Business
Lantronix Reports Record Results for Fourth Quarter and Fiscal 2021
Record Fourth Quarter Net Revenue of $20.6 Million, Up 19% Year Over YearRecord Fiscal Year 2021 Net Revenue of $71.5 Million, Up 19% Year Over Year GAAP
About this update from Lantronix, Inc.
[{"type":"text","content":"Record Fourth Quarter Net Revenue of $20.6 Million, Up 19% Year Over YearRecord Fiscal Year 2021 Net Revenue of $71.5 Million, Up 19% Year Over Year GAAP Gross Margins of 48.8% Improved 370 Basis Points Sequentially From 45.1% and Improved 1,110 Basis Points from 37.7% in the Year Ago Fourth Quarter, Reflecting Improved Product MixFourth Quarter GAAP EPS Improved to ($0.04) per Share vs. ($0.06) in the Prior YearFourth Quarter Non-GAAP EPS Increased to $0.06 per share vs. $0.04 in the Year Ago Quarter and $0.05 in the Prior QuarterDemand Strengthened, Driving Another Record Backlog Entering Q1 of Fiscal 2022Cash Balance Improved to $9.7 Million IRVINE, Calif., Aug. 26, 2021 (GLOBE NEWSWIRE) -- Lantronix, Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware, today reported results for the fourth quarter of fiscal 2021 and fiscal year ended June 30, 2021. Net revenue totaled $20.6 million, up 19 percent year-over-year and up 21 percent sequentially. GAAP EPS improved to ($0.04), compared to ($0.06) in the prior year, and ($0.04) in the prior quarter. Non-GAAP EPS improved to $0.06, compared to $0.04 in the prior year, and $0.05 in the prior quarter. “We are pleased to deliver these results and guidance to our shareholders,” stated Paul Pickle, president and CEO of Lantronix. We are growing organically at a double-digit rate. We are acquiring strategic assets, integrating them and realizing synergies so as to drive improving cash flows. Our team has executed well in a difficult environment, and we expect to do more of the same in Fiscal 2022.” Business Outlook For the full year fiscal 2022, the company expects year-over-year revenue growth of 45–75 percent, with non-GAAP EPS growth on the order of 85–135 percent. Conference Call and Webcast Lantronix will host an investor conference call and audio webcast on Thursday, Aug. 26, 2021, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its results for the fourth quarter of fiscal 2021 that ended June 30, 2021. To access the live conference call, investors should dial 1-844-802-2442 (US) or 1-412-317-5135 (international) and indicate that they are participating in the Lantronix Q4 F...