caLogo

LAGUNA, PHILIPPINES — Integrated Micro-Electronics today said first-quarter net income surged $5 million from $253,100 a year ago on higher sales in most geographies. Revenues for the period rose 25% to $205.7 million over 2013.

The EMS company saw higher sales in China, Europe, and the Philippines during the March quarter.

In a press release, IMI president and chief executive Arthur Tan said, "With the improving performance of IMI China due primarily to increased demand from customers in the telecommunications infrastructure market, IMI continues on its rapid growth trajectory."

IMI's China operations made up 36% of the March quarter revenues, posting $73.2 million, up 29% from last year. Europe and Mexico recorded $66.9 million in consolidated revenues, up 22%, on the expanding automotive business in Eastern Europe. The Philippines unit was up 29% to $54.7 million, boosted by robust storage device business.

IMI’s PSi Technologies subsidiary generated $10.9 million in revenues, up 5% from last year.

IMI did not provide specific guidance, but Tan expressed positive sentiments for the year. "Recoveries in the global markets and the electronics industry have bolstered our optimism for the rest of 2014," Tan said.

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account