Integrated Micro-Electronics Inc. (IMI) widened its loss by 52.78 percent to $5.5 million in the first half of 2022 from $3.6 million last year.
Revenues grew 6.96 percent to $691 million from last year’s $646 million.
“The slow recovery of the industry-wide component shortage situation was aggravated by the continued rise of inflation, shortage of skilled labor, and foreign currency depreciation against the US dollar,” the company said.
IMI said the strengthening dollar in the second quarter affected financial results in its European and Chinese sites that primarily book contracts in Euro, British Pound, and Chinese Renminbi. “Despite these challenges, wholly-owned subsidiaries managed to remain profitable and sustained their quarter-on-quarter sales recovery,” it said.
IMI said wholly-owned subsidiaries booked a 12 percent growth in revenues to $290 million compared to the first quarter figures.
