Business
Digi International Reports Fiscal Fourth Quarter and Full Fiscal Year 2019 Results
Fiscal fourth quarter revenue of $65.0 million Fiscal fourth quarter GAAP EPS of $0.08 The Company introduces its fiscal 2020 guidance MINNEAPOLIS--(BUSINESS
About this update from Digi International Inc.
[{"type":"text","content":"\n\nFiscal fourth quarter revenue of $65.0 million\n\n\n\n\nFiscal fourth quarter GAAP EPS of $0.08\n\n\n\n\nThe Company introduces its fiscal 2020 guidance\n\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nDigi International® Inc. (NASDAQ: DGII), a leading global provider of business and mission critical Internet of Things (\"IOT\") products, services and solutions, today announced its financial results for the fiscal fourth quarter and full fiscal year ended September 30, 2019.\n\n\n\"Both business segments contributed to a record fiscal 2019,\" said Ron Konezny, President and Chief Executive Officer. \"Digi is well-positioned to build on that momentum in fiscal 2020, and we are excited to announce our agreement to add Opengear, Inc. to the Digi family.\"\n\n\nFiscal Fourth Quarter 2019 Results\n\n\n\nRevenue decreased 0.2% to $65.0 million compared to the same period in the prior fiscal year. Net income decreased to $2.3 million, compared to net income of $3.3 million in the fiscal fourth quarter of 2018. Diluted earnings per share (EPS) decreased to $0.08, compared to $0.12 for the fiscal fourth quarter of 2018. Adjusted EPS decreased to $0.18, compared to $0.22 for the fiscal fourth quarter of 2018. Adjusted EBITDA increased 3.3% to $7.6 million as compared to the same period in the prior fiscal year.\n\n\n\nFull Fiscal Year 2019 Results\n\n\n\nRevenues increased 12.0% to $254.2 million from the same period in the prior fiscal year. Net income increased to $10.0 million, compared to net income of $1.6 million for fiscal 2018. Diluted EPS increased to $0.35 compared to $0.06 for fiscal 2018. Adjusted EPS increased to $0.65, compared to $0.61 in fiscal 2018. Adjusted EBITDA increased 12.9% to $26.5 million as compared to the same period in the prior fiscal year.\n\n\n\nReconciliations of GAAP and non-GAAP financial measures appear at the end of this release. In the fiscal fourth quarter of 2019, we expanded our definition of adjusted EPS to further exclude the effects of amortization of intangible assets, stock-based compensation expense, adjustments to estimates of contingent consideration liabilities, acquisition-related expenditures, and other non-operating income/expense. We believe the expansion of adjusted EPS to exclude the effects of these items provides investors with a better understanding of the financial performance of the Co...