BINAN, PHILIPPINES – Integrated Micro-Electronics reported second quarter revenue of $319 million, up 45% year-over-year and down 2.6% sequentially.

The company cited long lead times for semiconductor components and supply constraints that continue to tighten. IMI noted an increased backlog compared to the first quarter.

Net loss for the second quarter was $1.3 million, compared to a net loss of $17.5 million in the same period of 2020.

For the first six months of 2021, revenues were $647 million, an increase of 194% year-over-year. IMI had net profit of $915,000, compared to a $23 million net loss in the first half of 2020.

“We are still navigating through turbulent waters, but we see an easing of the supply chain challenges in the second half of 2021,” said IMI president Jerome Tan. “Although the issues brought about by the global component shortage affected the entire industry, we choose to focus on excelling in the areas we can control. Through rigorous collaboration with customers and suppliers, our order books remain robust with high levels of customer demand. IMI continues to build its pipeline by winning new projects that should allow us to improve performance as soon as the supply chain finds its balance.”

In the first half, IMI’s businesses incurred new deals with annual revenue potential of $254 million.

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