Lantronix, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Provides Earnings Guidance for the Fiscal Third Quarter of 2018
January 25, 2018 at 04:15 pm
Share
Lantronix, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the quarter, net revenue was $11,336,000 against $11,222,000 a year ago. Income from operations was $267,000 against $66,000 a year ago. Income before income taxes was $263,000 against $64,000 a year ago. Net income was $225,000 against $41,000 a year ago. Net income per basic and diluted share was $0.01. Non-GAAP net income was $689,000 against $444,000 a year ago. The sequential increase in net revenue was primarily due to growth of the company's IT management product line, driven by record sales of the company's SLB.
For six months, net revenue was $21,942,000 against $22,162,000 a year ago. Loss from operations was $346,000 against $21,000 a year ago. Loss before income taxes was $353,000 against $33,000 a year ago. Net loss was $416,000 against $63,000 a year ago. Net loss per basic and diluted share was $0.02. Non-GAAP net income was $995,000 against $709,000 a year ago.
The company provided earnings guidance for the fiscal third quarter of 2018. The company expects gross margins to remain in the range of what the company has seen during the last couple of quarters. The company expects operating expenses to increase sequentially by a few hundred thousand due to the annual reset of employment taxes in the U.S. and the addition of new resources to meet the company's 2018 operating plan.
Lantronix, Inc. is a global provider of compute and connectivity Internet of Things (IoT) solutions that target industries, including smart cities, automotive and enterprise. It provides Software as a Service (SaaS), connectivity services, engineering services, intelligent hardware, and turnkey solutions for the IoT and remote environment management. Its solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management for Cloud and Edge Computing. It organizes its portfolio of services and products into product lines: Embedded IoT Modules, IoT Systems Solutions, and Software and Engineering Services. Its SaaS platform provides single pane of glass management for remote environment management and IoT deployments. Its Percepxion is a Cloud IoT Edge Solutions platform. The Company has launched its FOX4 and Bolero 43 edge compute tracker telematics portals.
Lantronix, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Provides Earnings Guidance for the Fiscal Third Quarter of 2018