Data I/O posted Q2 net sales of USD 5.2 million, up 59% sequentially from Q1; bookings were USD 4.9 million.
GAAP net loss widened to USD 1.63 million, or USD 0.17 per share, on USD 873,000 of interest expense tied to June convertible debt.
GAAP operating loss narrowed to USD 724,000; gross margin rose to 57.0% from 49.5% in Q1, on mix and pricing.
Cash position and acquisition updates
Cash climbed to USD 10.8 million at June 30 from USD 5.7 million at March 31, following USD 8.3 million in private placement proceeds.
Exclusivity for a transformational acquisition was extended to end-August; Data I/O also disclosed intent to buy IAR embedded software security IP assets.
DAIO•
