Chicago, IL 4/9/12 (StreetBeat) -- Data I/O Corp. (Nasdaq: DAIO) said it expect a first-quarter loss of between $1.7 million and $2 million, and revenues of only $3.7 million.The company blamed "economic uncertainty related to the European sovereign debt and to a downturn in Asia-based electronics manufacturing" for the first-quarter decline in orders and revenue.
In early Tuesday trading, shares of the Redmond software programming company had fallen more than 20 percent, dropping 75 cents to $2.95.
Last month, Data I/O said CEO Frederick Hume will retire by the end of this year but he'll continue at the company until a successor is found. Also in March, Data I/O said it’s retained a financial adviser to evaluate the company’s “strategic alternatives.”
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