AYALA-LED Integrated Microelectronics Inc. (IMI) said its rank went up by a notch to become the world’s seventh-largest electronic manufacturing services providers on the automotive sector.
IMI quoted the paper of New Venture Research, which based its rankings on the 2014 revenues of firms around the world that provide services to the automotive sector.
IMI’s ranking was up by one notch from the previous year’s eighth place.
The company’s revenues in the automotive segment rose 16 percent to $321 million last year from $276 million in 2013 mainly due to the steady global-growth trend and the normalization of the European market.
“The company outperformed the average rise of total automotive electronics manufacturing services of 9.9 percent over the same period. This shows not only the long-term growth potential of the automotive market in electronics, but also IMI’s commitment to widen and strengthen its foothold in the industry,” the company said.
IMI said its income rose 35 percent for the first half of the year, mainly as a result of its operational improvements as the company weathers foreign-exchange losses that dragged the operations of its international units while global demand for computing products eased.
The company said its income increased to $15.2 million from $11.3 million in the same period last year. Revenues for the period reached $416.3 million, a decline by 3 percent from last year’s $430.91 million.
The electronic-manufacturing services operations in the Philippines generated revenues of $109.5 million, also flat from last year, as the growing services for the automotive segment and backlog recoveries from industrial customers have offset the anticipated slowdown in demand for computer peripherals.
“Moving forward, we are confident that the company will benefit from the positive outlook for the advanced economies for this year and 2016. Our healthy pipeline will soon translate to new businesses, especially in the automotive and industrial segments,” the company said.
IMI provides product development and manufacturing services to the global automotive market. It also develops platforms or baseline technologies for driver assistance systems, safety-related control devices, electronic steering, and ignition modules.