MANILA, Philippines — The Ayala-led Integrated Micro-Electronics Inc. (IMI) nearly doubled its net profit in 2013 to $10.5 million, as strong business expansion in Europe and the Philippines allowed the company to defy the global downturn in the global electronics outsourcing industry.
IMI, a leading worldwide provider of electronics manufacturing services (EMS) and power semiconductor assembly and test services, grew its net profit in 2013 on the back of a 12.6-percent growth in revenues to $745 million. Comparative net profit in 2012 was at $5.6 million.
“Our diversification strategy has afforded us extensive global footprint, amplified technical capabilities, and wide-ranging customers, so that despite several challenges we realized higher revenues with corresponding profitability,” IMI president and chief executive officer Arthur Tan said in a press statement on Thursday.
IMI grew its income and margins despite subdued global economic growth in 2013. As such, it outperformed the decline in worldwide electronic equipment production and global electronics outsourcing industry.