REDMOND, WA -- Data I/O saw second quarter revenues jump 17% over the year earlier to $5.8 million.
Net income more than quadrupled to $444,000 for the period ended June 30.
Total bookings rose 13% to $5.7 million, with automotive electronics orders making up over half of the quarter's bookings. Backlogs reached $2 million at end of quarter.
"The momentum we experienced in the first quarter of the year continued in the second quarter of 2016," said Anthony Ambrose, president and CEO. "We are pleased that the significant leverage in our model is clearly evident, with net income increasing substantially from last year. This performance is driven in large part by continued strength in our automotive electronics business, across both OEM and programming center customers."
Following the quarter's close, Data I/O signed a five-year supply agreement with Bosch Car Multimedia.
"Automotive electronics is a key component of our long-term growth outlook," Ambrose said. "Bosch Car Multimedia, one of the world's largest automotive electronics OEMs, selected Data I/O in a multivendor competitive bidding process for a five-year supply agreement. This victory demonstrates our technical superiority, the ability to satisfy the extensive global requirements inherent in long-term global supply agreements, and our industry leading managed and secure pre-programming capabilities rooted in our LumenX platform.
"The Bosch agreement is validation of the successful execution of our growth strategy, yet it was not a factor in our second quarter operating results," he added.
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