Digi International Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2015; Provides Earnings Guidance for the Second Quarter of Fiscal 2016 and Revises Earnings Guidance for the Fiscal Year 2016
January 22, 2016 at 02:35 am IST
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Digi International Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company reported total revenue of $50,259,000 against $47,218,000 a year ago. Operating income was $3,289,000 against $464,000 a year ago. Income from continuing operations, before income taxes was $3,512,000 against $890,000 a year ago. Income from continuing operations was $3,131,000 or $0.12 per basic and diluted share against $1,018,000 or $0.04 per basic and diluted share a year ago. Net income was $6,450,000 or $0.25 per basic and diluted share against net loss of $339,000 or $0.01 per basic and diluted share a year ago. Net cash provided by operating activities was $3,555,000 against $5,343,000 a year ago. Purchase of property, equipment, improvements and certain other intangible assets was $545,000 against $1,469,000 a year ago. EBITDA from continuing operations in the first fiscal quarter of 2016 was $4.6 million, or 9.1% of total revenue, compared to $2.2 million, or 4.8% of total revenue, in the first fiscal quarter of 2015. Adjusted income from continuing operations was $2,887,000 or $0.11 per diluted share against $530,000 or $0.02 per diluted share a year ago.
For the second fiscal quarter of 2016, The company anticipates that the same macroeconomic pressures company are currently experiencing will continue. The company projects revenue to be in the range of $47 million to $51 million. The company projects income per diluted share from continuing operations to be in the range of $0.03 to $0.07 for the second fiscal quarter of 2016.
For the full fiscal year 2016, Digi has lowered its previously announced guidance and now projects revenue to be in a range of $205 million to $215 million, which represents growth of 1% to 4% over fiscal 2015. This is down from the $209 million to $223 million company guided to previously. Digi projects income per diluted share from continuing operations to be in a range of $0.27 to $0.41 versus prior guidance of $0.28 to $0.44.
Digi International Inc. is a global provider of Internet of Things (IoT) connectivity products, services and solutions. The Company helps its customers deploy, monitor and manage critical communications infrastructures. Its segments include IoT Products and Services, and IoT Solutions. The IoT Products and Services segment offers products and services that help original equipment manufacturers as well as enterprise and government customers create and deploy secure IoT connectivity solutions. These include embedded and wireless modules, console servers, enterprise and industrial routers as well as other infrastructure management equipment. The Company also provides its customers with a device management platform as well as other professional services. The IoT Solutions segment consists of SmartSense by Digi business and managed network-as-a-service business. It offers wireless temperature and other condition-based monitoring services as well as employee task management services.
Digi International Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2015; Provides Earnings Guidance for the Second Quarter of Fiscal 2016 and Revises Earnings Guidance for the Fiscal Year 2016