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© stevanovicigor dreamstime.com Electronics Production | November 21, 2017

IMI's Q3 revenues soar 29% YoY

EMS provider, Integrated Micro-Electronics Inc. (IMI), recorded revenues of USD 795.2 million for the first nine months of 2017, an increase of 29% year-on-year.
The sharp increase in revenues are due to positive effects of recent acquisitions and a rising demand in the automotive and industrial segments, the company states in a press release. Net income also improved by 16% to USD 24.1 million compared to last year.

Arthur Tan, IMI chief executive officer, says, “IMI today is different from the IMI more than ten 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 the company’s operations in Europe and Mexico surged 15% year-on-year to USD 263.4 million during the first nine months – this was mainly driven on by an increase in demand for automotive lighting. Ongoing expansions and new product introduction carried out in Mexico plant to support North America requirements also bolstered the group revenues. The Philippine operations increased 4% to USD 197.9 million.

The company’s China operations posted USD 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 USD 136.2 million in revenues.

New project wins for the year have reached USD 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.

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December 13 2017 10:15 PM V8.9.2-1