MANILA, Philippines — Integrated Micro-Electronics Inc. (IMI), the Ayala-led global manufacturing and technology solutions experts, reported a net income of $45.5 million for 2018, up 35 percent.
“We continue to prove the strength of our dual growth model. Revenues grew 24 percent to $1.35 billion and net income rose 35 percent to $45.5 million despite macro-driven challenges on the supply side,” IMI chief executive officer Arthur Tan said in his speech.
He said the traditional business delivered $1.04 billion in revenue, up 16 percent from the previous year while revenue from recently acquired companies such as VIA Optronics and STI Limited accelerated 61 percent to a combined $312.4 million.
The company held its annual stockholders meeting yesterday in its Laguna manufacturing plant.
For his part, Giles Bernard, president and COO of the company, said the traditional business pipeline has progressed with $320 million in new project awards last year. Of the projects, 72 percent are for automotive applications, while 19 percent for the industrial segment.
“The update of more electronics in the car through advanced driver assistance systems, body electronics lighting, power management, safety systems and infotainment are driving businesses for IMI globally,” Bernard said.
He also announced that IMI now ranks 17th in the latest Manufacturing Market Insider’s top 50 list of electronic manufacturing services companies in the world based on 2018 revenues.