IMI narrowed losses in Q1

MANILA -The Ayala Group’s electronics manufacturing arm, Integrated Micro-Electronics Inc. (IMI), sharply narrowed losses in the first quarter of 2023 after raising prices while keeping costs in check.

Losses from January to March this year fell 63 percent to $749,000 while revenues during the period rose 4 percent to $347 million, a stock exchange filing on Tuesday showed.

“ adjusting our selling prices in collaboration with our customer partners, as well as continued cost reduction initiatives, we are gradually improving the financial performance of the company,” IMI president Jerome Tan said in a statement.

IMI specializes in quality electronics for a variety of industries,…

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