Data I/o Corp (NASDAQ: DAIO) reported Q1 EPS of $0.02, $0.01 better than the analyst estimate of $0.01. Revenue for the quarter came in at $6.9 million versus the consensus estimate of $6.86 million.

Financial Outlook for 2024

Based on continued strength amid a stable global operating environment, the Company is providing its financial outlook for 2024. Data I/O expects double-digit bookings growth in 2024, consistent with the long-term double-digit semiconductor growth rate in the automotive electronics industry and reflecting the benefits from an increasing installed base of systems. Gross margins are expected to be in the mid-to-high 50% range for the year. Operating expenses for 2024 are expected to be consistent with to moderately lower than 2023, except for variability in incentive compensation, sales commissions, and currency. As a result of the Company’s disciplined growth strategies, gross and operating margins may be further improved.

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