IMI narrows net loss to $9.2M in Jan-Sept

By Earl John Alfaro

Nov 05, 2024 12:19 am

AYALA-LED Integrated Micro-Electronics Inc. (IMI) managed to narrow its net loss to $9.2 million in the first nine months of 2024 from $85.26 million in the same period last year, even as it continued to navigate uncertainties in the automotive market and as its industrial customers right-sized their inventory levels.

'We are navigating the turbulent waters of the electronics market this year with both agility and decisiveness,' IMI Chief Executive Officer Louis Hughes said.

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