Market forces rained on the parade of Data I/O Corporation (NASDAQ:DAIO) shareholders today, when the covering analyst downgraded their forecasts for this year. Both revenue and earnings per share (EPS) estimates were cut sharply as the analyst factored in the latest outlook for the business, concluding that they were too optimistic previously.
Following the latest downgrade, the current consensus, from the solo analyst covering Data I/O, is for revenues of US$24m in 2024, which would reflect a perceptible 2.1% reduction in Data I/O’s sales over the past 12 months. The loss per share is anticipated to greatly reduce in the near future, narrowing 45% to US$0.09. Before this latest update, the analyst had been forecasting revenues of US$29m and earnings per share (EPS) of US$0.10 in 2024. So we can see that the consensus has become notably more bearish on Data I/O’s outlook with these numbers, making a measurable cut to this year’s…
