Integrated Micro-Electronics Inc. (IMI) reported a $4.6-million net loss in the first quarter of 2020 amid the coronavirus disease 2019 pandemic. Gross profit also saw a 33-percent slump to $19.5 million from $29.1 million in 2019. IMI’s wholly owned businesses, on the other hand, saw its revenues plummet by 19 percent to $209 million. Revenues in its units in Asia, Europe and North America experienced a 15- to 20-percent decline as the pandemic affected operations. IMI eyes additional business opportunities in the medical and telecommunications segments amid the challenging global economic climate.

Source: Manila Times May 01, 2020 17:03 UTC