Lantronix, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014
January 29, 2015 at 04:05 pm EST
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Lantronix, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, net revenue was $10,735,000 compared to $10,968,000 a year ago. Loss from operation was $604,000 compared to $268,000 a year ago. Loss before income taxes was $606,000 compared to $297,000 a year ago. Net loss and comprehensive loss was $632,000 or $0.04 per basic and diluted share compared to $323,000 or $0.02 per basic and diluted share a year ago. Non GAAP net loss was $99,000 or $0.01 per diluted share compared to non GAAP net income of $191,000 or $0.01 per diluted share a year ago. The sequential and year-over-year decrease in net revenue was primarily due to delays in closing project-based opportunities.
For the six months, net revenue was $22,271,000 compared to $21,851,000 a year ago. Loss from operation was $824,000 compared to $507,000 a year ago. Loss before income taxes was $852,000 compared to $551,000 a year ago. Net loss and comprehensive loss was $894,000 or $0.06 per basic and diluted share compared to $590,000 or $0.04 per basic and diluted share a year ago. Non GAAP net income was $165,000 or $0.01 per diluted share compared to $411,000 or $0.03 per diluted 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.