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Integrated Micro-Electronics Inc. (IMI) said profit for the first quarter of the year reached $2.2 million, a reversal from the prior year’s $5.04 million loss.
Revenues reached $328 million, up 28 percent from $256 million, amidst tight supply levels in the electronics component market.
Top line sales grew 28 percent compared to the same period in 2020 which was impacted by the initial stages of the pandemic.
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Gross profit margin grew to 8.8 percent compared to 7.6 percent in the previous year.
IMI the continued recovery of mobility and industrial end-markets helped its wholly-owned businesses to grow 22 percent year-on-year to $255 million.
