-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IMI Sustains Continued Growth Despite Industry-wide Macroeconomic Issues
August 3, 2022 | IMIEstimated reading time: 1 minute
Integrated Micro-Electronics, Inc. (IMI) posts US$357 million of revenues in the second quarter of 2022, a sequential 7% growth compared to the first quarter of 2022 and 12% better than the same period last year. The slow recovery of the industry-wide component shortage situation was aggravated by the continued rise of inflation, shortage of skilled labor, and foreign currency depreciation against the US dollar. These headwinds have impacted IMI margins with a net loss of US$ 3.5 million for the quarter. The first half of the year ends with US$ 691 million in revenues and a net loss of US$ 5.5 million for the group, while IMI wholly-owned subsidiaries achieved a net income of US$3.6 million.
The strength of the US dollar in the second quarter has affected financial results in IMI’s European and Chinese sites that primarily book contracts in Euro, British Pound, and Chinese Renminbi. Despite these challenges, wholly-owned subsidiaries managed to remain profitable and sustained their quarter-on-quarter sales recovery with US$ 290 million being a 12% growth against the first quarter of the year. VIA and STI on the other hand, continue to be more significantly affected by component shortage issues. Non-wholly owned subsidiaries declined 11% quarter-on-quarter to US$ 67 million in revenues.
“Various macro-economic headwinds continue to affect the entire electronics manufacturing industry. Our management teams across the globe have been working diligently to mitigate the effects on our business and ensure that we are well positioned to maintain IMI’s growth trajectory. By expanding our supply chain network and increasing regional access to components, we aim to reduce raw material costs and minimize reliance on expensive freight services. We are also driving profitability by rolling out industrial excellence initiatives across our facilities,” said IMI president Jerome Tan. “As the business environment begins to normalize, we intend to maintain our streamlined structure and further improve on the efficiency of our operations to drive profitable growth,” Tan added.
IMI marks its 42nd anniversary this month as it continues to drive productivity and innovation as a global force in manufacturing and technology solutions.
Suggested Items
Mycronic Releases Interim Report January–March 2024
04/18/2024 | MycronicNet sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent.
Aspocomp’s Q1 Net Sales and Operating Result Decreased YoY
04/18/2024 | AspocompInflation and interest rates, weak economic development, the uncertainties posed by Russia’s war of aggression and the situation in the Middle East, and global trade policy tensions will affect the operating environment of Aspocomp and its customers in the 2024 fiscal year.
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).
Europe’s IT, Business Services Sector on the Rebound in Q1: ISG Index
04/15/2024 | BUSINESS WIREEurope’s demand for IT and business services in the first quarter rose for the first time in a year, powered by growth from the banking, financial services and insurance (BFSI) sector, according to the latest state-of-the-industry report from Information Services Group (ISG), a leading global technology research and advisory firm.
FTG Announces Q1 2024 Financial Results
04/12/2024 | Firan Technology Group CorporationDuring Q1 2024, the Corporation has continued to invest in technology in existing sites, grow the business organically, and integrate the two acquisitions completed last year. FTG is strategically deploying its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. Specifically, FTG accomplished the following in Q1 2024, which continues to improve the Corporation and position it for the future: