LAGUNA, PHILIPPINES – Integrated Micro-Electronics reported revenues up 27% year-over-year in the first nine months of 2018. Its core business in Europe, Asia, and Mexico recorded $780 million in revenues.

Growth came primarily from the industrial and automotive segments, which grew 67% and 24% year-over-year, respectively.

Net income grew 71% year-over-year to $41.4 billion during the period.

“The fast-paced evolution of automotive and industrial segments resulting in unexpected demand for components is creating pressure in constrained markets,” said IMI CEO Arthur Tan. “We continue to expand our reach in countries that we believe would reap positive benefits and develop a competitive edge in the global market.”

The electronics manufacturer recently opened a car components facility in Serbia.