Data I/O sees double-digit revenue growth in FY23

The company provided a financial outlook for 2023 upon reporting year end 2022 results. The second quarter 2023 financial results affirm the improved visibility and ongoing strength in the Company’s primary end markets. For 2023, the Company now expects: Double-digit revenue growth for the year, consistent with the long-term double-digit semiconductor growth rate in the automotive electronics industry; Gross margins to be in the mid-to-high 50% range for the year; and Operating expenses for the year to be higher than 2022 primarily due to increased R&D spending, sales commissions, variable compensation and currency effects.