Digi International Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2016. For the quarter, the company reported total revenue of $45,175,000 against $50,259,000 a year ago. Operating income was $2,422,000 against $3,289,000 a year ago. Income from continuing operations, before income taxes was $3,122,000 against $3,512,000 a year ago. Income from continuing operations was $2,357,000 or $0.09 per basic and diluted share against $3,131,000 or $0.12 per basic and diluted share a year ago. Net income was $2,357,000 or $0.09 per basic and diluted share against $6,450,000 or $0.25 per basic and diluted share a year ago. Net cash used in operating activities was $2,035,000 against net cash provided by operating activities of $3,555,000 a year ago. Purchase of property, equipment, improvements and certain other intangible assets was $554,000 against $545,000 a year ago. EBITDA from continuing operations was $4.0 million, or 8.8% of total revenue, compared to $4.6 million, or 9.1% of total revenue, in the first fiscal quarter of 2016. Adjusted income from continuing operations was $2,253,000 or $0.08 per diluted share against $2,887,000 or $0.11 per diluted share a year ago. Operating income decreased by $0.9 million as a result of a decrease in gross profit of $2.9 million, which was partially offset by a decrease in operating expenses of $2.0 million.

For the second fiscal quarter of 2017, the company projects revenue to be in a range of $47 million to $50 million and income per diluted share from continuing operations to be in a range of $0.06 to $0.09.

For the full fiscal year 2017, the company projects revenue to be in a range of $201 million to $211 million, and income per diluted share from continuing operations to be in a range of $0.40 to $0.48.