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IMI 9M2017 Revenues Up 29%
November 6, 2017 | IMIEstimated reading time: 2 minutes
EMS firm Integrated Micro-Electronics Inc. (IMI) posted $795.2 million in revenues for the first nine months of 2017, an increase of 29% year-on-year due to positive effects of recent acquisitions and a rising demand in the automotive and industrial segments. Net income also improved by 16% to $24.1 million compared to last year.
IMI CEO Arthur Tan said, "IMI today is different from the IMI more than 10 years ago in the way we do things. We are now in the forefront of taking electronics to the next level penetrating high reliability markets and moving forward to a more advanced automotive electrification and autonomous driving."
Revenues from Europe and Mexico operations surged 15% year-on-year to $263.4 million in the first nine months driven by increasing demand for automotive lighting, an innovative global megatrend for safety and performance. Ongoing expansions and new product introduction carried out in Mexico plant to support North America requirements also bolstered the group revenues.
Philippine operations increased by 4% to $197.9 million, strengthened by new industrial applications despite drop in demand in the security and medical device business.
The company’s China operations posted $198.2 million in revenues, up 1% year-on-year, as a result of demand decline in the telecom infrastructure business, but offset by positive growth in automotive and industrial segments.
The two recent acquisitions, VIA Optronics and STI International, contributed a combined $136.2 million in revenues.
New project wins for the year have reached $580 million, a 217% increase from the previous year. Other notable wins in the third quarter include controls and sensors, power modules, advanced driver assistance system (ADAS) controllers, and battery management systems.
"We continue to gain momentum as the synergistic effects of our recent acquisitions kick in," IMI President and COO Gilles Bernard said in a statement. "As IMI builds its competence around the next generation of technologies in high value markets, we will be more involved in the ever evolving global value chains in the automotive, industrial and aerospace markets,” Bernard added.
About IMI
Integrated Micro-Electronics Inc. (IMI), the manufacturing portfolio of AC Industrial Technology Holdings, Inc., a wholly-owned subsidiary of Ayala Corp. is among the leading global manufacturing solutions providers in the world. IMI ranks 20th in the list of top 30 EMS providers in the world by the Manufacturing Market Insider, based on 2016 revenues. In the automotive segment, it is the sixth largest EMS provider in the world per New Venture Research.
IMI specializes in highly reliable and quality 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, United Kingdom and the Philippines, IMI provides engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally. For more information, visit www.global-imi.com.
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