Business
Lantronix Reports Record Revenue for the Fourth Quarter of Fiscal 2020
Fourth Quarter Net Revenue was $17.4 Million, Up 71% from the Prior Year and 5% Sequentially GAAP EPS, Inclusive of Acquisition and Severance Related Costs,
About this update from Lantronix, Inc.
[{"type":"text","content":"Fourth Quarter Net Revenue was $17.4 Million, Up 71% from the Prior Year and 5% Sequentially GAAP EPS, Inclusive of Acquisition and Severance Related Costs, was ($0.06) per shareNon-GAAP EPS was $0.04 per share, Driven by Revenue Growth, Effective Integration, and Rigorous Expense ControlsCompany Guides Fiscal 2021 Revenue Growth of 20%-25% and Non-GAAP EPS Growth of 120%-160% IRVINE, Calif., Sept. 10, 2020 (GLOBE NEWSWIRE) -- Lantronix, Inc. (NASDAQ: LTRX), a global provider of software as a service (“SaaS”), engineering services, and intelligent hardware for the Internet of Things (IoT) and Remote Environment Management (REM), today reported results for the fourth quarter of fiscal 2020 that ended June 30, 2020.\n Net revenue totaled $17.4 million, up 71% year over year and 5% sequentially. GAAP EPS was ($0.06), compared to ($0.19) in the prior fiscal quarter. Non-GAAP EPS was $0.04, compared to $0.02 in the prior fiscal quarter. “We executed on our plan despite the ongoing challenges of the Covid-19 pandemic,” stated Paul Pickle, president and CEO of Lantronix. “Revenues for the fourth quarter grew 5% sequentially and 71% year over year, while year over year non-GAAP operating expenses fell from 50% to 32% of revenues. As we look to fiscal 2021, the team is laser-focused on continuing the transformation of Lantronix through increased scale, improved operating efficiencies, growth of our software platform, and the integration of additional value-added technologies and products through acquisition. Business Outlook Due to the ongoing uncertainties caused by the COVID-19 pandemic that continue to impact supply chains, Lantronix is transitioning from specific quarterly guidance in favor of annual growth targets. For the first quarter of fiscal 2021, Lantronix expects net revenue to be flat to up slightly and non-GAAP EPS growth on a sequential basis. For the full year fiscal 2021, the company currently expects revenue growth of 20%-25%, with year over year non-GAAP EPS growth on the order of 120%-160%. Conference Call and WebcastLantronix will host an investor conference call and audio webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its results for the fourth quarter of fiscal 2020 that ended June 30, 2020. To access the live conference call, investors should dial 1-844-802-2442 (US) or 1-412-317-5135 ...