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Earnings Call Summary | Data I/O(DAIO.US) Q1 2024 Earnings Conference

Futu News ·  Apr 27 00:10  · Conference Call

The following is a summary of the Data I/O Corporation (DAIO) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Data I/O Corporation had Q1 bookings worth $8.1 million, marking an eleven-quarter high.

  • They reported Q1 revenues of $6.1 million.

  • Ended the quarter with a robust backlog of $4.5 million expected to be recognized as revenue in H2 2024.

  • The company boasts $12 million in cash and zero debt.

  • Q1 gross margins were at 53%, down from the previous year due to lower sales volume and a shift in product mix.

Business Progress:

  • There has been a geographical shift in business, with increased strength in the EMEA region and Asia.

  • North America may be experiencing reduced demand.

  • Key sectors like edge AI, IoT, healthcare monitoring and smart factory automation have seen significant adoption of their tools.

  • Wins in the ADAS and steady automotive sales were seen in Q1.

  • Anticipate more demand for data programming driven by Edge AI.

  • Expect to return to mid to high 80% range in gross margins and double-digit growth in bookings in 2024, with most system deployments occurring in H2.

More details: Data I/O IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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