Earnings / IMI logs $326M revenues in 3rd Quarter

·1 min read

INTEGRATED Micro-Electronics Inc. (IMI) has posted US$326 million of revenues in the third quarter of 2021, a sequential two percent growth against the previous quarter and four percent better than in the same period last year. Customer orders and the project pipeline remain robust as demand for electronic products outpaces global supply. However, additional growth and business margins are still suppressed by challenges in the supply chain as new rounds of government-mandated restrictions slow down the recovery of major suppliers in the component industry. Global freight expenses have also risen dramatically with widespread port congestions and shipping container shortages hindering international operations. IMI gross margins for the third quarter are at 5.6 percent, leading to a net loss of $6.2 million. The first nine months of the year ended with $973 million in revenues and a net loss of $5.3 million. (PR)

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