Profitability at the electronics manufacturing arm of the Ayala Group nearly tripled last year.
In a disclosure to the Philippine Stock Exchange, Integrated Micro-Electronics Inc (IMI) said it earned $29.1 million in 2014, or nearly a three-fold rise from the $10.5 million the previous year.
“The year 2014 was a banner year for IMI as we outperformed the EMS industry’s single-digit growth rate and our financial targets. Our global presence and market diversity took advantage of the recovery of the international markets and electronics segments,” said Arthur Tan, IMI president and CEO.
A leading global provider of electronics manufacturing services (EMS) and power semiconductor assembly and test services, IMI has manufacturing facilities in Asia, Europe, and North America, and serves the automotive, industrial, medical, telecommunications infrastructure, storage device, and consumer electronics industries.
Revenue rose by 13 percent to $844.5 million from $745.0 million in 2013. The company’s China operations, which contributed more than a third to total revenue, climbed 18 percent year-on-year to $325.6 million, as telecom operators in the world’s second largest economy rolled out 4G to meet demand.
IMI’s operations in Europe and Mexico, which chipped in 32 percent, grew 14.4 percent year-on-year to $268.6 million amid demand in the automotive sector.
In the Philippines, revenue climbed 8.3 percent year-on-year to $204.9 million amid demand from the storage device and automotive sectrs. Subsidiary PSi Technologies Inc grew 4.3 percent to $44.9 million.
“IMI will continue on a profitable growth track as we continue to grab opportunities for high-value outsourcing in the telecommunications infrastructure, automotive, industrial, and medical electronics markets,” Tan said.
“IMI has been able to deliver on its long-term strategies and will continue to do so. We are a growth company playing in an industry that drives the global economy. The market for electronics is still underserved, and we have positioned ourselves in the right market segments,” he added.
IMI closed last year with $117.6 million in cash after a follow-on offering that raised $36 million and the sale of its Singapore property for $17.2 million.
- Interaksyon
Philippines News: FREE
Get an edge on the Philippine Stock Market in this comprehensive tool for Filipinos and foreign investors.
Showing posts with label IMI. Show all posts
Showing posts with label IMI. Show all posts
Monday, February 16, 2015
Tuesday, October 21, 2014
IMI clarification of news reports
Security Name : Integrated Micro-Electronics, Inc.
Date : 10/20/2014
Headline : C05467: IMI clarification of news reports
Content : This is to clarify the news article entitled “IMI eyes 20% hike in capex” posted in Malaya Business Insight (Internet Edition) on October 20, 2014. The article reported in part that: “Integrated Micro-electronics, Inc., (IMI) eyes to increase its capital spending for next year as the company banks on the growth prospects of the firm both locally and overseas. Market sources said the company is looking at a 20 percent increase in capex from last year’s $27 million to expand its growth businesses in the automotive, industrial, medical, and telecommunication industries. ....” There was neither a disclosure nor a statement that the Company eyes 20% hike in capex for next year.
- colfinancial.com
Date : 10/20/2014
Headline : C05467: IMI clarification of news reports
Content : This is to clarify the news article entitled “IMI eyes 20% hike in capex” posted in Malaya Business Insight (Internet Edition) on October 20, 2014. The article reported in part that: “Integrated Micro-electronics, Inc., (IMI) eyes to increase its capital spending for next year as the company banks on the growth prospects of the firm both locally and overseas. Market sources said the company is looking at a 20 percent increase in capex from last year’s $27 million to expand its growth businesses in the automotive, industrial, medical, and telecommunication industries. ....” There was neither a disclosure nor a statement that the Company eyes 20% hike in capex for next year.
- colfinancial.com
Thursday, September 25, 2014
Ayala semiconductor arm's stock surges after pricing follow-on share sale at a premium
Shares in Integrated Micro-Electronics Inc (IMI) surged on Thursday after the Ayala-led semiconductor firm priced its P3-billion follow-on offering at a premium.
In a disclosure to the Philippine Stock Exchange (PSE), IMI said its board of directors cleared the issuance of up to 215 million shares plus an over-allotment option of 85 million shares at an offer price of up to P10 per share.
The offer price represents a 47 percent premium from yesterday's closing price of P6.8 per share. IMI's stock price rose 26.47 percent to P8.60 apiece as of 1:54 p.m.
Proceeds of the offering will be used for capital expenditure, business expansion, refinancing and working capital requirements.
BPI Capital Corp will be the issue manager and lead underwriter for the offering.
IMI is undertaking the much delayed follow-on offering to meet the post-listing requirements of the PSE.
In 2010, IMI joined the local bourse through listing by way of introduction, which allowed the firm's existing stockholders to trade their holdings on the exchange without raising new capital.
Companies that join the bourse through this listing method are required to stage a public offering 12 months after, according to PSE rules.
IMI has been putting off the share sale, saying that its market price is undervalued. The exchange has been penalizing the company for failure to meet its rules.
IMI's net attributable profit grew more than 5 times to $11.3 million in the first half of this year, from $2.1 million a year ago, on strong demand from telecommunications, automotive and storage device markets.
- Interaksyon
In a disclosure to the Philippine Stock Exchange (PSE), IMI said its board of directors cleared the issuance of up to 215 million shares plus an over-allotment option of 85 million shares at an offer price of up to P10 per share.
The offer price represents a 47 percent premium from yesterday's closing price of P6.8 per share. IMI's stock price rose 26.47 percent to P8.60 apiece as of 1:54 p.m.
Proceeds of the offering will be used for capital expenditure, business expansion, refinancing and working capital requirements.
BPI Capital Corp will be the issue manager and lead underwriter for the offering.
IMI is undertaking the much delayed follow-on offering to meet the post-listing requirements of the PSE.
In 2010, IMI joined the local bourse through listing by way of introduction, which allowed the firm's existing stockholders to trade their holdings on the exchange without raising new capital.
Companies that join the bourse through this listing method are required to stage a public offering 12 months after, according to PSE rules.
IMI has been putting off the share sale, saying that its market price is undervalued. The exchange has been penalizing the company for failure to meet its rules.
IMI's net attributable profit grew more than 5 times to $11.3 million in the first half of this year, from $2.1 million a year ago, on strong demand from telecommunications, automotive and storage device markets.
- Interaksyon
Subscribe to:
Posts (Atom)