Sales boost for Philippines-based manufacturer

Philippines-based electronics manufacturing service company Integrated Microelectronics has posted US $23 million in consolidated sales revenues in the first quarter of this year.

Philippines-based electronics manufacturing service (EMS) company Integrated Microelectronics (IMI) has posted US $23 million in consolidated sales revenues in the first quarter of this year - up 17% from the same period last year.

IMI President and CEO Arthur R Tan said: "The company sustains growth despite a delay in the recovery of the global electronics industry with its ability to offset end-market weakness by tapping into progressive niche segments such as mobile PCs." He added: "Manufacturing operations remain robust as major customers, which are industry leaders in the field of storage devices, continue to expand their outsourcing volumes." IMI has benefitted from strong market demand for CD recordable/rewritable (CD-R/RW) drives and hard disk drives for portable PCs.

IMI has also expanded its customer service centre for the repair and failure analysis of hard disk drives.

According to Tan: "IMI's outlook for 2003 is very positive.

We anticipate 10 to 15% growth in consolidated revenues, banking on the expansion programmes of major customers as well as on the volume ramp-up for new customers in automotive and consumer electronics fields." Electronics manufacturing consulting company Technology Forecasters is projecting 7% growth for the global EMS industry in 2003.

Last year, IMI recorded US $82 million in total revenues, a 15% increase over the previous year's revenues, despite a 7% contraction in the global EMS industry.

Favourable market conditions in mobile computing and security access control segments augmented volume orders from several of IMI's major customers Net income after tax grew by 9% from the previous year.

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