IMI logs $13M net income

Business.(Business File photo)

INTEGRATED Micro-Electronics Inc. reports total group revenues of US$1.3 billion, six percent lower than in the previous year, driven by factors attributable to its non-wholly owned subsidiary group including the shorter fiscal year of STI Enterprises Limited which was divested on Oct. 31, 2023.

Group net loss was $109.2 million, with one-time losses of $106.1 related to the sale of STI and impairment of goodwill and certain assets.

Group non-generally accepted accounting principles operating income excluding one-off items was $12 million vs. US$9.3 million in 2022.

Meanwhile, wholly-owned subsidiaries maintained the momentum from 2022, with revenues on par with the previous year, and better profitability margins netting a reported net income of $13 million, up 14 percent vs. 2022. / PR


No stories found.

Just in

No stories found.

Branded Content

No stories found.
SunStar Publishing Inc.