Laguna–(PHStocks)–Integrated Micro-Electronics Inc. (IMI), one of the leading worldwide providers of electronics manufacturing services (EMS) and power semiconductor assembly and test services, announced a 13 percent revenue growth to $844.5 million in 2014 from $745 million in 2013, outperforming EMS industry’s single-digit growth rate. The corresponding net income reached $29.1 million, almost thrice that of last year’s $10.5 million. The announcement was made during IMI’s annual stockholders’ meeting this afternoon at the Fairmont Hotel in Makati.
Jaime Augusto Zobel de Ayala, chairman of IMI, said, “IMI’s remarkable growth is a result of various drivers— a wider and more diversified geographic footprint, a steady increase in demand from original equipment manufacturer customers, and a deep focus on product innovation and customer service. More importantly, we have improved our use of manufacturing technology and design intelligence in our products and operations.”
IMI president and chief executive officer Arthur Tan said that IMI’s strong performance in 2014 “was partly due to the recovery of the global economy, in particular the United States.”
Tan added, “The strategic activities we started in 2010— focus on the right markets, consolidation of factories, expansion of the global footprint, and development of human capital and equipment—have begun to bear fruit.”
IMI sites posted an increase in revenues compared to last year’s— IMI China up by 17.5 percent; Europe and Mexico operations, by 14.4 percent; Philippines’ EMS operations, by 8.3 percent; and PSi Technologies Inc., IMI’s subsidiary, by 4.3 percent.
At the forefront of innovation
All IMI sites continue to innovate at the assembly lines, strengthening lean manufacturing programs to improve line efficiency. Its technology groups collaborate with one another and with customers to develop platforms or baseline technologies in areas such as camera and imaging, motor drives, power modules, lighting systems, short range wireless, human-to-machine interface, sensors, and medical electronics.
Its Design and Development group in the Philippines focused on enhancing its automotive cameras as part of advanced driver assistance systems (ADAS). In 2014, IMI released samples of two low-voltage differential signaling (LVDS) minicube camera platforms, offering the smallest footprint and demonstrating advanced heat dissipation features.
Also in 2014 IMI’s Advanced Manufacturing Engineering group in Tustin, California, developed a product line of LED lights for high-end applications, an implanted nerve stimulator, and a product line of power modules. Its Test and Systems Development group based in Asia completed projects that included power supply modules and mechanical systems for semiconductor handlers, built-to-configure automated test equipment for semiconductors, and electronic assemblies for computer controlled cutting (CNC) machines and servo-actuator test systems for testing aerospace products.
The Automation group based in IMI Czech Republic developed robot-based systems to enhance plastic injection operations in IMI Mexico and IMI Bulgaria. This competency center also supports the company’s cost-effective automation programs in China.
Aligned with market trends
Tan said IMI is very much aligned with market trends, keeping its focus on high growth and high margin market segments. One such trend is the growing demand for automotive electronics due to the increasing number of cars and their rising electronic content.
IMI is also geared up for technology advancements in the medical field. The reality of doing remote medical diagnosis appears large. According to Tan, the technology is available, and IMI is part of this supply chain.
“We just shipped our prototype for implantable nerve simulators, which will allow wireless long-distance rehabilitation in physical therapy,” said Tan.
Moreover, IMI provides the telecom infrastructure for the Internet of Things (IoT) to happen. According to the McKinsey Institute, the global economic impact of the IoT could reach as high as $2.7 trillion to $6.2 trillion annually by 2025.
A growth company
Tan emphasized that IMI has been able to deliver on its long-term strategies and it continues to grow.
“We’re a growth company, and we see that the market remains underserved; we’re in the right segments, and the customer list that we have comprises the top brands in the business. This speaks volumes about IMI as a company and the products that it builds,” said Tan.