Touch panel maker TPK Touch Solutions has reported net profits of NT$4.74 billion (US$160.3 million) on consolidated revenues of NT$59.6 billion for 2010. The earnings translated into an EPS of NT$23.03 for 2010, according to the company.

The company's shipments of touch panels to Apple have continued without being delayed recently despite market rumors stating that Apple may postpone its shipments of iPad 2 tablets, TPK said.

However, market sources expect TPK to see its revenues decline 10-15% sequentially in the first quarter of 2011 due to the Lunar New Year holidays. For the fourth quarter of 2010, the company posted revenues of NT$26.8 billion, up 56% on quarter and 405% on year.

TPK has begun construction of its new plant in Xiamen which is expected to begin volume production of cover lenses in June.

The company also expects its capex to reach NT$20.3 billion in 2011 compared to NT$9.4 billion in 2010. Of the total capital spending in 2011, NT$7.2 billion will be used to expand lamination capacity, NT$6.6 billion for touch sensor manufacturing equipment, and the remaining NT$6.5 billion for cover lens equipment.