Business
Lantronix Reports Record Revenue for the Third Quarter of Fiscal 2020
Third Quarter Net Revenue was $16.5 Million, Up 34% from the Prior Year and Up 25% SequentiallyGAAP EPS, Inclusive of Acquisition and Severance Related Costs,
About this update from Lantronix, Inc.
[{"type":"text","content":"Third Quarter Net Revenue was $16.5 Million, Up 34% from the Prior Year and Up 25% SequentiallyGAAP EPS, Inclusive of Acquisition and Severance Related Costs, was ($0.19) per shareNon-GAAP EPS was $0.02 per share, Driven by Accelerated Integration and Expense ControlsIntrinsyc Acquisition Accretive to Non-GAAP EPSCompany Sees Increased Demand for Remote Connectivity IRVINE, Calif., May 14, 2020 (GLOBE NEWSWIRE) -- Lantronix, Inc. (NASDAQ: LTRX), a global provider of secure data access and management solutions for the industrial Internet of Things (IoT), today reported results for the third quarter of fiscal 2020 that ended March 31, 2020.\n Net revenue totaled $16.5 million, up 34% year over year and 25% sequentially. GAAP EPS was ($0.19), compared to $0.04 in the year-ago quarter and ($0.06) in the prior quarter and included acquisition and severance related costs. Non-GAAP EPS was $0.02, compared to $0.05 in the year-ago third quarter and $0.03 in the prior fiscal quarter. Business Outlook For the fourth quarter of fiscal 2020, Lantronix expects net revenue and non-GAAP EPS growth on a sequential basis. Due to the uncertainties caused by the COVID-19 pandemic that may impact our supply chain, Lantronix is suspending more specific guidance. “We are pleased with our execution in the extremely challenging COVID-19 environment. Despite significant supply chain and business disruption, we were able to achieve significant revenue growth, drive customer engagements and realize synergies,” said Paul Pickle, president and CEO of Lantronix. “Bolstered by quarter-to-date order strength and backlog in our IoT products and given that Covid-19 has focused the world including our customer base on the importance of connectivity, we expect to deliver sequential revenue and non-GAAP earnings growth in the fourth quarter of fiscal 2020.” 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 third quarter of fiscal 2020 that ended March 31, 2020. 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 Q3 FY 2020 call. The webcast will be available simultaneously via the investor relations section of the Compan...