Circuits Assembly Online Magazine - Data I/Oâ€™s Revenues Up, Profits Down in Q3

REDMOND, WA – Data I/O announced third-quarter revenues rose 7% to $7.8 million over a year ago, but slipped 3% sequentially.

Net income was $1.2 million, down 25% from last year. Gross margin as a percentage of sales was 60%. Operating expenses were $3.3 million, up $300,000.

For the quarter, orders fell 16% to $6.9 million. “We were disappointed to see some orders slide out, primarily in Europe and the US, but Asia remained very strong with orders up nearly 50% compared with the same quarter of 2007," said Fred Hume, president and CEO, in a statement.