IMI revenues reach $347M in Q4, $1.14B in 2020

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.

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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.

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Article and Photo originally posted by Manila Times last February 25, 2021 and written by Eireene Jairee Gomez.

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