MANILA, PHILIPPINES -- Integrated Micro-Electronics Inc. (IMI) reported first-quarter net income of $4.5 million, up 36.4% year over year, as improved factory utilization and cost-cutting efforts helped offset weaker demand in some mobility-related markets.

Revenue for the quarter was $220 million, remaining relatively flat compared with the prior year as the company continued to see sluggishness in certain mobility segments. Gross profit margin improved to 9.7% from 8.7%, supported by pricing discipline, higher factory utilization, and factory footprint optimization initiatives.

The Ayala-led electronics manufacturer said it continues monitoring supply chain and logistics risks tied to ongoing Middle East conflict conditions but noted that operations have not been materially affected.

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