REDMOND, WA – Data I/O reported fourth quarter net sales of $8.1 million, an 11-year high for the quarter, up 26% year-over-year.
Net income was $1.5 million, up 98.7% compared to the same period in 2016.
Total orders for the quarter were $7.6 million.
Net sales for 2017 were $34.1 million, an increase of 45.7% year-over-year. Automotive orders grew 46% for the year.
"2017 was the best year in a generation for Data I/O, and I congratulate our global team for their hard work and operational excellence," said Anthony Ambrose, president and CEO of Data I/O. "Our solid execution in the fourth quarter and full year in engineering, customer support, and operations extends our worldwide leadership position in device programming and security provisioning technology.
"The company's results reflect the share we have gained in the automotive electronics market and traction with major programming center customers around the world. 54% of our orders for the year came from OEMs in the automotive sector, and 24% came from programming center customers.
"Leveraging the success we have had within the automotive electronics sector, we have been developing high-volume programming technology that enables the transition to universal flash storage (UFS) from eMMC flash memory. The movement to UFS is being influenced by major automotive and semiconductor manufacturers, as programmable content per vehicle sharply increases to support infotainment systems, navigation, and other features in connected and autonomous cars. We demonstrated our UFS programming capability in the fourth quarter and earned our first customer orders.”