Data I/O Set to Join Russell Microcap Index

Data I/O Corporation (NASDAQ: DAIO), the leading global provider of advanced security and data deployment solutions for microcontrollers, security ICs and memory devices, today announced it is set to join the Russell Microcap Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the US market closes on June 23^rd, according to a preliminary list of additions posted May 19.

Membership in the Russell Microcap Index, which remains in place for one year, results in automatic inclusion in any growth and value style funds or other portfolios modeled after the index. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

Anthony Ambrose, President and CEO of Data I/O Corporation, said, “According to FTSE Russell, the rebalancing process is designed to capture market shifts from the previous year to ensure the Russell US Indexes continue to accurately reflect the US equity market. During the past 12 months, Data I/O’s share price appreciated approximately 48%, far outpacing the popular technology-laden NASDAQ Composite which was up by 12%. In terms of financial performance, our first quarter 2023 was highlighted by 46% top line growth and a nearly $2 million swing in net income as compared to the same period of the prior year. Revenues reached the highest first quarter level since 2018. We are gratified that our financial results progress and efforts to deliver shareholder returns has culminated in the expected inclusion of DAIO shares in the Russell Microcap Index, which should create even more exposure for our stock.”

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