AYALA-LED Integrated Micro-Electronics Inc.’s (IMI) revenues rose by 12 percent to a $347 million in the fourth quarter of 2020, which it attributed to improved manufacturing efficiency as demand for electronics products continued to rise.
For full-2020, revenues reached $1.14 billion while its net loss narrowed to $3.5 million from $7.7 million in 2019.
During the last quarter, revenues from IMI’s wholly owned businesses climbed by 6 percent to $262 million.
IMI said global demand for security and Internet of Things products boosted industrial revenue while mobility-focused European and North American facilities benefited from the rapid rise of global automotive production.
A growing foothold in the profitable medical segment also led to improved higher margin sales for its manufacturing plants in Asia, the firm added.
IMI shares decreased by 2 centavos or 0.15 percent to end at P13 each on Wednesday.
Article and Photo originally posted by Manila Times last February 25, 2021 and written by Eireene Jairee Gomez.