-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IMI Posts 13% Operating Income Growth in 2016
February 20, 2017 | Integrated Micro-Electronics Inc.Estimated reading time: 2 minutes
Integrated Micro-Electronics Inc. (IMI) has delivered a positive revenue and operating income growth of 4 percent and 13 percent, respectively, amid a challenging environment in electronics manufacturing.
IMI's President and Chief Operating Officer Gilles Bernard said, "Despite challenges in the global economic environment and the ongoing portfolio mix changes from our Asian operations, we were able to accomplish a positive growth and improved gross profit margin by 50 bps to 12 percent."
Consolidated revenues reached $843 million for 2016. Excluding acquisition, revenues went up by 1 percent, driven by Europe and Mexico operations reporting combined revenues of $308 million or 15 percent growth year-on-year. Net income of $28.1 million was slightly lower by 2 percent year-on-year owing to transaction and financing costs related to acquisitions and foreign exchange impact of the renminbi.
The company's operations in Asia delivered lower growth as a result of China's slower economic activity and IMI's strategic decision to disengage from one consumer electronics business. In addition, its Philippine operations also drew away from the declining segment in computing peripherals, driving lower growth. China operations posted $261.4 million, down 6 percent from last year. Philippines' electronics services operations delivered $221 million, 2 percent lower than last year, while PSi Technologies, IMI's semiconductor assembly and test subsidiary, posted $33 million in revenues, down 2 percent year-on-year.
IMI continues to expand its footprint in higher complex box build offerings, while making disciplined investments to fund its growth initiatives. In 2016, IMI spent $52.3 million on capital expenditures to build more complex and higher value-add manufacturing capabilities and growth platforms. The company remains to have a strong cash position with debt-to-equity ratio of 0.74:1. With the support of shareholders and partners, IMI has the financing capability and operational momentum to sustain its future growth and competitively tap different markets and technologies on a global scale.
"The company's robust presence in the automotive and industrial segments equipped IMI to seize many opportunities ahead. We won new projects in 2016, mostly from those segments, a 23 percent growth from the previous year," said Arthur Tan, IMI Chief Executive Officer.
"As we press on, we look forward to entering new industries and reinventing our existing businesses. Our global acquisitions over the years have strengthened our ability to support the different regions where we operate, with our various capabilities," Tan added.
About IMI
Integrated Micro-Electronics Inc. (IMI), a subsidiary of Ayala Corporation, is among the leading global manufacturing service providers in the world. In the automotive segment, it is the 6th largest EMS provider in the world per New Venture Research. IMI specializes in durable electronics for long-product life cycle segments such as automotive and industrial electronics. For the automotive segment, IMI delivers customized solutions for safety and security, among others. It supplies cameras that are integral technology to the advanced driver assistance systems (ADAS). For the industrial segment, it manufactures security and access control devices, power modules, and building automation, among others. From its manufacturing plants in the United States, Mexico, Bulgaria, Czech Republic, Germany, China, and the Philippines, IMI provides engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally.
Suggested Items
ZESTRON Academy Launches 2024 Advanced Packaging & Power Electronics Webinar Series
05/01/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, proudly announces the launch of its highly anticipated webinar series on Advanced Packaging & Power Electronics, a webinar series on the latest innovations, cleaning, and corrosion challenges.
NextFlex Convenes the Hybrid Electronics Community at Binghamton University
05/01/2024 | NextFlexBinghamton University hosted the NextFlex hybrid electronics community on April 18 for a day of expert presentations, breakout sessions on technology and manufacturing topics, and networking.
HQ NextPCB of HQ Electronics Debut on the International Stage for Electronics Manufacture at IPC APEX 2024
05/01/2024 | PRNewswireHQ NextPCB of HQ Electronics, a leading Chinese-based multilayer PCB manufacturer and assembly house showcased its industrial prowess on the international stage for the first time at the IPC APEX Expo 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
All-Inclusive: PRIDE Industries Helps Employees With Disabilities to Succeed
05/01/2024 | Sandy Gentry, IPCPRIDE Industries is the leading employer of people with disabilities and those with other barriers to employment in the United States, including veterans and former foster youth. The company offers job training, placement, on-the-job coaching, and skills development for independent living. It has held IPC membership since 2000. Read more about this unique business and its connection to the electronics manufacturing industry.