Data I/O expects lower second-quarter revenues.REDMOND, Wash.--(BUSINESS WIRE)--June 24, 1996--Data I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DAIO DAIO Direkt-Anlage in Österreich (Austrian Discount Broker) DAIO Defense Agencies-Indianapolis Operations ) today announced that it expects second-quarter revenues and earnings will be lower than the first quarter of 1996. The company reported $15.7 million in revenues and earnings of $0.01 per share in the first quarter of 1996. Revenues for the Programming Systems division in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe will fall below expectations for the second quarter of 1996. The continued weakness in capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. by electronics manufacturers and the recession in Germany have impacted sales of programming systems. The decline in sales in the Programming Systems Division is expected to be partially offset by improved sales in the company's Synario Design Automation Division. Sales by the company's Reel Tech subsidiary are expected to be approximately equal to the level recorded in the first quarter of 1996. Based on normal seasonality, current order rates and current plans for introduction of enhanced or new products, the company expects third-quarter sales to be lower than the second-quarter and fourth-quarter sales to somewhat higher than the third quarter. "The company is investing heavily in research and development expenditures to support new product introductions planned for the fourth quarter of 1996 and in 1997," stated Bill Erxleben, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We are developing additions to our fine pitch automated programming product line as well as a new core programming technology, which will be the basis for a completely new line of stand-alone programmers. These product introductions should provide a much stronger product portfolio for our customers to choose from as well as enhance the company's competitive position." Statements in this news release concerning expectations of future operating results and product introductions are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include, among others, economic conditions, changes in market demand, timely development and market acceptance of new products and upgrades to existing products, competitive products and pricing and other risks including those described from time to time in the company's filings with the Securities and Exchange Commission, news releases and other communications. Data I/O is the world's leading provider of programming and handling equipment for design through manufacturing of programmable integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. (ICs). Data I/O's ProMaster products are fully integrated, automated systems for programming, testing, handling and marking programmable ICs in mid- to high volumes. In 1995, Data I/O established its Indianapolis Semiconductor Division after acquiring Reel-Tech Inc., a technology leader in the semiconductor component transportation arena. Data I/O, founded in 1972 and with headquarters in Redmond, Washington Redmond is a city in King County, Washington, USA. It is situated on the eastern edge of the Seattle urban area, in what is known as the Eastside. In 2003 the Census Bureau estimated the city population was 46,391. , has sales and service offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe, and Asia and is publicly traded. CONTACT: Data I/O, Redmond, Wash. Steven M. Gordon, 206/881-6444, ext. 2224 |
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