Integrated Micro-Electronics, Inc. (IMI) saw its attributable profit decrease by 36% in the first quarter of 2018 amid a double-digit topline growth, dragged by the one-off expense due to its Shenzhen relocation.
In a disclosure to the stock exchange Thursday, April 26, the Ayala-led electronics manufacturer reported a net income attributable to the parent of $5.56 million, versus the $8.7 million it booked in the same period a year ago.
This includes a one-off expense of $3 billion, incurred during the transfer of its Shenzhen operations to another part of the city. Without this, the company’s earnings would have stood at $8.6 million, still flat from year-ago levels. — Arra B. Francia

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