© Integrated Micro-Electronics Inc. Electronics Production | March 05, 2018
IMI passed $1 billion in revenue in 2017
The Filipino-based EMS provider has passed a major milestone. The company reports that its revenues for the full year 2017 hit a record high of USD 1.09 billion, an increase of 29% from 2016.
Integrated Micro-Electronics Inc. says that the revenue growth was accelerated by recent acquisitions and a continued growth in the automotive and industrial market. Net income amounted to USD 34.0 million, a 21% growth year-on-year. “We are eager to build on this success and will ensure that our diverse capability as an organization will sustain our competitive advantage and stronghold in the global market. As a cohesive global company with a shared vision, we aim to design competitive positions and strategies that capitalize on corporate strengths,” Arthur Tan, IMI chief executive officer, says in a press release. Geographically, the company’s revenues from European operations grew 14% year-on-year to USD 276.5 million, benefiting from lighting, controllers and driver assistance systems of its automotive segment. In Mexico, revenues increased 29% to USD 84.2 million, which the company's credits to numerous projects for North America customers entering new product introduction phase throughout the year. In China the company’s operations posted USD $271.1 million in revenues, up 4% year-on-year despite the delay in new technology roll-out in the telecom infrastructure business. For the company’s home market in the Philippines, operations increased 4% to USD 263.7 million strengthened by new industrial applications and automotive camera business.