Lantronix, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2013
January 31, 2014 at 02:35 am IST
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Lantronix, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2013. Net revenue was $11.0 million for the second quarter of fiscal 2014, a decrease of $1.2 million, compared to $12.2 million for the second quarter of fiscal 2013 and an increase of $85,000, compared to $10.9 million for the first quarter of fiscal 2014. The year-over-year decline in net revenue was primarily due to a decrease in sales of mature product families. GAAP net loss for the second quarter of fiscal 2014 was $323,000 or $0.02 per share, compared to a GAAP net loss of $412,000 or $0.03 per share for the second quarter of fiscal 2013 and a GAAP net loss of $267,000 or $0.02 per share, for the first quarter of fiscal 2014. Non-GAAP net income for the second quarter of fiscal 2014 was $191,000, or $0.01 per share compared to non-GAAP net income of $70,000 or $0.00 per share for the second quarter of fiscal 2013 and a non-GAAP net income of $220,000, or $0.01 per share, for the first quarter of fiscal 2014. Loss from operations was $0.268 million against $0.352 million a year ago. Loss before income taxes was $0.297 million against $0.391 million a year ago. Net loss and comprehensive loss was $0.323 million or $0.02 basic and diluted per share against $0.412 million or $0.03 basic and diluted per share a year ago.
For the six-month period, the company reported net revenues were $21.851 million against $23.364 million a year ago. Loss from operations was $0.507 million against $0.757 million a year ago. Loss before income taxes was $0.551 million against $0.806 million a year ago. Net loss and comprehensive loss was $0.590 million or $0.04 basic and diluted per share against $0.842 million or $0.06 basic and diluted per share a year ago. Non-GAAP net income was $0.411 million or $0.03 diluted per share against $0.118 million or $0.01 diluted 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.