Memory-IC backend specialist Powertech Technology (PTI) has announced consolidated revenues of NT$4.87 billion (US$166.3 million) for February 2018, up 21.6% on year but down 9.6% sequentially.

PTI's cumulative 2018 revenues through February totaled NT$10.26 billion, rising 22.3% from a year earlier.

PTI expects revenues to grow through the last quarter of the year thanks to continued brisk demand for memory chips, company president JY Hung said at a January investors meeting.

PTI posted revenues of NT$16.72 billion in the fourth quarter of 2017, up 2.4% sequentially and hitting a record high for the third consecutive quarter. Revenues for 2017 reached an annual record of NT$59.63 billion.