IRVINE, CA -- (Marketwired) -- 08/29/13 --
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 fourth quarter and fiscal year ended June 30, 2013.
•Net revenue of $46.7 million, a 3% increase •Gross profit as a percentage of net revenue of 47.4% •GAAP net loss of $(2.8) million, or ($0.19) per share •Non-GAAP net loss of $(935,000), or ($0.06) per share
Fiscal Fourth Quarter:
•Net revenue of $11.1 million•Gross profit as a percentage of net revenue of 44.7% •GAAP net loss of $(1.1) million, or ($0.08) per share •Non-GAAP net loss of $(665,000), or ($0.05) per share
•Expanded worldwide sales and distribution channels during fiscal 2013 with new agreements and partnerships with Ingram Micro Europe, Arrow Electronics, and Mouser Electronics.
•Expanded presence in Asia with the opening of a new office in Shanghai, China, announced in August 2013.
•Launched into production seven new products during fiscal 2013: xPrintServer® Home and Office editions, xDirect™, vSLM™, xSenso™ and xSenso™ Controller, and Lantronix® SLB. During fiscal 2012, the Company launched five new products.
•In August 2013, the Company announced global availability of xPico® Wi-Fi, the latest addition to its new xPico product family. announced at the February 2013Embedded World conference, the xPico Wi-Fi measures just under 4 cm2 and is designed for a wide range of M2M applications from small battery powered devices to large industrial installations. The xPico Wi-Fi's simultaneous access point and client mode functionality allows for secure, direct access to a machine from a smart handheld device such as a tablet, smartphone or other mobile device, making xPico Wi-Fi ideally suited for customers seeking to leverage the convergence of mobility with M2M deployments.
•In August 2013, the Company announced that its award-winning xPrintServer product family is available on JD.com, one of China's largest B2C ecommerce companies.
"During fiscal 2013, we continued to make progress on our strategic plan by further expanding our worldwide distribution and sales channels, executing on our disciplined product development strategy, and increasing awareness of our solutions in the marketplace through enhanced marketing efforts," said CEO Kurt Busch. "New product revenue contribution continued to grow, outpacing the decline in contribution from our mature products, which ultimately reversed the 8% revenue decline we experienced in fiscal 2012 and resulted in a 3% revenue increase for fiscal 2013."