Business
Lantronix Reports Results for First Quarter of Fiscal 2024
First Quarter Net Revenue of $33 Million, Down 5 Percent Sequentially and up 4 Percent Year-Over-YearFirst Quarter GAAP EPS of ($0.05) vs. ($0.05) in the
About this update from Lantronix, Inc.
[{"type":"text","content":"First Quarter Net Revenue of $33 Million, Down 5 Percent Sequentially and up 4 Percent Year-Over-YearFirst Quarter GAAP EPS of ($0.05) vs. ($0.05) in the Prior Year First Quarter Non-GAAP EPS of $0.07 vs. $0.07 in the Prior Year IRVINE, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today reported results for its first quarter of fiscal 2024. Net revenue totaled $33.0 million, down 5 percent sequentially and up 4 percent year-over-year. GAAP EPS of ($0.05), compared to ($0.05) in the prior year and ($0.05) in the prior quarter. Non-GAAP EPS of $0.07, compared to $0.07 in the prior year and $0.06 in the prior quarter. Business Outlook For fiscal year 2024, the company continues to expect revenue in a range of $175 million to $185 million and non-GAAP EPS in a range of $0.50 to $0.60 per share. Conference Call and Webcast Management will host an investor conference call and audio webcast on Wednesday, Nov. 8, 2023, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its results for the first quarter of fiscal 2024 that ended Sept. 30, 2023. 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 Q1 FY 2024 call. The webcast will be available simultaneously via the investor relations section of the company’s website. Investors can access a replay of the conference call starting at approximately 7:00 p.m. Pacific Time on Nov. 8, 2023, at the Lantronix website. A telephonic replay will also be available through Nov. 15, 2023, by dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) and entering passcode 3340021. About Lantronix Lantronix Inc. is a global Industrial and Enterprise Internet of Things (IoT) provider of solutions that target high-growth applications in specific vertical markets, including Smart Grid, Intelligent Transportation, Smart Cities and AI Data Centers. Lantronix’s history in networking and video processing as well as its leading-edge applications include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with comprehensive Out of Band Management (OOB) solutions for Cloud and Edge Computing. L...