Integrated Micro-Electronics, Inc. (IMI) reported higher first-quarter earnings as tighter cost controls, improved factory utilization, and lower financing costs offset continued softness in demand across parts of the electronics manufacturing sector.

In a disclosure on Wednesday, the Ayala-led electronics manufacturing services provider said net income rose 22 percent to $4.5 million in the January-to-March period from $3.7 million a year earlier.

Revenue stood at $220 million, unchanged from the same period last year, as weakness in some mobility-related segments tempered overall sales growth.

Despite flat revenues, IMI said it improved profitability through operational efficiencies and cost discipline measures implemented under its ongoing transformation program.

Gross profit margin expanded to 9.7 percent from 8.7 percent a year earlier, driven by higher factory utilization, pricing discipline, and continued optimization of the company’s manufacturing footprint.

EBITDA increased to $15.5 million from $14.6 million, supported by stronger operating leverage, reduced overhead costs, and improved program execution.

“We are pleased with the steady increase in profitability that we have achieved over the last two years,” IMI Chief Executive Officer Louie Hughes said. “Our focus now shifts to growing revenue in the correct high-value markets and building on the robust corporate and operational foundation we have shaped.”

IMI said geopolitical tensions in the Middle East have not materially affected operations, although it continues to monitor global supply chain conditions and coordinate closely with customers and suppliers to minimize potential disruptions involving logistics and component availability.

IMI provides electronics manufacturing solutions to the automotive, industrial, power electronics, communications, and medical sectors, with 11 manufacturing plants across five countries.