Business
Lantronix Reports Second Quarter Fiscal 2020 Results
Second Quarter Net Revenue was $13.2 Million, Up 9% from the Prior Year and Up 4% Sequentially GAAP EPS, Inclusive of Acquisition and Restructuring Expenses
About this update from Lantronix, Inc.
[{"type":"text","content":"Second Quarter Net Revenue was $13.2 Million, Up 9% from the Prior Year and Up 4% Sequentially GAAP EPS, Inclusive of Acquisition and Restructuring Expenses was ($0.06) per shareNon-GAAP EPS was $0.03 per shareClosed the Acquisition of Intrinsyc Technologies Corporation on January 16, 2020 IRVINE, Calif., Feb. 12, 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 second quarter of fiscal 2020 that ended December 31, 2019.\n Net revenue totaled $13.2 million, up 9% year over year and 4% sequentially. GAAP EPS was ($0.06), compared to $0.01 in the year-ago quarter and ($0.11) in the prior quarter and included expenses related to the acquisitions of Maestro and Intrinsyc Technologies Corporation. Non-GAAP EPS was $0.03, compared to $0.03 in the year-ago second quarter and $0.00 in the prior fiscal quarter. Business Outlook For the third quarter of fiscal 2020, Lantronix expects net revenue of $18 million plus or minus 10% and non-GAAP EPS between $0.02 and $0.06. For Fiscal 2020, Lantronix expects net revenue growth between 30% to 35% and non-GAAP EPS growth between 0% to 10%. “We are executing on the transformation of Lantronix,” said Paul Pickle, president and CEO of Lantronix. “With the recently announced closure of the Intrinsyc Technologies acquisition, we have further expanded our capabilities within the IoT value stack, and we are quickly becoming a value-added IoT solutions supplier to our customers. We remain focused on revenue growth and as we look to the remainder of the fiscal year, our attention is turning to integration and the realization of efficiencies of scale for the benefit of our shareholders.” 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 second quarter of fiscal 2020 that ended December 31, 2019. 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 2020 call. The webcast will be available simultaneously via the investor relations section of the Company’s website at www.lantronix.com. Investors can access a repla...