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October 10, 2012
05:30 EDTDAIOData I/O sees Q3 net loss of approximately $1.3M
Sees Q3 revenue $4.3M. No consensus estimates for comparison. The net loss includes restructure charges of approximately $214,000 and an excess and obsolete inventory charge of $164,000. The company believes the decline in orders and revenue compared to the prior year is primarily due to the continued trend of reduced capital spending resulting from the downturn and economic uncertainty related to the European sovereign debt and to a downturn in Asia-based electronics manufacturing. Orders were down 42% compared to Q3 of 2011. Data I/O expects to announce final results for Q3 on Oct. 29.
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