Lantronix, Inc. a leading global provider of smart IoT (Internet of Things) solutions, today reported results for its third fiscal quarter ended March 31, 2014.
Financial Highlights: Net revenue of $11.6 million Gross profit margin of 50.9%; third consecutive quarter of improvement GAAP net loss of $(130,000), or ($0.01) per share Non-GAAP net income of $331,000, or $0.02 per share; third consecutive quarter of non-GAAP net income
Operational and Product Highlights: Efforts to expand sales channels contributed to a 15% increase in Enterprise Solutions sales internationally for the nine months ended March 31, 2014 as compared to the nine months ended March 31, 2013. OEM Modules sales benefitted from the first major design win of new xPico® embedded device server moving to production with a Tier 1 customer in the security vertical. In March 2014, the Company began shipping xPrintServer® Cloud Print Edition - the newest addition to its award-winning mobile printing product family. Currently the only Google Cloud Print certified print server, xPrintServer Cloud Print Edition allows users to print to network and USB printers wirelessly from Chromebooks, laptops, Kindle Fire, and Android smartphone and tablets. In February 2014, at the Embedded World conference in NÜrnberg, Germany, the Company provided a live demonstration of Lantronix configuration firmware that enables delivery of meaningful machine data to the Google Universal Analytics service from devices using Lantronix PremierWave® and xSenso® products. At the conference, Lantronix also showcased M2M enabling solutions including an IoT-powered humanoid robot, a quad copter drone, and xPico® Wi-Fi solutions supporting Raspberry Pi and Arduino platforms. In February 2014, Lantronix announced an agreement with Arrow Electronics, a leading global provider of electronic components and technology solutions. Under the agreement, Arrow Electronics is extending its sales, marketing and distribution support for Lantronix products throughout the Europe, Middle East and Africa (EMEA) region. Arrow Electronics is a long-standing distributor of Lantronix products in the North America and Asia Pacific regions. In February 2014, the Company launched Lantronix professional services to assist customers in the development and deployment of custom M2M (machine-to-machine) applications and solutions. The range of services spans from minor engineering to large, enterprise-level projects, including developing fully-customized versions and deployments of Lantronix products.
"Our on-going new product introductions and sales expansion initiatives contributed to Lantronix achieving 6% sequential revenue growth and our third consecutive quarter of non-GAAP net income during the March quarter," said Kurt Busch, Lantronix president and CEO.