REDMOND, WA -- 03/25/08 --
Data I/O Corporation (NASDAQ: DAIO), the
leading provider of manual and automated device programming systems,
announced today that it has completed on March 18, 2008 the sale of
selected patents and patent applications to Leannoux Properties AG L.L.C.
for net proceeds of approximately $3.3M and expects to report a net gain of
approximately $2.1M. The patents and patent applications sold related
primarily to technology used in Data I/O Corporation's ProLINE-RoadRunner
product line. Data I/O retains a non-exclusive, royalty-free license to
use the technology covered by these patents and applications. Additional
payments are due to Data I/O Corporation upon license or transfer of the
proposed patents and patent applications to certain third parties.
However, Data I/O Corporation does not currently anticipate receiving any
such payments.
Most of the patents sold relate to technology that the company has been
practicing for a number of years. The sale does not include technology
related to the firm's most recent development programs.
Regarding the transaction, Fred Hume, President and CEO of Data I/O
Corporation, said, "This transaction delivers a substantial financial
benefit to our shareholders. It monetizes the value of these patents,
avoids future annual maintenance and patent defense expenses, and allows
Data I/O royalty-free use of these patents."
About Data I/O Corporation
With over 35 years of expertise in delivering intellectual property to
programmable devices, Data I/O offers complete, integrated manufacturing
solutions in wireless, automotive, programming center, semiconductor, and
industrial control market segments for OEM, ODM, EMS and semiconductor
companies. Data I/O provides hardware and software solutions for turn-key
programming and device testing services, as well as in-system (on-board),
in-line (right before use at the SMT line), or in-socket (off-line)
programming with special manufacturing options such as serialization,
traceability, version control, statistical data logging, co-planarity test,
and bad block management. These solutions are scalable for small, medium
and large volume applications with different device mixes. For further
information on Data I/O, please visit www.dataio.com or call (425)
881-6444.
Forward-Looking Statement
Statements in this report concerning estimated gains and expectations of
future payments and any other statement that may be construed as a
prediction of future performance or events are forward-looking statements
which involve known and unknown risks, uncertainties and other factors
which may cause actual results to differ materially from those expressed or
implied by such statements. These factors include uncertainties as to
estimated costs and future licensing expectations and other risks including
those described from time to time in the Company's filings on Forms 10K and
10Q with the Securities and Exchange Commission (SEC), press releases and
other communications.
Contact:
Joel Hatlen
Vice President and Chief Financial Officer
(425) 881-6444
Data I/O Corporation
6464 185th Ave. NE, Suite 101
Redmond, WA 98052
