Business
Lantronix Reports Record Results for First Quarter of Fiscal 2022
Record First Quarter Net Revenue of $27.7 Million, up 62% Year Over Year, 34% SequentiallyFirst Quarter GAAP EPS totaled ($0.08) per Share vs. ($0.01) in the
About this update from Lantronix, Inc.
[{"type":"text","content":"Record First Quarter Net Revenue of $27.7 Million, up 62% Year Over Year, 34% SequentiallyFirst Quarter GAAP EPS totaled ($0.08) per Share vs. ($0.01) in the Prior YearFirst Quarter Non-GAAP EPS totaled $0.08 per Share vs. $0.05 in Prior YearDemand Strengthened, Driving Another Record Backlog Entering Q2 Fiscal 2022Cash Balance Improved to $10.3 Million IRVINE, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Lantronix, Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for Intelligent IT and Internet of Things (IoT), today reported results for the first quarter of fiscal 2022. Net revenue totaled $27.7 million, up 62 percent year-over-year and up 34 percent sequentially. GAAP EPS totaled ($0.08), compared to ($0.01) in the prior year and ($0.04) in the prior quarter. Non-GAAP EPS totaled $0.08, compared to $0.05 in the prior year and $0.06 in the prior quarter. “Demand for Lantronix solutions strengthened again in our first quarter, and we entered the second quarter with record backlog in place,” stated Paul Pickle, president and CEO of Lantronix. “The integration of our most recent acquisition is well underway, and we are growing organically at a double-digit rate. As we focus on execution in a difficult supply chain environment, we expect to deliver strong year-over-year results for our shareholders.” Business Outlook Demand strengthened during the company’s fiscal first quarter, and the company currently believes that without supply chain constrains, it could post full-year revenue and non-GAAP EPS results above the high-end of the guidance range. However, taking the current supply chain dynamics into account, the company’s more conservative expectations for the full year fiscal 2022 has improved to revenue growth of 54–75 percent with non-GAAP EPS growth of 95–135 percent. Conference Call and Webcast To account for the Securities and Exchange Commission holiday on Nov. 11, Lantronix is releasing its first quarter of fiscal 2022 results today, Nov. 10, 2021. Lantronix will host an investor conference call and audio webcast, as previously planned, on Thursday, Nov. 11, 2021, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its results for the first quarter of fiscal 2022 that ended Sept. 30, 2021. To access the live conference call, investors should dial 1-844-802-2442 (US) or 1-412-317-5135 (internation...