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Data I/O swings to loss in Q1

Data I/O Corp. said its first-quarter normalized net income came to a loss of $104,380, compared with income of $36,250 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 2.3% from 0.6% in the year-earlier period.

Total revenue declined 21.8% year over year to $4.6 million from $5.9 million, and total operating expenses fell 15.7% from the prior-year period to $4.8 million from $5.7 million.

Reported net income came to a loss of $158,900, or a loss of 2 cents per share, compared to income of $80,450, or 1 cents per share, in the year-earlier period.