REDMOND, WA – Data I/O reported net sales of $7.4 million in the second quarter, up 55% compared with the $4.8 million in sales in the second quarter of 2022.

The company said the increase from the prior year period primarily reflects a more normalized operating environment and increased activity within the automotive electronics industry. Second quarter bookings were $7.6 million, up 32% from $5.7 million in the first quarter and 19% from $6.4 million in the second quarter of 2022.

There was an increase in orders from customers in the Americas and Europe, and Asia showed moderately improved order flow but overall demand continues to be impacted by the slower than expected economic recovery in China, Data I/O said. Automotive electronics represented 63% of year to date bookings compared to 61% for all of 2022.

"We delivered a strong quarter with revenue and bookings at multiyear highs," said CEO Anthony Ambrose. "Business momentum accelerated through the second quarter 2023 primarily due to strength in automotive and industrial electronics demand in the Americas and Europe. Relative weakness in China has been more than offset by strength elsewhere. Through the first half of 2023, revenues increased by 50% from the prior year, and bookings in the second quarter of $7.6 million achieved the highest quarterly level in two years. We secured five new customer wins in the second quarter, including a marquee win at a global EV OEM. Data I/O continues to be the clear leader in EV vehicle programming worldwide. SentriX, our patented security provisioning platform, delivered increasing pay-per-use revenues as customers ramp their production volumes of secure IoT devices.

"Our continued momentum and the successful implementation of our growth initiatives are fueling our positive outlook. We expect to benefit from long term secular and regulatory growth catalysts, including EV demand, growth in IoT and mandated security requirements. Semiconductor growth in automotive electronics is forecasted to grow 10-15% per year for several years, driving demand for programming worldwide."

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