The tidal wave of big-screen TVs is screeching to a halt and pounding the results of semiconductor maker Himax Technologies (Nasdaq: HIMX) along the way. It isn't a surprise in a lot of respects as the recession drags on the economy, and there is little need to upgrade a big-screen TV once you have one. We're past the fast technology-changing days of the early 2000s when TVs became flatter, HD became the norm, and prices fell quickly, causing consumers to upgrade more rapidly.

As a result, Himax's revenues from large-panel displays' drivers were down 48% from last year to $72.5 million. Small- and medium-sized applications fared much better, reaching $54.1 million in the quarter, up 11.8% from last year.

Companywide revenue fell 31.9% to $138.3 million, and net income was a miniscule $0.4 million or 0.3 cents per share. Yep, less than a penny.

So, what is it going to take to turn Himax around? A widespread adoption of 3-D televisions would be a good start. 3-D has been a resounding hit in the box office, as results at RealD (NYSE: RLD) and IMAX (Nasdaq: IMAX) have shown, but I think we are a long way from 3-D being a staple in people's homes. When it does, Himax's 2-D to 3-D conversion solutions are ready to be embedded into displays.

There's also the wild card of OLED televisions hitting the market next year as OLED-licensee Universal Display (Nasdaq: PANL) starts to see better results. Can that start to drive big-screen sales up next year? I have my doubts.

I don't see much to get excited about for Himax in the quarter as its major market is deteriorating and developing a longer replacement cycle. 3-D has a long way to go before adding significant revenue to the company, so I see more struggles before things get better.

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Fool contributor Travis Hoium does not own a 3-D TV yet and owns shares of IMAX. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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