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Automotive Electronics Sector Recovery Accelerating
REDMOND, Wash.–(BUSINESS WIRE)–Data I/O Corporation (NASDAQ: DAIO), the leading global provider of advanced security and data deployment solutions for microcontrollers, security ICs and memory devices, today announced financial results for the first quarter ended March 31, 2021.
First Quarter 2021 Highlights
Gross margin as a percentage of sales of 55.5%
Net loss of ($333,000) or ($0.04) earnings per share
Adjusted EBITDA of $173,000
Cash & Equivalents of $13.6 million; no debt
Automotive Electronics represented 56% of first quarter 2021 bookings
Six new customer wins in the quarter in Asia
Growth in SentriX® Security Deployment Platform supports and design wins
First field upgrade of PSV7000 to SentriX, for a customer in Asia
Gross margin as a percentage of sales of 53.2%; Adjusted gross margin of 54.7%
Net loss of ($4.0) million or ($0.48) earnings per share
Adjusted EBITDA of ($366,000)
Automotive Electronics represented 53% of bookings for 2020
Deployment of over 330 PSV systems worldwide
Ended year with 15 partners and 14 supported devices for SentriX Security Deployment Platform EBITDA, Adjusted EBITDA and Adjusted gross margin are non-GAAP financial measures. A reconciliation is provided in the tables of this press release.
Management Comments
Commenting on the fiscal year ended December 31, 2020, Anthony Ambrose, President and CEO of Data I/O Corporation, said, “In the most challenging business climate in recent memory, we are pleased to have exited 2020 better positioned than how we entered the year. Data I/O’s people are healthy, our cash balance increased, our operational processes and supply chain resiliency have been optimized, our automotive electronics and security platforms hav