LAGUNA, PHILIPPINES – Integrated Micro-Electronics Inc. posted third-quarter net profits of $123,000, down 59% year-over-year.

The contract printed circuit board assembler reported September quarter revenues of $157.6 million, up 13% sequentially and 51% year-over-year, boosted by multiple acquisitions.

Year to date through Sept. 30, the EMS company recorded $420.1 million in consolidated sales revenues, up 43% year-over-year. Consolidated net income is down 67% from last year to $1.6 million on higher material and direct labor costs. 

Revenue growth was attributed to turnkey business in China, strong business in the automotive and industrial segments for the Philippine operations, and additional revenues from PSi Technologies and IMI’s acquisition of EPIQ’s EMS sites in Eastern Europe and Mexico.

The company’s China and Singapore operations generated $213.8 million in revenues in the first nine months, up 16% year-over-year. The Philippine operations posted $118.2 million in revenues, up 9% from the same period last year. 

PSI contributed $61.4 million in revenues from January to September. Sales posted by the entities in Bulgaria, Czech Republic, and Mexico totaled $25.7 million covering the months of August and September.

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