IMI Growth Backed by Strong Communication and Automotive Businesses
October 23, 2014, Laguna, Philippines — Integrated Micro-Electronics Inc. (IMI), one of the leading worldwide providers of electronics manufacturing services (EMS) and power semiconductor assembly and test services, today announced a surge in its consolidated revenues for the nine months ended September 30, 2014, on the back of the company’s communication and automotive businesses, which contributed 70 percent to the total increase.
Revenues of US$650.1 million increased by 19 percent from US$547.1 million for the same period in 2013. The corresponding net income is US$21.0 million.
Arthur Tan, IMI president and chief executive officer, says, “Despite continued volatility in the global markets, IMI maintains a profitable growth as it is naturally hedged by the diversity of its markets served and locations in which it operates.”
For the nine-month period of 2014, IMI’s China operations generated US$246.3 million revenues, 25 percent higher than last year’s due mainly to volume expansion for main customers in the telecommunications segment. The China operations accounted for 38 percent in IMI’s total revenues.
“The Chinese economy, despite the slowdown, manages itself well,” Tan adds. “Its 4G rollout has commenced, which benefits IMI from the standpoint of increased demand for telecommunications infrastructure devices.”
Revenues from the company’s Europe and Mexico operations continued to increase with the sustained expansion of the automotive business in IMI’s factory in Bulgaria. Tan notes that the “European electronics brands remain strong, driven by rising demand in automotive electronics.” The combined revenues of IMI operations in Europe and Mexico of US$202.4 million grew by 16 percent year-over-year.
IMI’s EMS operations in the Philippines garnered US$166.8 million in revenues, an 18 percent year-on-year growth due mainly to a strong performance of its storage device business and an upsurge in its automotive electronics business.
IMI’s power semiconductor company PSi Technologies Inc. posted US$34.4 million in revenues, surpassing last year’s by 4 percent. Tan says, “The demand for power semiconductors is on the rise, alongside the growing demand for environment-friendly, energy-saving products.”
The company’s revenues for the third quarter ended September 30, 2014, increased by 11 percent over the year-ago quarter to US$219.1 million, driven by double-digit growth in telecommunications infrastructure devices and storage device markets as well as the continuous expansion of its automotive business.
Tan says, “IMI, with its global footprint and extensive technical capabilities, is in a good position to take advantage of opportunities as electronics becomes more and more an important part of people’s daily lives.”
IMI, he adds, will persist on a profitable growth trajectory as it continues to “engage in high-value products, improve line utilization, and enhance productivity and quality.”
Integrated Micro-Electronics Inc. (IMI) is one of the leading global providers of electronics manufacturing services (EMS) and power semiconductor assembly and test services with manufacturing facilities in Asia, Europe, and North America. It serves diversified markets that include those in the automotive, industrial, medical, telecommunications infrastructure, storage device, and consumer electronics industries. Committed to cost-effective and innovative customized solutions (from design and product development to manufacturing and order fulfillment), the company’s comprehensive capabilities and global manufacturing presence allow it to take on specific outsourcing needs. IMI is the 21st largest EMS provider in the world in terms of 2013 EMS revenues based on the list of Manufacturing Market Insider. A subsidiary of Ayala Corporation, IMI is listed on the Philippine Stock Exchange. For more information, visit www.global-imi.com.
IMI will always be relevant, if not on the leading edge of the next big thing."
Arthur R. Tan, Vice Chairman and CEO
CONTACT US TODAY.