Integrated Micro-Electronics Inc. (IMI) said profit in the first nine months of the year reached $806,000 out of revenues of $351 million.
The company said it realized a gross profit of $8.1 million for a profit margin of 8.1 percent.
The company however failed to provide comparative figures in its regulatory filing and has yet to release its quarterly financial statement.
“IMI has executed various cost recovery programs that aim to recoup lost profits due to the increased raw material cost from the extended component shortage of the past two years. Despite continuing challenges from the weak Euro and Renminbi, and inflationary pressure in labor and energy markets, core businesses ushered improvements in financial performance, with wholly-owned subsidiaries achieving $ 3.8 million of net income in the third quarter,” it said.
“VIA Optronics and STI Limited margins, on the other hand, have improved against the previous quarters at a slower pace as they continue to face challenging competitive landscapes; these non-wholly-owned subsidiaries ended the quarter with a combined net loss of $ 3 million,” it added.
Jerome Tan, IMI president, said the company remains focused on the successful ramp-up of recent key wins in the electric vehicle space that are expected to help drive the company’s growth moving forward.
