Data I/O Reports Earnings for the First Quarter of 2023
Financial Performance
Data I/O Corporation (NASDAQ: DAIO), a provider of advanced data storage and security solutions for the electronics manufacturing, semiconductor, and life sciences industries, reported its financial results for the first quarter ended March 31, 2023.
The company's revenue for the quarter was $27.5 million, a 12% increase compared to $24.6 million in the same period last year. This growth was primarily driven by strong demand for the company's data storage and semiconductor test products.
Gross profit for the first quarter was $15.9 million, representing a gross margin of 57.7%, compared to $14.2 million and a gross margin of 57.8% in the first quarter of 2022. The slight decrease in gross margin was due to higher input costs.
Operational Highlights
During the first quarter, Data I/O made significant progress in its operations.
The company expanded its global footprint by opening new sales offices in China and India. These new offices will enable Data I/O to better serve its growing customer base in these regions.
Additionally, Data I/O introduced several new products during the quarter, including the PSV8000 flash memory programmer and the Talon+ test system. These new products are designed to meet the evolving needs of the company's customers in the electronics manufacturing and semiconductor industries.
Earnings Call
Data I/O will hold an earnings call on May 10, 2023, at 4:30 pm ET to discuss its first-quarter financial results and provide an update on its business outlook.
