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Integrated Micro-Electronics, Inc. (IMI), a global electronics manufacturing services provider, announced its financial results for the first half of 2026.
Revenues for the first six months of the year reached US$465 million, a 4% growth from US$446 million of core revenues in the same period of 2025. Growth was driven by higher volumes from automotive camera and lighting programs, medical segment customers, and continued momentum in the company's power module business.
The stronger top line was accompanied by margin gains, improving profitability metrics across the board when compared to last year’s first half core results. Gross profit increased to US$48.7 million from US$38.6 million in 2025, lifting gross margin to 10.5% from 8.7%. EBITDA rose to US$36.8 million from US$32.6 million, while net income reached US$14.0 million, 50% better than the US$9.4 million reported in the first half of 2025.
The results reflect progress across several areas of the business. Over the past two years, IMI has optimized its manufacturing footprint, strengthened sourcing and pricing discipline, improved factory utilization, and sharpened its commercial focus. These efforts have improved operating performance while creating a stronger platform for growth.
Cash generation remained solid during the first half. IMI generated US$26.8 million in operating cash flow and repaid US$17.6 million of debt, reducing total borrowings to US$178.5 million as of June 30, 2026. The ending net debt of US$99 million remains below the company's target range and is significantly lower than levels seen just two years ago.
The company also continued to strengthen its position in markets where electronic content and system complexity are increasing. Louie Hughes, Chief Executive Officer of IMI, said:
“The first half shows that we're moving in the right direction. We delivered revenue growth, expanded margins and significantly increased net income, all while continuing to reduce debt.
Much of the work over the past two years has been about building a stronger foundation for the business. We've streamlined our footprint, improved operational discipline and strengthened the balance sheet. Those changes are now beginning to show up more clearly in our results.
We're particularly encouraged by the progress we're seeing in cameras, lighting, industrial applications, plastic injection, and power modules. These are areas where we believe IMI has strong technical capabilities and meaningful opportunities to grow.
We've built a more focused and resilient company. Our priority now is to translate that into sustainable growth and long-term value for our stakeholders.”
