Integrated Micro-Electronics’ first semester net profit soars to $11.3M

SCREENGRAB from www.global-imi.com

MANILA, Philippines—The Ayala-led Integrated Micro-Electronics Inc. (IMI) on Thursday reported posting a net profit of $11.3 million during the first six months of the year.

IMI president Arthur Tan, in a disclosure to the Philippine Stock Exchange, said the company’s net profit surged by over five times year-on-year basis on the back of a double-digit growth in manufacturing operations across China, Eastern Europe, Mexico and the Philippines.

For the second quarter alone, IMI chalked up a net profit of $6.3 million, over three times better than the level in the same period in 2013.

“We maintain our profitable growth trajectory, driven by increased demand from customers in the telecommunications infrastructure, automotive electronics, and storage device markets. More important, we have a healthy sales pipeline, especially for the automotive segment,” Tan said.

Consolidated first-half revenues rose by 23 percent year-on-year to $431 million.

Revenues for the second quarter alone were up by 21 percent year-on-year to $225.2 million.

“IMI’s strategic focus over the last decade has begun to bear fruit, as we continue to develop new business models as well as high value-add services that fit the dynamic markets we serve today,” Tan said.