C01899-2024 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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COMMON (net of Treasury Shares) | 2,217,293,215 |
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Subject of the Disclosure |
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IMI Core Business Sustains Path to Recovery with US$ 13 Million of Net Income for the Year |
Background/Description of the Disclosure |
April 3, 2024, Laguna, Philippines — Integrated Micro-Electronics, Inc. (IMI) reports total group revenues of US$1.3 billion, 6% lower than 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 October 31, 2023. Group net loss was at US$109.2 million, with one-time losses of US$106.1 related to the sale of STI and impairment of goodwill and certain assets. Group non-GAAP operating income excluding one-off items was US$12.0 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 US$13 million, an improvement of 14 percent vs 2022. |
Other Relevant Information |
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Name | Laurice Dela Cruz |
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Designation | Compliance Officer |