Business
Lantronix Reports Results for Third Quarter of Fiscal 2023
Third Quarter Net Revenue of $33.0 Million, Up 5 Percent Sequentially and 2 Percent Year over YearThird Quarter GAAP EPS of ($0.08) vs. ($0.09) in the Prior
About this update from Lantronix, Inc.
[{"type":"text","content":"Third Quarter Net Revenue of $33.0 Million, Up 5 Percent Sequentially and 2 Percent Year over YearThird Quarter GAAP EPS of ($0.08) vs. ($0.09) in the Prior Year Third Quarter Non-GAAP EPS of $0.06 vs. $0.08 in the Prior Year IRVINE, Calif., May 10, 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 third quarter of fiscal 2023. Net revenue totaled $33.0 million, up five percent sequentially and two percent year over year. GAAP EPS of ($0.08), compared to ($0.09) in the prior year and ($0.07) in the prior quarter. Non-GAAP EPS of $0.06, compared to $0.08 in the prior year and $0.04 in the prior quarter. Business Outlook The company currently expects fourth quarter fiscal year 2023 revenues in a range of $33 to $36 million and non-GAAP EPS in a range of $0.06 to $0.08 per share. For fiscal year 2024, the company expects revenue in a range of $175 to $185 million and non-GAAP EPS in a range of $0.50 to $0.60 per share. Conference Call and Webcast Lantronix will host an investor conference call and audio webcast on Wednesday, May 10, 2023, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its results for the third quarter of fiscal 2023 that ended March 31, 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 Q3 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 May 10, 2023, at the Lantronix website. A telephonic replay will also be available through May 17, 2023, by dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) and entering passcode 8176277. 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 Intelli...