-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueAdditive Manufacturing
In this month’s issue, we explore additive manufacturing technology for the PCB fabricator: where it stands today, the true benefits, and where it seems to be headed.
The Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
IMI Posts $290 Million of Revenues for Q1 of 2024
May 10, 2024 | IMIEstimated reading time: 1 minute
Integrated Micro-Electronics, Inc. (IMI) reports group revenues of US$290 million for Q1 2024, 16% lower than the previous year, partly due to the divestment of STI which was still contributing revenues to the company last year. Cost rationalization activities have mitigated the drop in revenues to maintain IMI core operating margin at 2.4%, which sits at a similar level to 2023. Net loss for the group totaled US$3.7 million in the first quarter of 2024.
Led by the European market, IMI’s automotive segment continues its path to recovery with Q1 revenues beating the previous year by 6%. On the other hand, the industrial segment remains challenged as IMI clients are still seeing softness in their end-consumer markets. This has delayed the depletion of existing stocks in the supply chain and reduced ordering across this space for IMI. Pockets of component shortages remain for certain parts, leading to business backlogs that will be cleared as the availability of materials continues to normalize.
Effective May 1, 2024, Louis Hughes was appointed as Chief Executive Officer for IMI. “It is an honor to take on the responsibility as CEO for a great company like IMI which has ingrained such a rich culture in its employees across the globe. The deeply rooted partnerships it has forged with key customers and suppliers in the industry are a testament to the successful history the company has built over the past four decades. We have all witnessed the challenges that IMI has had to overcome these past several years, and I recognize the work that must be done to bring the company back to better profitability. Together with our new Chief Financial Officer Robert Heese, I am excited to work with the brilliant roster of talent in IMI and unitedly enact the changes necessary to bring better financial results and maximize shareholder value,” stated Hughes.
Suggested Items
Real Time with… IPC APEX EXPO 2024: The Success and Future of IPS's Vertical Technology
05/13/2024 | Real Time with...IPC APEX EXPOMike Brask reports on his experience at the show, telling us about the buzz surrounding the vertical technology offerings at IPS, and its benefits. He highlights their customer-centric approach, future growth strategies, and the challenges in workforce management. The conversation also touches upon their recruitment strategies and expresses optimism for the industry's future.
IMI Welcomes New CEO
05/03/2024 | IMIIntegrated Micro-Electronics, Inc. (IMI),The IMI Board of Directors announced, in a disclosure dated April 25, 2024, the appointment of Louis Sylvester Hughes, Chief Executive Officer (CEO).
IMI Championing Collaborative Partnerships
04/30/2024 | IMIIntegrated Micro-electronics, Inc. (IMI) held its virtual 2024 Annual Stockholders Meeting at Fairmont Hotel Makati on Thursday, 25 April 2024.
Arlon Electronic Materials Awarded Requalification to IPC-4101 QPL for All Polyimide Specification Sheets
04/29/2024 | IPCIPC's Validation Services Program has awarded Arlon Electronic Materials Division, an electronics material manufacturing company headquartered in Rancho Cucamonga, Calif., an IPC-4101 Qualified Products Listing (QPL) requalification for the third time.
Real Time with… IPC APEX EXPO 2024: Plasmatreat: Innovative Surface Preparation Solutions
04/25/2024 | Real Time with...IPC APEX EXPOIn this interview, Editor Nolan Johnson speaks with Hardev Grewal, CEO and president of Plasmatreat, a developer of atmospheric plasma solutions. Plasmatreat uses clean compressed air and electricity to create plasma, offering environmentally friendly methods for surface preparation. Their technology measures plasma density for process optimization and can remove organic micro-contamination. Nolan and Hardev also discuss REDOX-Tool, a new technology for removing metal oxides.