LAGUNA, PHILIPPINES – Integrated Micro-Electronics Inc. reported first-half net income fell 22% from last year to $4.7 million. Last year's results included a nonrecurring insurance gain.

The electronics manufacturing services provider said revenue rose 11% from last year to $188.8 million on demand from a broad array of end-markets. Sequentially, revenue grew 9% to $98.3 million.

Arthur Tan, IMI president and chief executive officer, said, “Larger orders from our major customers in the storage device, telecommunication infrastructure, automotive, consumer, and industrial electronics markets have buoyed our revenues. These customers experienced a rise in the demand for their products.

Economic recovery, despite the slow and bumpy pace, has shored up the end-consumers’ confidence. They have resumed spending on technology, as evidenced by the more than 40% year-on-year growth in worldwide sales of semiconductors. Chip sales have been bolstered by the strong demand for personal computers, cell phones, and other electronic devices.”

The company’s operations in China and Singapore posted $116.3 million in revenues in the first half, up 19% year-on-year. They accounted for 62 percent of IMI’s total revenues. Philippine operations recorded $72.4 million in revenues, flat with 2009.

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