Packaging and testing company Powertech Technology (PTI) has reported consolidated revenues of NT$3.8 billion (US$117.6 million) for May 2016, up 5.2% sequentially and 10.7% on year.

PTI's cumulative 2016 revenues through May totaled NT$18.03 billion, rising about 11% from a year earlier.

PTI previously expressed optimism about its revenue and gross margin performance in the second quarter of 2016. The company expects to post sequential revenue growth through the last quarter of the year.

Market watchers expect PTI to post an up to 5% sequential increase in second-quarter revenues.

PTI generated consolidated revenues of NT$10.62 billion in the first quarter of 2016, down 12.2% on quarter but up 12.6% on year. Gross margin reached 19.4% in the first quarter compared with 21.2% in the prior quarter and 17.7% a year earlier.