MANILA – Integrated Micro-Electronics reported 2019 revenues down 7% to $1.2 billion. The net loss was $7.8 million in 2019, compared to net profit of $47.2 million in 2018.

“Despite the continuing decline of the market environment, we are resolute in setting the bar to key technological advancements and remain ahead of the curve,” said Arthur Tan, CEO, IMI. “With our resilience, along with our technical expertise and commitment to quality manufacturing, I’m confident we shall continue to win significant businesses in emerging technology platforms. As the adoption of these new products begins to accelerate, we will relentlessly take the necessary steps to achieve sustainable returns as we pull through this current market situation.”

In 2019, IMI’s new business deals amounted to $407 million worth of annual revenue potential across all IMI electronic manufacturing service facilities.

IMI Europe achieved 3% year-over-year growth on higher auto demand. IMI Mexico had 50% revenue growth during the year. Via Optronics and STI posted combined revenues of $248 million, down 21%.