Business
Lantronix Reports Results for Second Quarter of Fiscal 2023
Second Quarter Net Revenue of $31.5 Million, Down 6 Percent Year-Over-Year and 1 Percent SequentiallySecond Quarter GAAP EPS of ($0.07) vs. ($0.08) in the
About this update from Lantronix, Inc.
[{"type":"text","content":"Second Quarter Net Revenue of $31.5 Million, Down 6 Percent Year-Over-Year and 1 Percent SequentiallySecond Quarter GAAP EPS of ($0.07) vs. ($0.08) in the Prior Year Second Quarter Non-GAAP EPS of $0.04 vs. $0.10 in the Prior Year IRVINE, Calif., Feb. 09, 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 second quarter of fiscal 2023. Net revenue totaled $31.5 million, down 6 percent year-over-year and down 1 percent sequentially. GAAP EPS of ($0.07), compared to ($0.08) in the prior year and ($0.05) in the prior quarter. Non-GAAP EPS of $0.04, compared to $0.10 in the prior year and $0.07 in the prior quarter. Business Outlook The company currently expects full year fiscal 2023 revenues in a range of $135 to $145 million, up 4 percent to 12 percent year-over-year, and non-GAAP EPS in a range of $0.27 to $0.33 per share, flat to down 22 percent year-over-year. Conference Call and Webcast Lantronix will host an investor conference call and audio webcast on Thursday, Feb. 9, 2023, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its results for the second quarter of fiscal 2023 that ended Dec. 31, 2022. 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 Q2 FY 2023 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 Thursday, Feb. 9, 2023, at the Lantronix website. A telephonic replay will also be available through Feb. 16, 2023, by dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) and entering passcode 3746642. About Lantronix Lantronix Inc. is 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. Lantronix enables its customers to accelerate time to market and increase operational up-time and efficiency by providing reliable, secure and connected Intelligent Edge IoT and Remote Management Gateway sol...