REDMOND, WA – Data I/O Corp. reported second quarter net sales of $6.7 million, up 45% year-over-year.

The increase primarily reflects higher overall demand for equipment and higher adapter sales associated with the increased usage and growing installed base of machines globally. Recurring and consumable revenues include adapter sales of $2.6 million, or 39% of total revenues, compared with $2.2 million, or 47% of the second quarter 2020 total.

Net loss was $29,000, compared with a net loss of $1.06 million in the second quarter last year. Adjusted EBITDA was $597,000, compared to Adjusted EBITDA of ($231,000) in the same period of 2020.

Orders were $8.9 million, up 79% year-over-year. Automotive electronics represented 56% of second quarter orders.

Backlog as of June 30 was approximately $5 million, up from $3 million as of Mar. 31 and $2.8 million as of June 30, 2020. Cash and equivalents were $13 million.

“The second quarter was very strong across the board, with sizeable growth in revenues and bookings across all geographic regions,” said Anthony Ambrose, president and CEO, Data I/O. “Tailwinds have continued in both the automotive and industrial electronics sectors. We added six new customers in each of the first and second quarters of the year, including a marquee SentriX system win. Bookings of $8.9 million were the highest for any quarter in four years as order flow gained momentum and left us with a quarter-end backlog of $5 million.

“Recurring and consumable revenues that include adapter sales, software, maintenance and SentriX fees were $2.6 million in the second quarter of 2021. These revenue streams collectively increased approximately 19% from last year’s second quarter, while adapter bookings in the second quarter of 2021 reached the highest level in the PSV era. The strong level of adapter sales reflects the increasing number of PSV units deployed globally and increasing utilization of our equipment by customers.

“In another milestone for the company, we booked our first SentriX system for an artificial intelligence application. During the second quarter, we also qualified our PSV5000 machines for field upgrades to SentriX security provisioning capabilities, which follows our first PSV7000 field conversion to SentriX in the first quarter.

“While our operating performance has been excellent, it is not without challenges. The pandemic and supply chain bottlenecks within the automotive electronics and semiconductor sectors persist. We are fighting shortages globally, but our operations staff in the USA and China has been highly effective in planning, advance ordering and logistical management.

“We believe Data I/O has established itself as the most resilient market leader with industry-leading secure programming technologies and the strongest balance sheet. Furthermore, our efforts to attract and retain highly qualified professionals are paying off in how we positioned the company during the pandemic and cyclical downturn to enhance our business processes, reshape our revenue models, and improve the value proposition for our customers.”

Total operating expenses in the second quarter were $3.7 million, compared to operating expenses of $3.3 million in same period last year. R&D expenses were approximately $1.7 million.

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