AimCore Technology posts strong net profits for 2011

AimCore Technology has reported net profits of TWD 354 million (USD 11.98 million) or an EPS of TWD 8.23 on revenues of TWD 1.66 billion for 2011, but still may be unable to repeat its revenue and profit growth in 2012.

Taiwan-based ITO glassmaker AimCore Technology has reported net profits of TWD 354 million (USD 11.98 million) or an EPS of TWD 8.23 on revenues of TWD 1.66 billion for 2011. Based on its earnings, the company plans to issue dividends of TWD 3.30 for the year, including TWD 2.30 in cash and TWD 1 in shares.
Even if AimCore’s revenues and profits for 2011 were both the highest, the company may be unable to repeat its revenue and profit growth in 2012, since one of its major clients, Cando, had been acquired by TPK Holding, which has, according to industry sources, aimed to produce ITO glass in-house and also emphasize OGS (one glass solution) touch panels.
However, AimCore stated that the development of OGS solutions will push up demand for ITO films, and has begun small volume shipments of ITO films to clients.
AimCore has a current production capacity of one million ITO glass sheets a month, with new capacity to be ready online in the second quarter.
The company posted revenues of TWD 130 million in the first two months of 2012, a 43% decrease from a year earlier.