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© adam121 dreamstime.com Electronics Production | February 12, 2016

IMI Reports 2015 income of $28.8 million

Integrated Micro-Electronics Inc. (IMI) recorded a full year 2015 net income of USD 28.8 million, almost flat from USD 29.1 million in 2014.
IMI president and chief executive officer Arthur Tan said, “Against the backdrop of a challenging global marketplace, we expanded operating margin by 114 basis points and generated USD 49.8 million of cash flow from operations by focusing on high-margin auto and industrial segments and continued productivity improvements.”

The company’s consolidated revenues of USD 814.4 million went down by 4 percent YoY due mainly to a weak Euro and the downturn in the computing and telecommunications segments. Excluding the impact of changes in currency exchange, automotive revenues climbed by 21 percent during the year and total revenues by 2 percent.

The revenue headwinds were offset by IMI’s volume growth in the automotive segment. In particular, its advanced driver assistance systems or ADAS programs (such as automotive camera programs) posted a 66 percent increase in revenues in 2015.

Tan said, “We maintained profitability as we continue to make advances on the initiatives we started some five years ago– focus on high-margin segments, full integration of acquisitions, rationalization of costs, expansion of global footprint, and development of human capital and equipment.”

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