IMI’s Q1 Revenues Up 8.5% PDF Print E-mail
Written by Chelsey Drysdale   
Friday, 10 May 2013 10:11

LAGUNA, PHILIPPINESIntegrated Micro-Electronics Inc. recorded $164.8 million in consolidated revenues in the first three months of 2013, up 8.5% year-over-year.

Growth is attributed mainly to the company’s business expansion in Europe and the Philippines, IMI says.

The company generated $253,100 in net income in the first quarter of fiscal year 2013, down 70.4% compared to the same period of 2012, as a result of lower capacity utilization in its China facilities.

“Worldwide demand for electronic products remains challenged, as the Eurozone, the US, Japan, and China tread uncertain economic waters. But at IMI we are experiencing improved performance at our European, North American and Philippine operations, an indication of a healthy recovery in 2013, albeit not across all markets,” said  Arthur Tan, president and CEO of the electronics manufacturer.

IMI’s China and Singapore operations contributed $56.7 million in combined revenues in the first quarter, a decline of 8.1% year-over-year. The firm says the operations experienced reduced sales in the telecommunication infrastructure market.

Operations in Europe and Mexico posted $54.9 million in combined revenues, up 34.2% compared to the same quarter last year because of the expansion of its automotive business.

IMI’s operations in the Philippines posted $42.6 million in revenues, up 11.5% year-over-year because of strong programs in the computing, consumer, and industrial segments.

PSi Technologies, a subsidiary of IMI, recorded $10.4 million in revenues, down from last year by 4.8%.

 

Columns

Eastern-US: China’s New Competitor?

Parity emerges among EMS Factories from Asia, Mexico and the US.

For the first time in years we see parity in the Eastern US among EMS factories from Asia, Mexico and the US. This EMS market condition will permit American OEMs (the EMS industry refers to OEMs as customers) to have more EMS pathways to choose from. Now more than ever, such EMS assignments will require deeper investigation relating to the OEMs’ evaluation of manufacturing strategies.

Read more...
 
The Human Touch

For those who count on the electronics industry for big feats, it’s been a remarkable couple of years.

Read more...
 

Features

Advances in Concentration Monitoring and Closed-Loop Control

Contaminated bath water skews refractive index results. New technology can accurately measure aqueous cleaning agent concentration.

Read more...
 
Circuits Disassembly: Materials Characterization and Failure Analysis

A systematic approach to nonconventional methods of encapsulant removal.

Read more...
 

Search

Search

Login

CB Login

Language

Language

English French German Italian Portuguese Russian Spanish
 

Products

Panasonic Debuts PanaCIM Maintenance with Augmented Reality
PanaCIM Maintenance with Augmented Reality software provides instant communication and information to factory technicians -- when and where it is needed -- so they can respond to factory needs more...