The company has secured new contracts for power semiconductor modules used in data centers, opening another growth market as demand for computing infrastructure expands.
"The progress we are delivering is the result of two years of decisive action to make IMI a stronger, more focused and more competitive company," IMI president and CEO Louie Hughes said in a statement on Wednesday.
“New wins in data center power modules and our expanding automotive camera business show how IMI’s engineering depth and specialized manufacturing technologies create opportunities in attractive, high-reliability markets. We have strengthened the business, and we are turning that foundation into profitable growth,” he added.
New growth engines
IMI is also expanding its automotive camera business, supplying specialized components for driver-monitoring and other vehicle safety systems as automakers adopt more sophisticated technology.
The new contracts could help IMI shift toward higher-value manufacturing, building on operational improvements that have allowed earnings to grow faster than revenue.
Profits outpace sales
Core earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12 percent to $56.5 million in the first nine months of 2026, even as revenue increased just 3.6 percent to $703.2 million.
Gross margins widened to 10.4 percent from 9 percent, reflecting improved factory utilization, tighter sourcing controls and a more profitable product mix.
Building for expansion
Third-quarter core EBITDA climbed 9.8 percent to $19.5 million, while total debt declined to $188.3 million at the end of September from $196 million in December 2025.
With industrial demand remaining uneven, IMI's next test will be how quickly it can scale its new data center and automotive programs into meaningful revenue and sustained profit growth.
—Edited by Miguel R. Camus
