Reported Earnings • May 07
First quarter 2026 earnings released: EPS: US$0.002 (vs US$0.001 in 1Q 2025) First quarter 2026 results: EPS: US$0.002 (up from US$0.001 in 1Q 2025). Revenue: US$220.5m (down 11% from 1Q 2025). Net income: US$4.53m (up 38% from 1Q 2025). Profit margin: 2.1% (up from 1.3% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₱3.99, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 33x in the Electronic industry in Asia. Total loss to shareholders of 26% over the past three years. Recent Insider Transactions • Apr 07
CFO & Compliance Officer recently bought ₱1.2m worth of stock On the 30th of March, Robert Heese bought around 430k shares on-market at roughly ₱2.89 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of ₱3.9m worth in shares. New Risk • Mar 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 59% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. New Risk • Mar 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (₱5.81b market cap, or US$96.9m). Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₱2.62, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 28x in the Electronic industry in Asia. Total loss to shareholders of 47% over the past three years. Recent Insider Transactions • Mar 14
CFO & Compliance Officer recently bought ₱201k worth of stock On the 10th of March, Robert Heese bought around 60k shares on-market at roughly ₱3.35 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱2.6m. Robert has been a buyer over the last 12 months, purchasing a net total of ₱2.8m worth in shares. New Risk • Mar 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 08
Full year 2025 earnings released: EPS: US$0.006 (vs US$0.023 loss in FY 2024) Full year 2025 results: EPS: US$0.006 (up from US$0.023 loss in FY 2024). Revenue: US$996.3m (down 9.3% from FY 2024). Net income: US$13.5m (up US$63.3m from FY 2024). Profit margin: 1.4% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 09
CFO & Compliance Officer recently bought ₱276k worth of stock On the 3rd of February, Robert Heese bought around 78k shares on-market at roughly ₱3.54 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱2.6m. Robert has been a buyer over the last 12 months, purchasing a net total of ₱2.8m worth in shares. Recent Insider Transactions • Jan 06
CEO & Director recently bought ₱2.6m worth of stock On the 2nd of January, Louis Hughes bought around 737k shares on-market at roughly ₱3.57 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Louis has been a buyer over the last 12 months, purchasing a net total of ₱8.3m worth in shares. Board Change • Jan 02
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Lead Independent Director Jesse Ong Ang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Nov 21
Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 21, 2026 Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 21, 2026, at 15:00 W. Australia Standard Time. Location: to be announced, Philippines Recent Insider Transactions • Oct 04
CEO & Director recently bought ₱1.1m worth of stock On the 30th of September, Louis Hughes bought around 606k shares on-market at roughly ₱1.80 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Louis has been a buyer over the last 12 months, purchasing a net total of ₱10m worth in shares. Recent Insider Transactions • Sep 04
CFO & Compliance Officer recently bought ₱249k worth of stock On the 2nd of September, Robert Heese bought around 125k shares on-market at roughly ₱1.99 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱679k. Robert has been a buyer over the last 12 months, purchasing a net total of ₱2.8m worth in shares. Recent Insider Transactions • Aug 09
CFO & Compliance Officer recently bought ₱440k worth of stock On the 6th of August, Robert Heese bought around 200k shares on-market at roughly ₱2.20 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱679k. Robert has been a buyer over the last 12 months, purchasing a net total of ₱2.5m worth in shares. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: US$0.002 (vs US$0.002 loss in 2Q 2024) Second quarter 2025 results: EPS: US$0.002 (up from US$0.002 loss in 2Q 2024). Revenue: US$248.7m (down 9.8% from 2Q 2024). Net income: US$4.31m (up US$9.40m from 2Q 2024). Profit margin: 1.7% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Jul 19
CEO & Director recently bought ₱416k worth of stock On the 16th of July, Louis Hughes bought around 180k shares on-market at roughly ₱2.31 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.8m. Louis has been a buyer over the last 12 months, purchasing a net total of ₱8.8m worth in shares. Recent Insider Transactions • Jul 03
CFO & Compliance Officer recently bought ₱259k worth of stock On the 1st of July, Robert Heese bought around 130k shares on-market at roughly ₱1.99 per share. This transaction amounted to 8.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.8m. Robert has been a buyer over the last 12 months, purchasing a net total of ₱2.5m worth in shares. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: US$0.002 (vs US$0.002 loss in 1Q 2024) First quarter 2025 results: EPS: US$0.002 (up from US$0.002 loss in 1Q 2024). Revenue: US$248.5m (down 14% from 1Q 2024). Net income: US$3.28m (up US$6.96m from 1Q 2024). Profit margin: 1.3% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year whereas the company’s share price has fallen by 30% per year. Recent Insider Transactions • Apr 25
CEO & Director recently bought ₱1.8m worth of stock On the 21st of April, Louis Hughes bought around 898k shares on-market at roughly ₱2.04 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Louis has been a buyer over the last 12 months, purchasing a net total of ₱8.1m worth in shares. Board Change • Apr 24
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 8 non-independent directors. Lead Independent Director Jesse Ong Ang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Annonce • Jan 24
Integrated Micro-Electronics, Inc. Announces Strategic Closure of Chengdu Facility to Optimize Operations Integrated Micro-Electronics, Inc. announced the strategic closure of its Chengdu, China facility. This move is part of IMI's ongoing efforts to streamline operations and reduce costs, aligning with the company's strategy to consolidate its footprint into strategically located facilities. Production at IMI Chengdu concluded in December 2024, with all customer commitments successfully met. The remaining customer projects have been seamlessly transferred to other IMI sites. As part of the closure process, IMI will complete the transfer of assets and equipment by the end of January 2025. The facility is scheduled to be formally handed back to the landlord by February 2025. Additionally, IMI is working diligently to comply with local government regulations, initiating a six-month winding up period starting in February 2025. This strategic move is expected to enhance operational efficiency and bolster IMI's capability to deliver high-quality products and services to its global portfolio of customers from its other strategically positioned manufacturing sites. Recent Insider Transactions • Jan 10
Chief Executive Officer & Director recently bought ₱1.1m worth of stock On the 3rd of January, Louis Hughes bought around 650k shares on-market at roughly ₱1.63 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱2.3m. Louis has been a buyer over the last 12 months, purchasing a net total of ₱4.9m worth in shares. Annonce • Jan 02
Integrated Micro-Electronics, Inc. Announces the Retirement of Rosalyn O. Tesoro as Chief Information Officer and Data Protection Officer Integrated Micro-Electronics, Inc. announced the retirement of Ms. Rosalyn O. Tesoro as Chief Information Officer and Data Protection Officer, effective January 1, 2025. Recent Insider Transactions • Dec 10
Chief Executive Officer & Director recently bought ₱2.3m worth of stock On the 6th of December, Louis Hughes bought around 1m shares on-market at roughly ₱1.63 per share. This transaction increased Louis' direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Louis has been a buyer over the last 12 months, purchasing a net total of ₱3.9m worth in shares. Recent Insider Transactions • Nov 23
Chief Executive Officer & Director recently bought ₱549k worth of stock On the 20th of November, Louis Hughes bought around 335k shares on-market at roughly ₱1.64 per share. This transaction increased Louis' direct individual holding by 1x at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱709k. Louis has been a buyer over the last 12 months, purchasing a net total of ₱986k worth in shares. Annonce • Nov 22
Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 22, 2025 Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 22, 2025, at 15:00 W. Australia Standard Time. Recent Insider Transactions • Nov 12
CFO & Compliance Officer recently bought ₱202k worth of stock On the 7th of November, Robert Heese bought around 120k shares on-market at roughly ₱1.68 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱709k. Robert has been a buyer over the last 12 months, purchasing a net total of ₱1.2m worth in shares. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: US$0 (vs US$0.001 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0 (improved from US$0.001 loss in 3Q 2023). Revenue: US$275.2m (down 19% from 3Q 2023). Net loss: US$467.0k (loss narrowed 71% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 26 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Oct 09
CFO & Compliance Officer recently bought ₱293k worth of stock On the 7th of October, Robert Heese bought around 160k shares on-market at roughly ₱1.83 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱709k. Robert has been a buyer over the last 12 months, purchasing a net total of ₱960k worth in shares. Recent Insider Transactions • Sep 04
CFO & Compliance Officer recently bought ₱238k worth of stock On the 2nd of September, Robert Heese bought around 140k shares on-market at roughly ₱1.70 per share. This transaction amounted to 61% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of ₱667k worth in shares. Recent Insider Transactions • Aug 09
CFO & Compliance Officer recently bought ₱172k worth of stock On the 7th of August, Robert Heese bought around 100k shares on-market at roughly ₱1.72 per share. This transaction amounted to 77% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of ₱429k worth in shares. Reported Earnings • Aug 03
Second quarter 2024 earnings released: US$0.002 loss per share (vs US$0.038 loss in 2Q 2023) Second quarter 2024 results: US$0.002 loss per share (improved from US$0.038 loss in 2Q 2023). Revenue: US$275.7m (down 20% from 2Q 2023). Net loss: US$5.10m (loss narrowed 94% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jul 16
CFO & Compliance Officer recently bought ₱140k worth of stock On the 9th of July, Robert Heese bought around 70k shares on-market at roughly ₱2.00 per share. This transaction increased Robert's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of ₱257k worth in shares. Reported Earnings • May 12
First quarter 2024 earnings released: US$0.002 loss per share (vs US$0 in 1Q 2023) First quarter 2024 results: US$0.002 loss per share (further deteriorated from US$0 in 1Q 2023). Revenue: US$290.1m (down 16% from 1Q 2023). Net loss: US$3.67m (loss widened 391% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Annonce • Apr 28
Integrated Micro-Electronics, Inc. Announces Board Changes Integrated Micro-Electronics, Inc. at the AGM held on April 25, 2024 elected the following as directors of the Corporation to serve as such beginning 25 April 2024 until their successors are elected and qualified: Mark Robert H. Uy; Ginaflor C. Oris; Jesse O. Ang (independent director). At its organizational meeting held immediately after the stockholders' meeting, Board of Directors elected: The Chairpersons and Members of the Board and Board-appointed Committees: Executive Committee: Alberto M. de Larrazabal - Chairman; Rafael C. Romualdez - Member; Roland Joseph L. Duchâtelet - Member. Corporate Governance and Nomination Committee: Sherisa P. Nuesa - Chairman; Hiroshi Nishimura - Member; Jesse O. Ang - Member. Finance Committee: Jaime Z. Urquijo - Chairman; Alberto M. de Larrazabal - Member; Rafael C. Romualdez - Member. Audit and Risk Committee: Jesse O. Ang - Chairman; Rafael C. Romualdez - Member; Hiroshi Nishimura - Member. Personnel and Compensation Committee: Sherisa P. Nuesa - Chairman; Jaime Z. Urquijo - Member; Jose Ignacio A. Carlos - Member. Related Party Transactions Committee: Hiroshi Nishimura - Chairman; Rafael C. Romualdez - Member; Jesse O. Ang - Member; Alberto M. de Larrazabal - Member. Proxy Validation Committee: Maria Franchette M. Acosta - Chairman,; Laurice S. dela Cruz - Member; Neilson C. Esguerra - Member. Mr. Jesse O. Ang as lead independent director. Reported Earnings • Apr 04
Full year 2023 earnings released: US$0.049 loss per share (vs US$0.003 loss in FY 2022) Full year 2023 results: US$0.049 loss per share (further deteriorated from US$0.003 loss in FY 2022). Revenue: US$1.33b (down 5.9% from FY 2022). Net loss: US$109.2m (loss widened US$102.4m from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Annonce • Mar 09
Integrated Micro-Electronics, Inc. Announces Appointment of Maria Franchette M. Acosta as Corporate Secretary Integrated Micro-Electronics, Inc. announced the appointment of Ms. Maria Franchette M. Acosta as Corporate Secretary to serve the unexpired term of Mr. Solomon M. Hermosura, who has resigned and transitioned to government service as disclosed on February 26, 2024. Maria Franchette M. Acosta, Filipino, 51, is Corporate Governance Group Head and Chief Legal Officer of Ayala Corporation. She is a practicing lawyer for 24 years, with 18 years in Villaraza & Angangco Law Firm where she was a Senior Partner, Co-Managing Partner and Head of its Corporate and Commercial Department. Ms. Acosta was an Assistant Secretary at the Office of the Chief Presidential Legal Counsel of the Republic of the Philippines where she served from 2001 to 2003. She is recognized as an expert counsel in leading legal journals and publications such as Chambers Global, Chambers Asia Pacific and Legal 500. She is a consistent Asia Business Law Journal's top 100 lawyers of the Philippines. Ms. Acosta graduated from New York University with a Master of Laws in 2003. She ranked 3rd in the Philippine Bar Examination and earned her Bachelor of Laws from the University of the Philippines College of Law in 1998 where she graduated Class Valedictorian and Cum Laude. She holds a Bachelor of Science in Business Economics from the University of the Philippines School of Economics in 1994 where she graduated Magna Cum Laude. Annonce • Feb 27
Integrated Micro-Electronics, Inc. Announces Resignation of Solomon M. Hermosura as Corporate Secretary, Effective February 29, 2024 Integrated Micro-Electronics, Inc. has received a letter from Mr. Solomon M. Hermosura tendering his resignation as its Corporate Secretary effective February 29, 2024. Mr. Hermosura will be transitioning to government service. His replacement will be appointed by the Board of Directors in due course. New Risk • Jan 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₱5.59b (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 68% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₱5.59b market cap, or US$99.0m). Annonce • Nov 29
Integrated Micro-Electronics, Inc. Resignation of Director and Appointment of New Chairman of the Board Integrated Micro-Electronics, Inc. informed that at its regular meeting held on November 24, 2023, its Board of Directors approved, as endorsed by company's Corporate Governance and Nomination Committee, the resignation of Mr. Delfin L. Lazaro as company's Director and Chairman of the Board due to personal circumstances. Company's Board likewise approved the appointment of Mr. Alberto M. de Larrazabal, one of company's incumbent directors, as company's Chairman of the Board vice Mr. Lazaro. The resulting vacancy in company's Board shall be filled-up in due course. Reported Earnings • Nov 08
Third quarter 2023 earnings released: US$0.001 loss per share (vs US$0 in 3Q 2022) Third quarter 2023 results: US$0.001 loss per share (further deteriorated from US$0 in 3Q 2022). Revenue: US$340.8m (down 3.0% from 3Q 2022). Net loss: US$1.60m (down 299% from profit in 3Q 2022). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 05
Second quarter 2023 earnings released: US$0.038 loss per share (vs US$0.002 loss in 2Q 2022) Second quarter 2023 results: US$0.038 loss per share (further deteriorated from US$0.002 loss in 2Q 2022). Revenue: US$345.1m (down 3.3% from 2Q 2022). Net loss: US$82.9m (loss widened US$79.4m from 2Q 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Asia. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 18
Full year 2022 earnings released: US$0.003 loss per share (vs US$0.005 loss in FY 2021) Full year 2022 results: US$0.003 loss per share (improved from US$0.005 loss in FY 2021). Revenue: US$1.41b (up 8.3% from FY 2021). Net loss: US$6.76m (loss narrowed 36% from FY 2021). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Annonce • Dec 19
Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 20, 2023 Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 20, 2023, at 09:00 Singapore Standard Time. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: US$0 (vs US$0.003 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0 (improved from US$0.003 loss in 3Q 2021). Revenue: US$351.2m (up 7.6% from 3Q 2021). Net income: US$806.0k (up US$7.04m from 3Q 2021). Profit margin: 0.2% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Asia. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Hiroshi Nishimura was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 08
Third quarter 2022 earnings released: EPS: US$0 (vs US$0.003 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0 (improved from US$0.003 loss in 3Q 2021). Revenue: US$351.2m (up 7.6% from 3Q 2021). Net income: US$806.0k (up US$7.04m from 3Q 2021). Profit margin: 0.2% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Annonce • Oct 21
Integrated Micro-Electronics Announces Management Changes Integrated Micro-Electronics, Inc.'s Board of Directors (Board) accepted the resignations of Mr. Jaime Augusto Zobel de Ayala and Mr. Fernando Zobel de Ayala. Upon the endorsement of Corporate Governance and Nomination Committee (CGN Committee), the remaining members of Board, still constituting a quorum, elected Mr. Jaime Z. Urquijo vice Mr. Fernando Zobel de Ayala, and Mr. Roland Joseph L. Duchâtelet vice Mr. Jaime Augusto Zobel de Ayala. Jaime Z. Urquijo, 34, Filipino, is currently a director of Bank of the Philippines Islands, AC Industrial Technology Holdings, Inc., Merlin Solar Technology, Inc., Merlin Solar Technology (Phils.), Inc., ACE Enexor, Inc. and ACE Endevor, Inc. He is the Assistant Vice President of Business Development of the International Business unit of ACEN. Prior to this, he was a Strategy and Development Manager at Ayala Corporation. From 2014 to 2016, he was seconded to AF Payments, Inc., where he served as head of Business Development overseeing the launch of the Beep Card payment system. Prior to joining the Ayala Group, he was an associate at JP Morgan in New York. He is a board member of the Philippine Rugby Football Union and is the current President of the Notre Dame Club of the Philippines. Mr. Urquijo received his Bachelor of Arts degree in Political Science from University of Notre Dame, Indiana, USA, and obtained his Masters in Business Administration in INSEAD, France. Roland Joseph L. Duchâtelet, 75, Belgian, worked for several enterprises in Belgium and Germany. He created several businesses throughout his career, meanwhile organizing approximately 50 acquisitions or sales of businesses. Also in the same meeting, Board considered and approved the appointment of Mr. Delfin L. Lazaro as the Chairman of the Board vice Mr. Jaime Augusto Zobel de Ayala as endorsed by CGN Committee. Mr. Jaime Augusto Zobel de Ayala will remain involved in overseeing IMI's strategy, vision and growth in his capacity as Chairman of AC Industrial Technology Holdings, IMI's parent company, and Ayala Corporation. Annonce • Sep 12
Integrated Micro-Electronics, Inc. Announces Resignation of Fernando Zobel de Ayala from its Board of Directors Integrated Micro-Electronics, Inc. announced that Mr. Fernando Zobel de Ayala tendered his resignation from its Board of Directors effective immediately due to health reasons. His replacement will be elected by its Board in due course. Effective date is September 12, 2022. Reported Earnings • Aug 04
Second quarter 2022 earnings released: US$0.002 loss per share (vs US$0.001 loss in 2Q 2021) Second quarter 2022 results: US$0.002 loss per share (down from US$0.001 loss in 2Q 2021). Revenue: US$356.9m (up 12% from 2Q 2021). Net loss: US$3.55m (loss widened 177% from 2Q 2021). Over the next year, revenue is forecast to grow 22%, compared to a 21% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Jun 16
Insider recently bought ₱101k worth of stock On the 14th of June, Rosalyn Tesoro bought around 15k shares on-market at roughly ₱6.70 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₱3.2m more in shares than they bought in the last 12 months. Buying Opportunity • May 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be ₱8.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • May 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be ₱8.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 05
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: US$0.001 loss per share (down from US$0.001 profit in 1Q 2021). Revenue: US$334.0m (up 2.0% from 1Q 2021). Net loss: US$1.97m (down 190% from profit in 1Q 2021). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 22%, compared to a 20% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Hiroshi Nishimura was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Apr 22
Integrated Micro-Electronics, Inc. Elections of Chairpersons and Members of the Board Committees Integrated Micro-Electronics, Inc. announced that in its AGM held on 15 April 2021, at its organizational meeting held immediately after the stockholders' meeting, the Board of Directors elected: the Chairpersons and Members of the Board Committees: Executive Committee includes Arthur R. Tan – Chairman, Rafael C. Romualdez Member, Alberto M. de Larrazabal Member. Corporate Governance and Nomination Committee: Sherisa P. Nuesa – Chairman, Hiroshi Nishimura – Member, Edgar O. Chua Member. Finance Committee: Delfin L. Lazaro Chairman, Alberto M. de Larrazabal Member, Rafael C. Romualdez Member. Related Party Transactions Committee: Hiroshi Nishimura Chairman, Rafael C. Romualdez Member, Edgar O. Chua Member, Alberto M. de Larrazabal Member. Personnel and Compensation Committee: Sherisa P. Nuesa – Chairman, Alberto M. de Larrazabal – Member, Jose Ignacio A. Carlos – Member. Audit and Risk Committee: Edgar O. Chua – Chairman, Rafael C. Romualdez – Member, Hiroshi Nishimura Member. Proxy Validation Committee: Solomon M. Hermosura Chairman, Laurice S. dela Cruz – Member, Neilson C. Esguerra Member. Recent Insider Transactions • Jan 18
Independent Director recently sold ₱3.3m worth of stock On the 14th of January, Sherisa Nuesa sold around 350k shares on-market at roughly ₱9.55 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱12m more than they bought in the last 12 months. Reported Earnings • Jul 31
Second quarter 2021 earnings released: US$0.001 loss per share (vs US$0.009 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$319.0m (up 45% from 2Q 2020). Net loss: US$1.28m (loss narrowed 94% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Executive Departure • Jul 06
Independent Director Diosdado Banatao has left the company On the 28th of June, Diosdado Banatao's tenure as Independent Director ended after 1.2 years in the role. As of March 2021, Diosdado still personally held only 115.00 shares (₱1.2k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Recent Insider Transactions • Jun 05
Insider recently sold ₱2.4m worth of stock On the 2nd of June, Solomon Hermosura sold around 263k shares on-market at roughly ₱9.07 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱7.6m more than they bought in the last 12 months. Recent Insider Transactions • May 12
Insider recently sold ₱2.2m worth of stock On the 10th of May, Solomon Hermosura sold around 228k shares on-market at roughly ₱9.69 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱4.1m more than they bought in the last 12 months. Reported Earnings • May 02
First quarter 2021 earnings released: EPS US$0.001 (vs US$0.002 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$327.5m (up 28% from 1Q 2020). Net income: US$2.19m (up US$6.81m from 1Q 2020). Profit margin: 0.7% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Apr 28
Insider recently sold ₱56k worth of stock On the 21st of April, Solomon Hermosura sold around 5k shares on-market at roughly ₱11.02 per share. In the last 3 months, there was an even bigger sale from another insider worth ₱1.9m. Insiders have been net sellers, collectively disposing of ₱1.9m more than they bought in the last 12 months. Executive Departure • Apr 17
Director has left the company On the 15th of April, Jose Teodoro Limcaoco's tenure as Director ended after 5.0 years in the role. As of December 2020, Jose Teodoro personally held only 100.00 shares (₱910 worth at the time). A total of 3 executives have left over the last 12 months. Executive Departure • Apr 17
Assistant Corporate Secretary has left the company On the 15th of April, Joanne Lim's tenure as Assistant Corporate Secretary ended after 4.8 years in the role. We don't have any record of a personal shareholding under Joanne's name. A total of 3 executives have left over the last 12 months. Reported Earnings • Mar 27
Full year 2020 earnings released: US$0.002 loss per share (vs US$0.004 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$1.14b (down 9.2% from FY 2019). Net loss: US$3.46m (loss narrowed 56% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.9%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Over the next year, revenue is forecast to grow 18%, compared to a 21% growth forecast for the Electronic industry in Philippines. Reported Earnings • Feb 25
Full year 2020 earnings released: US$0.002 loss per share (vs US$0.004 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$1.14b (down 9.1% from FY 2019). Net loss: US$3.46m (loss narrowed 56% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 94% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Annonce • Feb 16
Integrated Micro-Electronics, Inc. to Report Fiscal Year 2020 Results on Mar 02, 2021 Integrated Micro-Electronics, Inc. announced that they will report fiscal year 2020 results on Mar 02, 2021 Is New 90 Day High Low • Feb 12
New 90-day high: ₱13.40 The company is up 87% from its price of ₱7.15 on 13 November 2020. The Filipino market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱7.25 per share. Recent Insider Transactions • Feb 04
Independent Director recently sold ₱1.9m worth of stock On the 29th of January, Sherisa Nuesa sold around 150k shares on-market at roughly ₱12.80 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱543k more than they bought in the last 12 months. Is New 90 Day High Low • Jan 25
New 90-day high: ₱11.00 The company is up 72% from its price of ₱6.40 on 28 October 2020. The Filipino market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱6.96 per share. Is New 90 Day High Low • Dec 16
New 90-day high: ₱8.24 The company is up 36% from its price of ₱6.05 on 18 September 2020. The Filipino market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱6.44 per share. Annonce • Dec 11
Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 15, 2021 Integrated Micro-Electronics, Inc., Annual General Meeting, Apr 15, 2021, at 09:00 Singapore Standard Time. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS US$0.004 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$312.4m (up 2.8% from 3Q 2019). Net income: US$9.11m (up US$14.4m from 3Q 2019). Profit margin: 2.9% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 85% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 05
New 90-day high: ₱7.15 The company is up 50% from its price of ₱4.77 on 07 August 2020. The Filipino market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱4.93 per share. Annonce • Sep 21
Integrated Micro-Electronics, Inc.(PSE:IMI) dropped from S&P Global BMI Index Integrated Micro-Electronics, Inc.(PSE:IMI) dropped from S&P Global BMI Index