LISTED Integrated Micro-Electronics Inc. (IMI) saw its net income drop to $5.8 million in the first six months of 2019 amid challenges faced in the market. In a filing on Thursday, the Ayala-led manufacturing-solutions provider said the figure was an 81.6-percent plunge from the $31.6 million recorded in the same period last year. Consolidated revenues, it added, also fell by 5 percent to $636 million from $668.8 million year-on-year. IMI said its “profitability remains challenged by a lower volume demand on our new programs, where we have invested additional fixed overhead, the persistent component shortages which drove higher material prices, and the delays of new generation chipsets affecting Via Optronics revenues.” Shares of IMI fell by 30 centavos or 3.16 percent to close at P9.20 apiece on Thursday.
IMI profit down 81.6% in Jan-June
OTHER STORIES
RCBC raises over P3B from bond issuance
LISTED Rizal Commercial Banking Corp. (RCBC) has raised over P3 billion in fresh funds from its latest bond issuance. In a statement on Thursday,...
AboitizPower bullish on higher 2020 earnings
LISTED AboitizPower Corp. is counting on some of its power plants that will go online to bolster its bottom line next year, according to...
BDO Leasing posts P38.5-M loss in first 3 quarters
BDO Leasing and Finance Inc. reported a net loss of P38.5 million in the first nine months of the year, reversing the P248 million...
TV5 eyes digital TV to kick off by 2020
TV5 Network Inc. targets to start shifting to the digital terrestrial television (DTT) network in 2020 in line with the government’s plan to shift...
Magnitude 5.7 quake hits Davao Occidental — Phivolcs
A magnitude 5.7 earthquake struck Davao Occidental on Thursday night, the Philippine Institute of Volcanology and Seismology (Phivolcs) said. Phivolcs spotted the epicenter of the...
Duterte accuses water firms of ‘economic plunder’
PRESIDENT Rodrigo Duterte on Thursday renewed his tirades against Manila Water Company Inc. and Maynilad Water Services Inc., accusing the concessionaires of committing "economic...
PH loses to Thailand in SEA Games women’s volleyball
THE Philippines lost to defending champion Thailand, 16-25, 22-25, 32-34, on Thursday in 30th Southeast Asian Games women's volleyball tournament at the Philsports Arena in...
Filipino boxer Suarez beats Myanmar’s Paing to barge into semifinals
OLYMPIAN Charly Suarez defeated Myanmar’s Min Ankar Paing to barge into the semifinals where he is assured of a bronze medal in the lightweight class of the 30th...
500,000 PH voters abroad deactivated — DFA
THE Commission on Elections (Comelec) has deactivated 578,185 overseas voters for failing to participate in the 2016 and 2019 national and local elections. The Department...
Today’s Front Page December 06, 2019
Today’s Front Page December 06, 2019