IRVINE, CA -- (Marketwired) -- 10/31/13 --
Lantronix, Inc. (the "Company") (NASDAQ: LTRX), a global provider of smart networking and communications solutions for machine-to-machine (M2M) applications, today reported results for its first fiscal quarter ended September 30, 2013.
•Net revenue of $10.9 million•Gross profit as a percentage of net revenue of 49.5% •GAAP net loss of $(267,000), or ($0.02) per share •Non-GAAP net income of $220,000, or $0.01 per share
Operational and Product Highlights:
•In August 2013, the Company announced global availability of the xPico® Wi-Fi module, the latest addition to its new xPico product family. The xPico Wi-Fi is designed to enable the convergence of mobility with M2M systems and suitable for a wide range of applications -- from small battery powered devices to large industrial installations.
•In August 2013, the Company expanded its presence in Asia with the opening of a new office in Shanghai, China.
•In August 2013, the Company's award-winning xPrintServer® product family became available on JD.com, one of China's largest B2C ecommerce companies.
•In August 2013, Lantronix was the official mobile print sponsor of MacWorld/iWorld Asia 2013.
•In September 2013, the Company launched PremierWave® XC HSPA+, a high speed cellular intelligent gateway and application server. The latest addition to Lantronix' PremierWave product family, PremierWave XC HSPA+ utilizes 3.5G cellular technology and delivers mobile M2M connectivity to devices and equipment previously unable to connect through wired or WiFi solutions.
•In September 2013, Lantronix announced a marketing and sales partnership with Wyless, a global M2M wireless connectivity solution provider, to provide customers with a bundled 3.5G wireless solution. Currently offered in the U.S. with Lantronix PremierWave® XC HSPA+, the Lantronix-Wyless bundle provides everything a customer needs to quickly connect, develop, deploy and use M2M applications on secure mobile data networks.
"In the first quarter of fiscal 2014, sales of our Enterprise Solutions grew, primarily due to ongoing efforts to expand our sales channels. This partially offset the decline in sales for some of our mature OEM Modules, which resulted in a decrease in overall revenue," said Lantronix CEO Kurt Busch. "In addition, through our continued fiscal and operational discipline, we achieved non-GAAP net income."