PHOENIX -- Revenues and backlog set all-time highs in the fiscal second quarter at White Electronic Designs Corp., the company announced here Tuesday.
Revenues for the quarter, ended April 1, were $21.3 million, up 64% from a year ago, and up 17% sequentially. New orders booked in the quarter were a strong $25.3 million, and the company's backlog has reached an all time high of $36.5 million, "setting the stage for solid growth in the third quarter and beyond for fiscal year 2000," said president and CEO Hamid Shokrgozar.
White Electronic Designs was formed in 1998 through the merger of Bowmar Instrument Corp. and Electronic Designs Inc. It serves both military and commercial markets with high-density memory products and multi-chip modules, ruggedized flat panel displays, and electromechanical assemblies.
Net income for the second quarter totaled $1.5 million, or 8 cents per share. That topped the previous quarter's net income of $1.0 million, or 6 cents per share. A year ago, the company reported a net loss of $675,000, or 5 cents per share.
"This quarter caps a great first half of fiscal year 2000 for us," said Shokrgozar. "Revenues for the quarter and for the first six months of 2000 were White's highest ever, and we are extremely pleased with our growth and profit performance. White's revenue growth is being driven by the demands of even more complex hardware systems to support the telecommunications, data communications and networking systems."