AYALA-LED electronics manufacturing arm Integrated Micro-Electronics, Inc. (IMI) trimmed its net loss in 2024 to $36.5 million from $109.2 million a year earlier after undertaking a comprehensive global restructuring to address prolonged recovery challenges.
In a disclosure to the Philippine Stock Exchange (PSE) on Monday, IMI said that "the one-time expenses related to its restructuring initiative, along with additional provisioning in the company's balance sheet, resulted in a core net loss of $24.6 million for 2024 and an additional $11.9 million related to impairment of goodwill from our non-core subsidiary."
