REDMOND, WA -- Data I/O reported a smaller fourth-quarter net loss despite lower sales. Net sales for the period ended Dec. 31 were 3.3 million, down 10.8% from 2012, while the net loss shrank 53% to $1.6 million.

For the year, the company reported net sales of $18.7 million, up 9.6% from 2012. The net loss dropped to $2.6 million, from $6.4 million in fiscal 2012. Bookings for the quarter were up $200,000 to $3.7 million, and backlogs were up $1 million to $1.9 million as of at Dec. 31.

The fourth quarter was a "weak close to an otherwise improved year,” said president and CEO Anthony Ambrose. "As we commented last quarter, bookings decelerated during the third quarter and continued to be weak until December. We are seeing a stronger start in the first two months of 2014, compared to the same period in the fourth quarter of 2013, with orders for automated handlers leading the increase”.

"We are on track with our multi-year plan announced last year” said Ambrose. “Our strategy is to deliver new and exciting products and control our costs as the means to recapture market share and grow a profitable company. Operating expenses (excluding restructuring and impairment) were down about $2 million from 2012. The actions we took in 2013 will continue to pay off in 2014."

Data I/O has lowered its breakeven in 2014 to approximately $4.7 million per quarter quarter of revenue, with a normal product mix, down from $5.25 million in the second half of 2013, he added.

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