-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box 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.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IMI Exceeds $1B Revenue in 2017
February 8, 2018 | IMIEstimated reading time: 2 minutes
Integrated Micro-Electronics Inc. (IMI) has announced that revenues for the full year 2017 hit a record high of $1.09 billion, rising 29% from 2016. Revenue growth was accelerated by recent acquisitions and continued growth in automotive and industrial markets. Net income reached $34.0 million, up 21% year-on-year.
Arthur Tan, IMI chief executive officer, says, "We are eager to build on this success and will ensure that our diverse capability as an organization will sustain our competitive advantage and stronghold in the global market. As a cohesive global company with a shared vision, we aim to design competitive positions and strategies that capitalize on corporate strengths."
Revenues from Europe operations grew 14% year-on-year to $276.5 million, benefiting from lighting, controllers and driver assistance systems of its automotive segment. In Mexico, revenues expanded 29% to $84.2 million, as numerous projects for North America customers entered new product introduction phase throughout the year.
China operations posted $271.1 million in revenues, up 4% year-on-year despite the delay in new technology roll-out in the telecom infrastructure business. The broadened product mix including electric vehicle charging solutions provided demand growth and differentiation to China facilities.
Philippine operations increased 4% to $263.7 million strengthened by new industrial applications and automotive camera business. This positive trend offsets the drop in demand in the security and medical device business.
Revenues from acquired businesses amounted to $193.9 million in 2017. VIA Optronics, a Germany-based optical bonding and display solutions provider, contributed $148.4 million—the highest revenues in its 12-year history. This compares to the three months revenue contribution of $19.4 million recognized in 2016. STI Enterprise, a United Kingdom-based electronics manufacturer specializing in aerospace and defense markets, added $45.5 million to IMI’s revenues representing seven months contribution.
"The flexibility of our operations and seasoned expertise is a manifestation of our readiness to face the challenges in a competitive environment," IMI President and Chief Operating Officer Gilles Bernard said in a statement. "As we undergo major technological disruptive changes, our industrial excellence will help tailor our offerings more precisely while also preserving our margins."
IMI continues to improve its strategic position and enable market share growth by investing in automation and high capacity equipment that would impact productivity and add value to economic performance. For 2017, IMI spent $65.3 million in capital expenditures to support innovative growth platforms.
The company's capital structure remains stable with a current ratio of 1.28:1 and debt-to-equity ratio of 1.08:1.
About IMI
Integrated Micro-Electronics Inc. (IMI), the manufacturing portfolio of AC Industrial Technology Holdings, Inc., a wholly-owned subsidiary of Ayala Corporation 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.
Suggested Items
All Flex Solutions Hires Mike Madetzke as Manager of R&D
05/08/2024 | All Flex SolutionsAll Flex Solutions is very pleased to announce that Mike Madetzke has joined their team as their new Manager of Research and Development.
Shane Whiteside of Summit Reflects on Today's PCB Landscape
05/08/2024 | I-Connect007 Editorial TeamSummit Interconnect began as a printed circuit board manufacturing company just eight years ago and has seen impressive growth organically and through acquisition. Summit President and CEO Shane Whiteside takes a few moments to share his thoughts on the growing PCB industry in the United States.
America Projected to Triple Semiconductor Manufacturing Capacity by 2032, the Largest Rate of Growth in the World
05/08/2024 | SIAThe Semiconductor Industry Association (SIA), in partnership with the Boston Consulting Group (BCG), released a report on the global chip supply chain that projects the United States will triple its domestic semiconductor manufacturing capacity from 2022—when the CHIPS and Science Act (CHIPS) was enacted—to 2032.
Coherix Partners with EMU on 'Factory of the Future' Technology Program
05/08/2024 | PRNewswireMichigan-based Coherix is working with Eastern Michigan University (EMU) in Ypsilanti to develop "factory-of-the-future" manufacturing and assembly technology.
Simbe Partners with Plexus to Scale Manufacturing and Meet Global Retail Demand
05/08/2024 | Globe NewswireSimbe, the leading provider of Store Intelligence™ solutions that increase retailer performance through unprecedented visibility and insights, today announced a partnership with Plexus Corp. to bring its best-in-class retail robotics-as-a-service to market quickly and at global scale.