LAGUNA, PHILIPPINES — Integrated Micro-Electronics Inc. today reported second-quarter revenues of $215.1 million, down 8.9% year-over-year.

Net income for the period ended June 30 was up 36% to $6.8 million, the EMS company said.

First-half net income is up 35% to $15.2 million on operational improvements, portfolio mix, and cost-saving measures. First-half revenue was down 3% to $416.3 million, reflecting effects of a weak euro and slowdown in demand for mature products in the computing sector. Excluding the impact of currency fluctuations, revenues would have been up 2.4%.

In a press release, IMI president and chief executive Arthur Tan said, "Despite foreign exchange headwinds, we managed to post an increase in our profit in the first half of the year. We kept our focus on higher margin segments as we persistently improved manufacturing line productivity.”

The company’s Europe and Mexico operations recorded combined first-half revenues of $137.6 million, even with a year ago, as the persistent euro weakness subdued robust automotive growth. China revenues declined 9% year-over-year to $146.1 million due to lower volume for telecommunications infrastructure programs.

EMS operations in the Philippines generated revenues of $109.5 million, flat with last year, as the growing services for automotive segment and backlog recoveries from industrial customers offset a slowdown in computer peripherals.

"Moving forward, we are confident that the company will benefit from the positive outlook for the advanced economies for this year and 2016," Tan added. "Our healthy pipeline will soon translate to new businesses, especially in the automotive and industrial segments."

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