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EMS firm 1Q12 revenues up 128%

Posted: 08 May 2012 ?? ?Print Version ?Bookmark and Share

Keywords:EMS? power semiconductor assembly? test services?

Philippine-based EMS and power semiconductor assembly and test services provider Integrated Micro-Electronics Inc. (IMI) has posted $853.9 thousand in net income in the first three months of 2012, or a 128 percent YoY growth.

According to the company, the upturn in income is due to IMI's business expansion in Europe and Mexico, as well as reduced operating expenses of the company. IMI's consolidated sales revenues of $152 million improved by 24 percent year over year, the company added.

Arthur Tan, IMI president and chief executive officer, said, "With our company's implementation of a global geographic expansion, we have realized a diversity in markets and operations. A healthy mix of customers and programs has cushioned the effects on our financial performance of the global electronics industry slowdown."

IMI's subsidiaries in Europe and Mexico contributed $40.9 million revenues in the first quarter of 2012.

IMI's Philippine operations generated $38.2 million revenues, a 4 percent YoY growth because of strong programs in the consumer and automotive segments. The company's operations in China and Singapore posted $61.7 million in combined revenues, a decline of 5 percent YoY due primarily to a reduction in turnkey sales to a customer in the telecommunication infrastructure market.

Tan said, "In an environment of fragile global economic expansion, we are confident that we will grow our business for the rest of the year."

Tan added, "We have a robust sales pipeline for the automotive, industrial, consumer, and renewable energy markets. We expect more business in Asia given the economists' outlook of high growth rate for China and the rest of emerging Asia. Likewise, we will tap into our broader global footprint and expanded technical capability to take advantage of improving economies like Japan, the United States, Germany, and France."

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