-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box 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.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IMI Reports $412 Million Revenue in 2010; Up 4% YoY
February 24, 2011 | IMIEstimated reading time: 1 minute
Integrated Micro-Electronics Inc. (IMI) recorded US $412.3 million in consolidated revenues for the twelve months ended December 31, 2010. This represents a year-on-year growth of 4% due to the sustained strong performance of IMI’s China operations and incremental revenues from its acquisition of PSi Technologies, Inc.
IMI posted a positive income of US $4.7 million with a 3%return of equity and earnings-before-interest-taxes-depreciation-and-amortization (EBITDA) of US $28.4 million, or an EBITDA margin of 7%.
Arthur Tan, IMI president and CEO, said, “Despite unusual levels of uncertainty in the supply and demand situations for raw materials and electronic end-products, IMI sustained its profitability through intensified cost-cutting and operational streamlining initiatives. We were considerably impacted by the declining consignment or captive business with some of our Japanese original equipment manufacturer (OEM) customers, the rising costs of materials and labor in China, and the appreciation of the Philippine peso.”
Tan added, “IMI remains financially robust, ending the year with a cash balance of US $38 million. Our debt-to-equity ratio stays healthy at 0.33:1.0. Moreover, we have sufficient credit facilities to support funding requirements of our expansion program.”
The combined China and Singapore operations generated US $248.8 million in revenues, accounting for 60.4% of total IMI revenues. This represents a 25% year-on-year growth due mainly to larger orders from major customers in the telecommunication infrastructure, industrial and consumer electronics markets.
IMI’s acquisition of 56% shares of PSi Technologies in October 2010 generated additional sales of US $19.3 million in the fourth quarter of the year. This placed IMI at the forefront of the growing convergence of power semiconductor assembly and test services (SATS) and EMS, allowing the company to offer its customers optimized power solutions in multichip modules (MCMs), and serve emerging markets like electric vehicle, smart power, and smart sensor technologies.
About IMI
Integrated Micro-Electronics Inc. (IMI) is a leading provider of EMS and power semiconductor assembly and tests services. It serves diversified markets that include those in the automotive, industrial, medical, solar energy, telecommunications infrastructure, storage device and consumer electronics industries. Committed to cost-effective and top-quality customized solutions, IMI's comprehensive capabilities and global manufacturing presence allow it to take on specific outsourcing needs. IMI's flexible solutions encompass design and product development, manufacturing, and order fulfillment. IMI is consistently ranked among the top 30 EMS providers in the world. For more information, visit http://www.global-imi.com/.