IMI tripples its income in 2014

The corresponding net income reached USD 29.1 million, almost thrice that of last year’s USD 10.5 million. Arthur Tan, IMI president and chief executive officer, says, “The year 2014 was a banner year for IMI as we outperformed the EMS industry’s single-digit growth rate and our financial targets. Our global presence and market diversity took advantage of the recovery of the international markets and electronics segments.” IMI China operations posted USD 325.6 million revenues, up 17.5 percent from last year’s primarily due to volume expansion in the telecommunications segment. The company benefitted from China’s 4G rollout by way of increased demand for infrastructure devices. The company’s Europe and Mexico operations contributed 32 percent to the full year revenues. With the sustained expansion of the automotive business in IMI Bulgaria, revenues went up 14.4 percent to USD 268.6 million year-over-year driven by the steady growth rate of global automotive production in 2014. EMS operations in the Philippines recorded USD 204.9 million in revenues, an 8.3 percent year-on-year growth bolstered by the expansion of businesses in storage device and automotive electronics. PSi Technologies Inc., IMI’s subsidiary, posted USD 44.9 million in revenues, up 4.3 percent year-over-year due to increased demand for power semiconductors. “IMI will continue on a profitable growth track as we continue to grab opportunities for high-value outsourcing in the telecommunications infrastructure, automotive, industrial, and medical electronics markets,” Tan adds.