan="6" align=center GUTTER><b><font size=2 face="sans-serif">Three
        Months<br>
  </font></b><b><font size=2 face="sans-serif">Ended December 31,</font></b> </TD>
  <TD width=1% align=left GUTTER>&nbsp;</TD>
  <TD  width=2%>&nbsp;</TD>
  <TD width=1% align=right GUTTER>&nbsp;</TD>
  <TD width=8% align=center nowrap><b><font size=2 face="sans-serif">Three<br>
    Months<br>
  </font></b><b><font size=2 face="sans-serif">Ended<br>
  </font></b><b><font size=2 face="sans-serif">September</font></b> <b><font size=2 face="sans-serif">30,</font></b> </TD>
  <TD width=1% align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2005</FONT></B>       </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Cash flows from operating activities:</FONT></B>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Net income</FONT></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;29,388</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;16,980</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;4,592</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Adjustments to reconcile net income to net cash provided</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">(used in) by operating activities:</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Depreciation and amortization</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,869</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">942</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,119</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Share-based compensation expenses</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,493</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">4,130</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">11,456</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Minority interest, net of tax</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(183</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(31</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">157</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Gain on sale of marketable securities, net</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(61</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">89</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(23</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Impairment loss on an investment</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">129</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Deferred income taxes</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(6,842</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(2,110</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">132</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Inventories write down</FONT>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">2,691</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">708</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">469</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Changes in operating assets and liabilities:</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Accounts receivable</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(11,840</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(24,561</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(14,772</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Accounts receivable from related parties</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(44,346</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(6,663</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(5,096</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Inventories</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">6,885</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(27,581</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(7,838</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Prepaid expenses and other current assets</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">6,285</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(5,768</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(4,497</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Accounts payable</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">13,563</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(1,731</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">8,815</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Income tax payable</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">2,601</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">4,485</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(1,075</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Other accrued expenses and other current liabilities</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,327</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">3,690</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">3,477</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="sans-serif">Net cash provided by (used in) operating activities</FONT></B>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">2,830</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(37,292</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(3,084</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Cash flows from investing activities:</FONT></B>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of land, property and equipment</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(5,628</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(1,746</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(5,691</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of available-for-sales marketable securities</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(12,678</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(10,608</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Sales and maturities of available-for-sale marketable</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">securities</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">7,940</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,442</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">8,480</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Proceeds from sale of subsidiary shares by Himax</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Technologies Limited</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">937</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">51</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">27</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of investments in non-marketable securities</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(1,410</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of subsidiary shares from minority interest</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(37</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(457</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(64</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Return of (increase in) refundable deposits</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">62</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(364</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(92</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">Release (pledge) of restricted cash equivalents and</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp;<FONT size=2 face="sans-serif">marketable securities</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(74</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(13,614</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">424</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities</FONT></B>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(9,478</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(14,688</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(8,934</FONT>    </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size="2" face="serif">8</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>

<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.<br>
</FONT></B><B><FONT size=2 face="sans-serif">Unaudited Condensed Consolidated Statements of Cash Flows <br>
(Figures in Thousands of U.S. Dollars)</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align=center GUTTER><b><font size=2 face="sans-serif">Three
          Months<br>
    </font></b><b><font size=2 face="sans-serif">Ended December 31,</font></b> </TD>
    <TD align=left GUTTER>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right GUTTER>&nbsp;</TD>
    <TD align=center nowrap><b><font size=2 face="sans-serif">Three<br>
    Months<br>
      </font></b><b><font size=2 face="sans-serif">Ended<br>
    </font></b><b><font size=2 face="sans-serif">September</font></b> <b><font size=2 face="sans-serif">30,</font></b> </TD>
    <TD align=left GUTTER>&nbsp;</TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2005</FONT></B>       </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Cash flows from financing activities:</FONT></B></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Proceeds from issuance of ordinary
 shares</FONT></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(393</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(14,487</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Proceeds from issuance of new shares by subsidiaries</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">866</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">655</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Shares buyback for canceling</FONT>        </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(38,835</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Proceeds from short-term debt</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">27,274</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Repayment of long-term debt</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(42</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="sans-serif">Net cash provided (used in) by financing activities</FONT></B>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(39,228</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">13,611</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">655</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Effect of exchange rate changes on cash and cash</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">equivalents</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">15</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">4</FONT> </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">73</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>

        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Net decrease in cash and cash equivalents</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(45,861</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(38,365</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(11,290</FONT>   </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT> </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Cash and cash equivalents at beginning of period</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">155,594</FONT>   </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">45,451</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">166,884</FONT>   </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Cash received from the acquisition of subsidiary</FONT></B>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">20</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>     </TD>
        <TD width="8%">
<HR noshade size=1>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>     </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Cash and cash equivalents at end of period</FONT></B> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;109,753</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;7,086</FONT></B> </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;155,594</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
        <TD width="64%">        </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="2%"> </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=2>     </TD>
        <TD width="8%">
<HR noshade size=2>     </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>     </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Supplemental disclosures of cash flow information:</FONT></B> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Cash paid during the period for:</FONT>    </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">Interest</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;---</FONT></B>   </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;114</FONT></B>   </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;---</FONT></B>   </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">Income taxes</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;18</FONT></B>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;13</FONT></B>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;21</FONT></B>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">Supplemental disclosures of non-cash investing</FONT></B>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<B><FONT size=2 face="sans-serif">and financing activities:</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Increase (Decrease) in payable for purchase of</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=left width=8%>&nbsp;  </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">equipment and construction in progress</FONT>      </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;4,481</FONT></B> </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;(768</FONT></B>  </TD>
        <TD GUTTER align=left width=1%>
<B><FONT size=2 face="sans-serif">)</FONT></B>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;(1,750</FONT></B>        </TD>
        <TD GUTTER align=left width=1%>
<B><FONT size=2 face="sans-serif">)</FONT></B>  </TD>
</TR>
<TR>
  <TD> </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
  <TD> </TD>
  <TD align="right" GUTTER>
    <HR noshade size=2>  </TD>
  <TD>
    <HR noshade size=2>  </TD>
  <TD GUTTER>
    <HR noshade size=2>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size="2" face="serif">9</FONT></P>


<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>

<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.<br>
</FONT></B><B><FONT size=2 face="sans-serif">Unaudited Condensed Consolidated Statements of Cash Flows <br>
(Figures in Thousands of U.S. Dollars)</FONT></B></P>
<P align="right">
&nbsp;&nbsp;&nbsp;&nbsp;</P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD width=75% align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD colspan="5" align=center>&nbsp;<b><font size=2 face="sans-serif">Twelve
    Months<br>
    Ended December 31,</font></b></TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=75% align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD width=8% align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD width=8% align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD  width=2% align="center">&nbsp;
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2005</FONT></B>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Cash flows from operating activities:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<FONT size=2 face="sans-serif">Net income</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;75,444</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;61,558</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<FONT size=2 face="sans-serif">Adjustments to reconcile net income to net cash provided by</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<FONT size=2 face="sans-serif">operating activities:</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Depreciation and amortization</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">5,410</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">3,613</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Share-based compensation expenses</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">15,150</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">8,613</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Minority interest, net of tax</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(242</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(223</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Loss(gain) on disposal of property and equipment</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">36</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(19</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Gain on sale of marketable securities, net</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(197</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(105</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Impairment loss on an investment</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,500</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">129</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Deferred income taxes</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(9,066</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(3,371</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Inventories write down</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">9,417</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">927</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<FONT size=2 face="sans-serif">Changes in operating assets and liabilities:</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Accounts receivable</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(33,286</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(53,297</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Accounts receivable from related parties</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(46,245</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(30,403</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Inventories</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(5,755</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(51,839</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Prepaid expenses and other current assets</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">751</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(6,413</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Accounts payable</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">14,591</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">67,152</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Income tax payable</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">803</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">10,852</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Other accrued expenses and other current liabilities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">2,863</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">5,290</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="sans-serif">Net cash provided by operating activities</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">31,174</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">12,464</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Cash flows from investing activities:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of land, property and equipment</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(19,270</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(14,733</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of available-for-sales marketable securities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(31,911</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(38,048</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Sales and maturities of available-for-sale marketable securities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">27,128</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">42,028</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Proceeds from sale of subsidiary shares by Himax Technologies</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Limited</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,143</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">51</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of investments in non-marketable securities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(1,410</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Purchase of subsidiary shares from minority interest</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(208</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(523</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Return of (increase in) refundable deposits</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">170</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(414</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">Release (pledge) of restricted cash equivalents and marketable</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp;<FONT size=2 face="sans-serif">securities</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">13,946</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(13,724</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">&nbsp; &nbsp; &nbsp; &nbsp;Net cash used in investing activities</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(10,412</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(25,363</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD>
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size="2" face="serif">10</FONT></P>


<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>


<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT></B><BR>
<B><FONT size=2 face="sans-serif">Unaudited Condensed Consolidated Statements of Cash Flows </FONT></B><BR>
<B><FONT size=2 face="sans-serif">(Figures in Thousands of U.S. Dollars)</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD width=75% align=left>&nbsp;</TD>
  <TD  width=2%>&nbsp;</TD>
  <TD width=1% align=right GUTTER>&nbsp;</TD>
  <TD colspan="5" align=center><b><font size=2 face="sans-serif">Twelve Months<br>
    Ended December 31,</font></b></TD>
  <TD width=1% align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=75% align=left>&nbsp;</TD>
  <TD  width=2%>&nbsp;</TD>
  <TD width=1% align=right GUTTER>&nbsp;</TD>
  <TD width=8% align=center>&nbsp;</TD>
  <TD width=1% align=center GUTTER>&nbsp;</TD>
  <TD  width=2% align="center">&nbsp;</TD>
  <TD width=1% align=center GUTTER>&nbsp;</TD>
  <TD width=8% align=center>&nbsp;</TD>
  <TD width=1% align=left GUTTER>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD  width=2% align="center">&nbsp;
        </TD>
        <TD GUTTER align=center width=1%>&nbsp;

        </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2005</FONT></B>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Cash flows from financing activities:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Distribution of special cash dividends</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(13,558</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Proceeds from issuance of ordinary shares</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">147,407</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Proceeds from issuance of new shares by subsidiaries</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">668</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">866</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Shares buyback for canceling</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(38,835</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Proceeds from borrowing of short-term debt</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">11,303</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">27,274</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Repayment of short-term debt</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(38,577</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Repayment of long-term debt</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(89</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">(178</FONT>
        </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">)</FONT>
        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">81,877</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">14,404</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<FONT size=2 face="sans-serif">Effect of exchange rate changes on cash and cash</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;


        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<FONT size=2 face="sans-serif">equivalents</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">8</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">4</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Net increase in cash and cash equivalents</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">102,647</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,509</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Cash and cash equivalents at beginning of period</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">7,086</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">5,577</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Cash received from the acquisition of subsidiary</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">20</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">---</FONT>
        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=1>
        </TD>
        <TD width="8%">
<HR noshade size=1>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=1>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Cash and cash equivalents at end of period</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;109,753</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;7,086</FONT></B> </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
      <HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Supplemental disclosures of cash flow information:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Cash paid during the period for:</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">Interest</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;311</FONT></B>   </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;125</FONT></B>   </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
      <HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="sans-serif">Income taxes</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;5,603</FONT></B> </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;1,130</FONT></B> </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
      <HR noshade size=2>
        </TD>
        <TD width="8%">
      <HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
      <HR noshade size=2>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">Supplemental disclosures of non-cash investing</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
<B><FONT size=2 face="sans-serif">and financing activities:</FONT></B>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">Increase (Decrease) in payable for purchase of</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;

        </TD>
        <TD align=left width=8%>&nbsp;

        </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=75%>
 &nbsp; &nbsp;<FONT size=2 face="sans-serif">equipment and construction in progress</FONT>
        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;3,606</FONT></B> </TD>
        <TD GUTTER align=left width=1%>&nbsp;

        </TD>
        <TD  width=2%>&nbsp;
        </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<B><FONT size=2 face="sans-serif">&#36;(2,285</FONT></B>        </TD>
        <TD GUTTER align=left width=1%>
<B><FONT size=2 face="sans-serif">)</FONT></B>
        </TD>
</TR>
<TR>
        <TD width="75%">
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="2%">
        </TD>
        <TD width="1%" align="right" GUTTER>
<HR noshade size=2>
        </TD>
        <TD width="8%">
<HR noshade size=2>
        </TD>
        <TD width="1%" GUTTER>
<HR noshade size=2>
        </TD>
</TR>
</TABLE>
<div align="center"><BR>
</div>
<P align="center">
<FONT size="2" face="serif">11</FONT></P>


<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>


<P align="center">
<B><FONT size=2 face="sans-serif">Himax Technologies, Inc.</FONT></B><BR>
<B><FONT size=2 face="sans-serif">Unaudited Supplemental Data &#150; Reconciliation Schedule</FONT></B><BR>
<B><FONT size=2 face="sans-serif">(Figures in Thousands of U.S. Dollars, Except Per Share Data)</FONT></B></P>
<P align="left">
<B><FONT size=2 face="sans-serif">Gross Margin and Operating Margin Excluding Share-based Compensation:</FONT></B>&nbsp;</P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD width=64% align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD colspan="5" align=center>&nbsp;<b><font size=2 face="sans-serif">Three Months<br>
    Ended December 31,</font></b></TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD GUTTER align=center>&nbsp;</TD>
  <TD width=8% align=center nowrap><b><font size=2 face="sans-serif">Three
        <br>
      Months <br>
      Ended <br>
    September 30,</font></b></TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>&nbsp; </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD align=center width=8%>
<B><FONT size=2 face="sans-serif">2005</FONT></B>       </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD  width=2% align="center">&nbsp;     </TD>
        <TD GUTTER align=center width=1%>&nbsp; </TD>
        <TD width=8% align=center nowrap>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Revenues</FONT>  </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;220,879</FONT>      </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">&#36;177,334</FONT>      </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;</TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">&#36;177,105</FONT>      </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right nowrap>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Gross profit</FONT></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">41,665</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">37,670</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">30,818</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Add: Share-based compensation &#150; Cost of revenues</FONT>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">25</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">89</FONT>        </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">208</FONT>       </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Gross profit excluding share-based compensation</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">41,690</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">37,759</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>

        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">31,026</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Gross margin excluding share-based compensation</FONT>   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">18.9</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">%</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">21.3</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">%</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">17.5</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">%</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=right>&nbsp;</TD>
  <TD align=right nowrap>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Operating income</FONT></TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">22,765</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">19,139</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">2,742</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Add: Share-based compensation</FONT>     </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">1,493</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">4,130</FONT>     </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">11,456</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Operating income excluding share-based compensation</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">24,258</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">23,269</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">14,198</FONT>    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Operating margin excluding share-based compensation</FONT>       </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">11.0</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">%</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD align=right width=8%>
<FONT size=2 face="sans-serif">13.1</FONT>      </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">%</FONT> </TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=right nowrap>
<FONT size=2 face="sans-serif">8.0</FONT>       </TD>
        <TD GUTTER align=left width=1%>
<FONT size=2 face="sans-serif">%</FONT> </TD>
</TR>
</TABLE>
<P align="left">
<FONT size=2 face="sans-serif">*Gross margin excluding share-based compensation equals gross profit excluding share-based compensation divided by revenues <br>
*Operating margin excluding share-based compensation equals operating income excluding
share-based compensation divided by revenues</FONT></P>
<P align="left">
<B><FONT size=2 face="sans-serif">Diluted Earnings Per Share Excluding Share-based Compensation:</FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
        <TD align=left width=64%>&nbsp; </TD>
        <TD  width=2%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=8%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD width=8% align=center nowrap>
<B><FONT size=2 face="sans-serif">Three Months</FONT></B>       </TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=2%>&nbsp;</TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=9%>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>&nbsp; </TD>
        <TD  width=2%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=8%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD width=8% align=center nowrap>
<B><FONT size=2 face="sans-serif">Ended December 31,</FONT></B> </TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=2%>&nbsp;</TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=9%>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>&nbsp; </TD>
        <TD  width=2%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=8%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD width=8% align=center nowrap>
<B><FONT size=2 face="sans-serif">2006</FONT></B>       </TD>
    <TD align=right width=1%>&nbsp;</TD>
    <TD align=right width=2%>&nbsp;</TD>
    <TD align=right width=1%>&nbsp;</TD>
    <TD align=right width=9%>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Diluted GAAP EPS</FONT>  </TD>
        <TD  width=2%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=8%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=center nowrap>
<FONT size=2 face="sans-serif">&#36;0.15</FONT> </TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=2%>&nbsp;</TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=9%>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Add: Estimated share-based compensation per diluted share</FONT> </TD>
        <TD  width=2%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=8%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=center nowrap>
<FONT size=2 face="sans-serif">&#36;0.01</FONT> </TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=2%>&nbsp;</TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=9%>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Diluted non GAAP EPS excluding share-based compensation</FONT>   </TD>
        <TD  width=2%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=8%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=right width=1%>&nbsp;  </TD>
        <TD width=8% align=center nowrap>
<FONT size=2 face="sans-serif">&#36;0.16</FONT> </TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=2%>&nbsp;</TD>
    <TD align=center width=1%>&nbsp;</TD>
    <TD align=center width=9%>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD GUTTER align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left width=64%>
<FONT size=2 face="sans-serif">Numbers do not add up due to rounding</FONT></TD>
        <TD  width=2%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=8%>&nbsp;</TD>
        <TD  width=1%>&nbsp;</TD>
        <TD  width=2%>&nbsp;    </TD>
        <TD GUTTER align=left width=1%>&nbsp;   </TD>
        <TD width=8% align=left nowrap>&nbsp;   </TD>
    <TD align=left width=1%>&nbsp;</TD>
    <TD align=left width=2%>&nbsp;</TD>
    <TD align=left width=1%>&nbsp;</TD>
    <TD align=left width=9%>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">12</FONT></P>


<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>

<P align="right">
<B><FONT size=2 face="sans-serif">Exhibit 99.2 </FONT></B></P>

<TABLE width=100% border=1 cellpadding=2 cellspacing=0 bordercolor="#000000">
  <TR valign="top">
    <TD width=50% nowrap bgcolor="#0000FF"><font color="#FFFFFF" size=2 face="sans-serif"><strong>LIVE CALL INFORMATION</strong></font></TD>
    <TD colspan=1 nowrap bgcolor="#0000FF"><b><font color="#FFFFFF" size=2 face="sans-serif">REPLAY INFORMATION</font></b></TD>
  </TR>
  <TR valign="top">
    <TD width=50% nowrap><P><B><FONT size=2 face="sans-serif">Tuesday, February 13, 7AM Taiwan</FONT></B><br>
        <FONT size=2 face="sans-serif">Monday, February 12, 6PM NYC</FONT><br>
        <B><U><FONT size=2 face="sans-serif">Listener
                  Call Number: 1&#45;201&#45;689&#45;8560</FONT></U></B></P>    </TD>
    <TD colspan=1 nowrap><P><FONT size=2 face="sans-serif">Accessible 2 hours after the call through<br>
    </FONT><FONT size=2 face="sans-serif">noon on Tuesday, February 13, 2006 Taiwan<br>
    </FONT><FONT size=2 face="sans-serif">Replay
          Number: 1&#45;201&#45;612&#45;7415<br>
    </FONT><FONT size=2 face="sans-serif">Account number: 3055 <br>
    Conference ID number:
    228265</FONT></P>    </TD>
  </TR>
</TABLE>
<BR>
<P align="left"> <B><U><FONT size=2 face="sans-serif">Operator Intro:</FONT></U></B><FONT size=2 face="sans-serif"> Welcome
    to Himax Technologies fourth quarter 2006 results Conference Call. At this
    time, all participants are in a listen&#45;only mode. Later we will conduct
    a question and answer session. At that time, if you have a question, you
    will need to press the star 1 on your push button phone. The call is scheduled
    for one hour.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">As a reminder, this conference
    is being recorded today. A replay will be available 2 hours after the call
    today, through noon on Tuesday, February 13, 2006 in Taiwan. The replay dial&#45;in
    number is 1&#45;201&#45;612&#45;7415 with account number 3055 and conference
    ID number 228265. The replay will also be accessible at www.himax.com.tw.</FONT></P>
<table width="100%" border="1" cellpadding="0" cellspacing="0" bordercolor="#000000">
  <tr>
    <td><font size=2 face="sans-serif">David</font></td>
  </tr>
</table>


<P align="left"> <FONT size=2 face="sans-serif">Thank you operator. Welcome everyone
    to Himax&#146;s fourth quarter 2006 earnings call. Joining us from the company
    are Mr. Jordan Wu, President and Chief Executive Officer, and Mr. Max Chan,
    Chief Financial Officer. After the company&#146;s prepared comments we will
    have time for any questions.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">If you have not yet received
    a copy of today&#146;s results release, please call The Ruth Group at 646&#45;536&#45;7003.
    Or you can get a copy off of Himax&#146;s website. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Before we begin the formal remarks,
    the Company&#146;s attorneys advise that certain statements in this conference
    call, including statements regarding expected future financial results and
    industry growth, are forward&#45;looking statements that involve a number
    of risks and uncertainties that could cause actual events or results to differ
    materially from those described in this conference call. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Factors that could cause actual
    results to differ include general business and economic conditions and the
    state of the semiconductor industry; level of competition; demand for end&#45;use
    applications products; reliance on a small group of principal customers;
    continued success in technological innovations; ability to develop and protect
    our intellectual property; pricing pressures including declines in average
    selling prices; changes in customer order patterns; shortages in supply of
    key components; changes in environmental laws and regulations; exchange rate
    fluctuations; regulatory approvals for further investments in our subsidiaries;
    and other risks described from time to time in the Company&#146;s SEC filings,
    including its Form F&#45;1 dated March 13, 2006, as amended.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">The Company undertakes no obligation
    to publicly update or revise any forward&#45;looking statements, whether
    as a result of new information, future events or otherwise.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">At this time, I would now like
    to turn the call over to Mr. Jordan Wu. Please go ahead, sir.</FONT></P>
<P align="center"> <FONT face="sans-serif" size="2">1</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>

<table width="100%" border="1" cellpadding="0" cellspacing="0" bordercolor="#000000">
  <tr>
    <td><b><font size=2 face="sans-serif">Mr. Jordan Wu</font></b></td>
  </tr>
</table>

<P align="left"> <FONT size=2 face="sans-serif">Thank you David and thank you
    everyone for joining us on today&#146;s call.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">I will now review Himax&#146;s
    performance during the fourth quarter of 2006 and discuss the outlook for
    the first quarter of 2007. Max, our CFO, will then provide further details
    on our financial performance.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">We are pleased with the results
    we achieved in the final quarter of 2006, as our revenues and net income
    both improved significantly from the previous quarter. The industry continues
    to face a challenging period and we are doing our best to work through it.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Our fourth quarter net revenue
    was &#36;220.9 million, a record high since our inception. It represented
    a 24.6% growth year over year, and a 24.7% growth quarter over quarter. The
    strong sequential growth in revenue was primarily due to high seasonal demand,
    the addition of new customers, and the fulfillment of demand that was pushed
    out of Q3 into Q4. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">In terms of customer mix, revenues
    from related parties were &#36;129.0 million, about 58% of total revenue
    in the fourth quarter. Revenues from unrelated parties were &#36;91.9 million,
    or about 42% of total revenue.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Revenues from large panel display
    drivers were up 23.5% sequentially and accounted for approximately 87% of
    our total revenues in the fourth quarter. Growth was primarily driven by
    the increase in LCD TV demands during the holiday season. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Revenues from small&#45; and
    medium&#45;sized display drivers accounted for approximately 11% of our total
    revenues. This is up from approximately 9% in Q306. Sequential growth for
    small and medium&#45;sized display drivers was 48.8%, driven by seasonal
    demand and addition of new customers. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">We are pleased that we were able
    to increase our gross margin to 18.9% in the fourth quarter from 17.4% in
    Q306, despite the challenging market, as we continued to improve our product
    mix and lower our cost.</FONT></P>
<P align="center"> <FONT face="sans-serif" size="2">2</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>
<P align="left"> <FONT size=2 face="sans-serif">Our GAAP operating margin increased
    sequentially from 1.5% to 10.3%, primarily due to a lower share&#45;based
    compensation charge in the quarter. Share&#45;based compensation for the
    third and fourth quarter was approximately &#36;11.5 million and &#36;1.5
    million respectively. Excluding share&#45;based compensation, our non&#45;GAAP
    operating margin also increased sequentially from 8.0% to 11.0% . </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">In addition to the top&#45;line
    growth, we also achieved record level of net income and EPS in the fourth
    quarter. Net income came in at &#36;29.4 million as compared to &#36;4.6
    million in the third quarter. EPS was
  &#36;0.15, as compared to &#36;0.02 in the previous quarter. Tax benefit in
  the fourth quarter was approximately &#36;4.2 million or &#36;0.02 per ADS.
  Max will elaborate on the tax benefit later on. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Despite the extreme pricing pressure
    and excess inventory issues faced by the TFT LCD supply chain, 2006 was a
    remarkable year for Himax. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">The full year&#146;s revenue
    was &#36;744.5 million, a growth of 37.8% year over year. According to iSuppli,
    our world wide market share for large panel applications was approximately
    19.6% in 2006, a significant improvement from 15.9% in 2005. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">In addition, we continued to
    diversify our customer base. Revenues from unrelated parties were &#36;331.0
    million, an increase of 52.3% year over year, while revenues from related
    parties were &#36;413.5 million, an increase of 28.1% year over year. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">On February 1</FONT><SUP><FONT size=2 face="sans-serif">st </FONT></SUP><FONT size=2 face="sans-serif">we
    closed the acquisition of Wisepal Technologies. The exchange ratio was revised
    to 1 Company ordinary share for 5.26 Wisepal shares. The original exchange
    ratio was 1 Company share for 5 Wisepal shares. This revision was made to
    reflect the change in our total outstanding shares upon the completion of
    our share buyback program which we shall talk about in a moment. Starting
    the first quarter we will be reporting our results on a consolidated basis,
    including Wisepal. We are very pleased with the progress of integration of
    both companies so far. We believe this acquisition will greatly strengthen
    our position in the small&#45;and medium&#45;sized applications.</FONT></P>
<P align="center"> <FONT face="sans-serif" size="2">3</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>
<P align="left"> <FONT size=2 face="sans-serif">The share buyback program was
    announced to the market on November 2</FONT><SUP><FONT size=2 face="sans-serif">nd</FONT></SUP><FONT size=2 face="sans-serif">.
    Since then, a total of approximately 10 million of the company&#146;s American
    Depository Shares had repurchased from the open market for a total of approximately &#36;50
    million. The repurchased ADSs and their underlying ordinary shares had been
    cancelled, thereby reducing approximately 5% of the Company&#146;s issued
    and outstanding shares.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Now let me go into our guidance
    for the first quarter of 2007.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">We expect demand for PC&#45;related
    and TV panels to decline significantly due to seasonality and customers&#146; control
    on capacity utilization. However, we expect demand for small&#45; and medium&#45;sized
    will continue to grow as we are adding new customers and products.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Overall, we expect revenue to
    decline 16%&#45;18% sequentially; with gross margin expected to remain flat
    with 4Q06. Diluted GAAP EPS is expected to be approximately &#36;0.08 to &#36;0.09
    as a result of lower revenue and higher operating expenses.</FONT></P>
<P align="left"> <B><U><FONT size=2 face="sans-serif">Now let me turn over to
        Max Chan, our CFO, for some financial details.</FONT></U></B></P>
<P align="center"> <FONT face="sans-serif" size="2">4</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>

<table width="100%" border="1" cellpadding="0" cellspacing="0" bordercolor="#000000">
  <tr>
    <td><b><font size=2 face="sans-serif">Mr. Max Chan</font></b></td>
  </tr>
</table>

<P align="left"> <FONT size=2 face="sans-serif">Thank you, Jordan.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Net revenues in the fourth quarter
    were &#36;220.9 million, representing a year&#45;on&#45;year growth of 24.6%
    and a sequential growth of 24.7% . Large panel display driver revenues increased
    by 23.5%, while small&#45; and medium&#45;sized display driver revenues increased
    by 48.8% sequentially.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">The gross margin had increased
    to 18.9% from 17.4% a quarter ago. Our gross margin was enhanced primarily
    due to our increased shipment in small&#45; and medium&#45;sized driver ICs,
    which typically enjoyed higher gross margins. Small&#45; and medium&#45;sized
    panel drivers accounted for approximately 11% of our revenue in the period,
    up from approximately 9% a quarter ago. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Our operating expense, excluding
    share&#45;based compensation, was &#36;17.4 million in the third quarter,
    up approximately &#36;0.6 million from previous quarter. Our total headcount
    increased to 925 from 903 a quarter ago. The acquisition of Wisepal has increased
    our headcount by a further 50 at the beginning of February. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Upon reviewing our 2006 performance,
    tax benefit of approximately &#36;4.2 million was recorded in the fourth
    quarter to reflect a change in estimate relating to the full year&#146;s
    effective tax rate. This tax benefit was a result of lower (current income)
    tax expense and higher (deferred income) tax credit. The lower tax expense
    was mainly due to a higher percentage of tax exempted revenue as of total
    revenues, whereas higher tax credit was a result of our increasing R&amp;D
    activities. We expect the effective tax rate to be around 0% in the first
    quarter of 2007. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Total share&#45;based compensation
    accrued in the fourth quarter was approximately &#36;1.5 million, or &#36;0.01
    per diluted share, as compared to &#36;11.5 million, or &#36;0.06 in the
    third quarter. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Cash used for the share buyback
    program during the quarter was approximately &#36;40 million. . As of December
    31</FONT><SUP><FONT size=2 face="sans-serif">st</FONT></SUP><FONT size=2 face="sans-serif">,
    2006, our ending cash balance was &#36;109.8 million, with no debt. We used
    approximately &#36;10 million in the first quarter of 2007 to complete the
    remainder of our share buyback program, bringing the total buyback amount
    to approximately &#36;50 million.</FONT></P>
<P align="center"> <FONT face="sans-serif" size="2">5</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>
<P align="left"> <FONT size=2 face="sans-serif">On October 23</FONT><SUP><FONT size=2 face="sans-serif">rd</FONT></SUP><FONT size=2 face="sans-serif"> last
    year, we had completed the relocation of our headquarters to a new facility
    with a total floor area of 22,172 square meters within the Tree Valley Industrial
    Park in Tainan. This move to a larger office space has positioned Himax for
    continued growth in years to come. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Capital expenditure for the fourth
    quarter was &#36;5.6 million. This includes primarily expenditure relating
    to relocation to our new headquarters, and purchase of R&amp;D related equipments.
    Capex for the full year 2006 was &#36;19.3 million.</FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">As Jordan noted, we closed the
    Wisepal acquisition on February 1</FONT><SUP><FONT size=2 face="sans-serif">st</FONT></SUP><FONT size=2 face="sans-serif">,
    2007. This resulted in an immediate addition of approximately 6.2 million
    shares, representing approximately 3.1% of our enlarged share capital. Our
    share buyback program helped offset this increase. We expect the incremental
    amortization charges resulting from acquired intangible assets to be approximately
  &#36;1.2 million per annum. </FONT></P>
<P align="left"> <FONT size=2 face="sans-serif">Jordan provided our Q1 outlook
    earlier. We are basing that guidance on approximately 196.1 million diluted
    weighted average outstanding shares. </FONT></P>
<P align="left"> <B><FONT size=2 face="sans-serif">Operator, that concludes our
      prepared remarks. We can now take any questions.</FONT></B></P>
<P align="center"> <FONT face="sans-serif" size="2">6</FONT></P>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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