-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueSolder Printing
In this issue, we turn a discerning eye to solder paste printing. As apertures shrink, and the requirement for multiple thicknesses of paste on the same board becomes more commonplace, consistently and accurately applying paste becomes ever more challenging.
A Culture of Thriving
One cannot simply command thriving; it must be nurtured, developed, and encouraged. In this issue, we explore strategies to improve your working relationship model—both internally and externally. In this culture of thriving, your business will grow in the process.
Certifications
Certifications have historically been seen as a cost of doing business, but how do we turn them into a positive ROI and a value to both customer and vendor?
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IMI Reports $566 Million Revenues in First Half of 2024
August 2, 2024 | IMIEstimated reading time: 1 minute
Integrated Micro-Electronics, Inc. (IMI), a global leader in electronics manufacturing services, announced its financial results for the first half of 2024, highlighting strategic initiatives amidst challenging market conditions.
IMI reported group revenues of US$566 million for the first half of 2024, reflecting an 18% decline compared to the same period last year. This decrease is partly attributed to the divestment of STI, which was still part of the group in early 2023. The delayed ramp-up of new projects also contributed to lower utilization levels, resulting in a 1H gross margin of 8.5%. While the wholly-owned subsidiaries have remained net positive, non-core activities continue to face challenges for the period. The group reported a net loss of US$8.8 million for the first half of 2024.
Market softness in the industrial sector has affected IMI's Philippine operations, with reduced demand from end markets delaying customer launches of new models as the supply chain continues to trim down existing inventory levels. In response, IMI continues to optimize its customer portfolio by reducing involvement in lower-margin projects, aiming to enhance profitability and focus on higher-value opportunities within its pipeline. Rightsizing initiatives have helped mitigate revenue declines as corporate structures are realigned with current business dynamics.
Louis Hughes, CEO of IMI, commented, "We have initiated various activities aimed at fortifying our financial health, enhancing operational effectiveness, and delivering greater value to our stakeholders. These measures include streamlining operations through simplified organizational structures to enhance decision-making agility. We are also focused on eliminating inefficiencies to lower operational costs without compromising the manufacturing quality that defines IMI's reputation as a leader in the EMS space. Our management teams are actively leveraging IMI's core competencies by sharpening focus on target business areas and reallocating resources toward high-growth, high-margin segments."
IMI remains committed to navigating market challenges with resilience and strategic foresight, ensuring continued innovation and customer satisfaction across its global operations.
Suggested Items
ASC Sunstone Circuits to Exhibit at the Anaheim Electronics & Manufacturing Show (AEMS) 2024
09/16/2024 | ASC SunstoneAmerican Standard Circuits | ASC Sunstone will be exhibiting at the Anaheim Electronics & Manufacturing Show 2024 to be held October 2-3 at the Anaheim Conventions Center in Anaheim, California.
GPV Prioritizes Machine Safety with New Campaign
09/16/2024 | GPVGPV, a leading provider of advanced manufacturing services, is proud to announce the launch of its new Machine Safety Campaign. This campaign is part of the company's ongoing commitment to promoting safety and preventing accidents within the workplace.
Vuzix Receives $10 Million First Tranche Investment from Quanta Computer
09/16/2024 | PRNewswireVuzix® Corporation, a leading supplier of smart glasses and Augmented Reality (AR) technology and products, is pleased to announce that it has completed the closing of the first investment tranche, for the sale of $10 million in common stock at $1.30 per share, under its previously announced September 3, 2024 purchase agreement with Quanta Computer Inc.
Aspocomp to Showcase Expertise at European Microwave Exhibition
09/16/2024 | AspocompAspocomp, a leading provider of advanced printed circuit board (PCB) solutions, is excited to announce its participation at the European Microwave Exhibition (EuMW) 2024.
The ICAPE Group Announces a Major Acquisition to Become One of the Leading Players in PCB Distribution in Japan
09/16/2024 | BUSINESS WIREThe ICAPE Group, a global technology distributor of printed circuit boards (PCB) and custom-made electromechanical parts, announced the signature of a contract for the acquisition of 100% of the capital of the Japanese group NTW, specialized in the distribution of PCB in Asia, Completion of the acquisition is subject to customary suspensive conditions, and is expected to take place on September 19, 2024.