Industrial-control touch panel maker Higgstec has reported net profits of NT$94.2 million (US$3.23 million) or NT$2.69 per share on revenues of NT$1.25 billion in 2017.
With niche-market touch panels such as those for ruggedized PCs and medical care applications to account for 30% of its total sales in 2018, the company expects its revenues to grow by a double-digit rate in the year, according to company president Fan Chih-ming.
Currently, touch panel solutions for industrial-control applications account 43.5% of the company's total sales, followed by those for POS devices at 25.5%, rugged PCs at 15.2% and medical care at 11.7%, Fan indicated.
Having already begun shipping touch panels in above 40-inch sizes, Higgstec has also started trial production of 84-inch models, as well as large-size curved touch panels, Fan revealed.
Sales to North America and Europe currently account for nearly 50% of the company's total sales and sales in the Taiwan market take up 30%. Another 13% comes from Singapore, 5% from China and 2% from Korea.
Based on an IHS report which indicates that the global industrial-control panel market is to grow at CAGR of 4.8% from 2016-2020, Higgstec expects its sales momentum to remain robust in the forecast period, Fan said.
The stock of Higgstec is scheduled to debut on Taiwan's over-the-counter (OTC) securities market at the end of April 2018.