REDMOND, WA – Data I/O reported sales of $6.9 million in fourth quarter, a decrease of 5% compared to 2022's fourth quarter.

For 2023 as a whole, the company's sales of $28 million were a 15.9% increase from 2022's total of $22.2 million.

"As expected, Q4 bounced back from a slower Q3 in bookings and revenue," said president and CEO Anthony Ambrose. "We delivered strong financial performance in 2023 and experienced encouraging business momentum which has carried over into 2024. Top line growth of 16% in 2023 exceeded our annual outlook for double digit industry expansion pegged to our largest market of automotive electronics. This market represented over 63% of our bookings in 2023 and shows continued long term potential with analysts estimating automotive silicon content to be growing 10-15% per year throughout the remainder of this decade.

"Automotive and industrial automation continue to represent the largest, fastest growing and most attractive market segments for our programming technologies. Demonstrating our leadership position in the markets we serve, we had over 23 new customer wins during 2023 worldwide and across all segments. Our sales funnel has significantly expanded with customers interested in our advanced programming technologies. We had strong growth in Systems as well as Adapters and Software/Services. We had excellent growth in the Americas region as well as Asia outside of China in 2023. This reflects the rebalancing of supply chains and our global strength. We also saw a more than doubling of our SentriX pay-per-use ("PPU") revenues in 2023, as several customers went into volume production."