Lantronix, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012
January 31, 2013 at 04:19 pm EST
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Lantronix, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net revenue was $12.16 million against $10.45 million a year ago, primarily due to an increase in unit sales of company's new products, and to a lesser extent, revenue growth of older products in each of 3 major product lines. Loss from operations was $0.352 million against $1.33 million a year ago. Loss before income tax was $0.391 million against $1.36 million a year ago. Net loss and comprehensive loss was $0.412 million against $1.38 million a year ago. Basic and diluted loss per share was $0.03 against $0.13 a year ago. Non-GAAP net income was $0.070 million or $0.00 diluted per share against loss of $0.629 million or $0.06 diluted loss per share a year ago.
For the six months, the company reported net revenue was $23.36 million against $21.64 million a year ago. Loss from operations was $0.757 million against $2.71 million a year ago. Loss before income tax benefit was $0.806 million against $2.79 million a year ago. Net loss and comprehensive loss was $0.842 million against $2.82 million a year ago. Basic and diluted loss per share was $0.06 against $0.27 a year ago. Non-GAAP net income was $0.118 million or $0.01 diluted per share against loss of $1.33 million or $0.13 diluted loss per share a year ago.
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.