-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IMI Posts Record-High Quarterly Revenues in Q4 2020
February 24, 2021 | IMIEstimated reading time: 2 minutes
With demand for electronics products continuing to rise, Integrated Micro-Electronics, Inc. (IMI) achieved its highest quarterly performance with a revenue record of US$347 million in the fourth quarter of 2020, an increase of 12% over the same period in 2019. The strong rebound of IMI’s focus segments, along with improved manufacturing efficiency, drove fourth quarter gross margin levels from 7.4% in 2019 to 10.3% in 2020. Non-GAAP net income of US$18.1 million was partly offset by non-operating adjustments including mark-to-market losses on minority interest put options, asset impairments, and insurance provisions, resulting in a reported net income of US$ 8.4 million for the quarter. For the full year, revenues totaled US$ 1.14 billion while net loss further narrowed to $US3.5 million.
“I am thrilled with IMI’s display of disciplined execution, delivering incredible results to close out a challenging year,” said IMI President and CEO Arthur Tan. “With a streamlined organizational structure and focus on our long-term strategies, we delivered productivity improvements, sustained operating margin expansion, and improved cash flows. I am extremely proud of every IMI team member worldwide, whose tireless and dedicated work allowed us to meet the needs of our diverse customer base in spite of this global pandemic.”
Wholly-owned businesses grew 6% year-on-year to US$262 million of revenue in the fourth quarter. The global demand for security and I-o-T products boosted industrial revenue while mobility-focused European and North American facilities benefitted from the rapid rise of global automotive production. In addition, IMI’s growing foothold in the profitable medical segment also led to increased higher margin sales for its manufacturing plants in Asia. To mitigate the effects of the pandemic, IMI successfully collaborated with local government units to secure various forms of employee related subsidies in Bulgaria, China, Czech Republic, France, Mexico, Serbia, and Singapore.
Non-wholly owned subsidiaries Via Optronics and STI Ltd. finished the year with US$86 million of combined revenues in the fourth quarter, a growth of 36% compared to the same period in 2019. Via Optronics continues its shift towards automotive display solutions by partnering with leading manufacturers in both traditional and electric vehicle spaces. Meanwhile, STI Ltd is buoyed by the continued growth of its medical segment and recovery of the aerospace and defense markets. The financial information included herein for the fourth quarter and full year 2020 for Via Optronics and STI Ltd. may change; however, IMI does not expect any such changes to be material, in the aggregate, to IMI.
“This year, we find ourselves at the forefront of key technology megatrends. We continue to expand our role in mobility, connectivity, and smart energy to enable the sweeping shift towards electric vehicles and automated driving. However, we are also cognizant of the ongoing uncertainties in the electronics manufacturing supply chain. IMI teams have been coordinating closely with our partners to ensure minimized business disruptions throughout the year. We are confident in sustaining the momentum we achieved in the second half of 2020 and we look forward to a year of profitable growth and innovation,” added Tan.
Suggested Items
Warm Windows and Streamlined Skin Patches – IDTechEx Explores Flexible and Printed Electronics
04/26/2024 | IDTechExFlexible and printed electronics can be integrated into cars and homes to create modern aesthetics that are beneficial and easy to use. From luminous car controls to food labels that communicate the quality of food, the uses of this technology are endless and can upgrade many areas of everyday life.
Book Excerpt: The Printed Circuit Assembler’s Guide to... Factory Analytics
04/24/2024 | I-Connect007 Editorial TeamIn our fast-changing, deeply competitive, and margin-tight industry, factory analytics can be the key to unlocking untapped improvements to guarantee a thriving business. On top of that, electronics manufacturers are facing a tremendous burden to do more with less. If you don't already have a copy of this book, what follows is an excerpt from the introduction chapter of 'The Printed Circuit Assembler’s Guide to... Factory Analytics: Unlocking Efficiency Through Data Insights' to whet your appetite.
Listen Up! The Intricacies of PCB Drilling Detailed in New Podcast Episode
04/25/2024 | I-Connect007In episode 5 of the podcast series, On the Line With: Designing for Reality, Nolan Johnson and Matt Stevenson continue down the manufacturing process, this time focusing on the post-lamination drilling process for PCBs. Matt and Nolan delve into the intricacies of the PCB drilling process, highlighting the importance of hole quality, drill parameters, and design optimization to ensure smooth manufacturing. The conversation covers topics such as drill bit sizes, aspect ratios, vias, challenges in drilling, and ways to enhance efficiency in the drilling department.
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Winner of The Science Show Rakett 69 Receives Incap Scholarship
04/24/2024 | IncapThe winner of the Rakett 69 science show, Andri Türkson, who stood out as an electronics enthusiast, received a scholarship from Incap Estonia, along with an internship opportunity in Saaremaa.