ROCKLIN, CA -- International DisplayWorks reported first-quarter revenues increased 85% to $18.1 million, a record, for the period ended Jan. 31.

Gross profit rose 53% to $3.6 million, while net income rose to $1 million.

"We are clearly executing our strategic growth plan, exceeding previous records for revenue, managing expenses and producing record profitability," said Tom Lacey, IDW's chairman and chief executive.

IDW guided for second quarter revenue of $22 million to $23 million.

International DisplayWorks manufactures and designs LCDs, modules and assemblies in China.