ITO glass supplier AimCore Technology has announced revenues of NT$119 million (US$4.03 million) for January, up 20% sequentially and 126% on year, a record high in monthly revenues.

AimCore's January sales increased sequentially despite seasonality mainly due to surging demand for capacitive touch panels and tight supply for ITO glass, which was about 20% short of the total demand.

Revenues in February are also expected to remain high, and performance for first quarter of 2011 will be strong despite the quarter being the weak season, while the company's overall profitability and gross margins will increase.

AimCore currently has five ITO glass production lines with a total monthly capacity of one million units, one metal coating production line with monthly capacity of 100,000 units, one OLED coating production line with 100,000 units in monthly capacity, and one ITO film production line with a monthly capacity of 30,000-40,000 square meters.

AimCore plans to add a second ITO film production line at the end of February and will continue to expand its capacity for ITO glass by the third quarter of 2011 and increase the monthly capacity to around 1.5 million units.