LAGUNA, PHILIPPINES – Electronics manufacturing services firm Integrated Micro-Electronics Inc. reported a first-half 2012 net income increase of 173% to  $3.1 million year-over-year.

IMI’s consolidated sales revenues of $325.7 million improved 24% during the period.

The income growth is attributed primarily to the company’s expansion in Europe and Mexico, increased business from the Philippines, and reduced operating expenses.

Subsidiaries in Europe and Mexico contributed $85.7 million in revenues in the first six months of 2012, while PSi Technologies, another IMI subsidiary, recorded $25 million in revenues.

The company’s operations in China and Singapore contributed $134.9 million in combined revenues, or a drop of 6% year-over-year.

IMI’s Philippine operations recorded $79.5 million in revenues, up 3% year-over-year.

The firm’s second-quarter revenues increased 14% sequentially, while net income improved 164%.

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