Lantronix, Inc. (the “Company”) (NASDAQ:LTRX) a global provider of
secure data access and management solutions for Internet of Things
(IoT) and information technology (IT) assets, today reported
results for its fourth quarter and fiscal year for the period ended
June 30, 2016.
Financial Highlights for Fourth Fiscal
Quarter
- Net revenue of $10.5 million
- Gross profit margin of 47.0%
- GAAP net loss of $247,000 or $0.02 per share
- Non-GAAP net income of $121,000 or $0.01 per share
- Cash and cash equivalents of $6.0 million
Operational and Product Highlights:
- During the fourth quarter of fiscal 2016, sales of the
company’s SLC 8000 advanced console manager increased by more than
200% over the same period in fiscal 2015, and grew by 22%
sequentially from the third quarter of fiscal 2016.
- In June, the company announced that Martin Hale Jr., founder
and CEO of Hale Capital Partners, was appointed to its board of
directors as an independent director. Hale currently serves as a
director of FalconStor Software and he has previously served as a
director of several other public technology companies.
- In July, the company announced the opening of a new IoT
software lab in Hyderabad, India.
- Most recently, the company announced the launch of the
Lantronix SmartAdvantage program, a new marketing program designed
to give significant incentives and discounts for approved resellers
to market and sell the Lantronix SLC 8000 and related IT management
products.
“Our results for the fourth quarter reflect the continued
progress we are making in driving operational excellence,
establishing a clear product focus, and getting the right team in
place to execute our plan,” said Jeffrey Benck, Lantronix president
and CEO. “As we enter fiscal year 2017, we are focused on one
mission: delivering secure data access and management solutions for
IoT and IT assets, which we believe will allow us to capture more
of the opportunity that the IoT market represents.”
Financial Results for Fourth Quarter of Fiscal Year
2016
Net revenue was $10.5 million for the fourth quarter of fiscal
2016, compared with $10.2 million for the fourth quarter of fiscal
2015, and $10.0 million for the third quarter of fiscal 2016.
Gross profit margin was 47.0% for the fourth quarter of fiscal
2016, compared to 47.1% for the fourth quarter of fiscal 2015, and
48.0% for the third quarter of fiscal 2016.
Operating expenses were $5.2 million for the fourth quarter of
fiscal 2016, compared with $5.8 million for the fourth quarter of
fiscal 2015 and $5.2 million for the third quarter of fiscal
2016.
GAAP net loss for the fourth quarter of fiscal 2016 was
$247,000, or $0.02 per share, compared with GAAP net loss of $1.0
million, or $0.07 per share for the fourth quarter of fiscal 2015
and GAAP net loss of $456,000, or $0.03 per share for the third
quarter of fiscal 2016.
Non-GAAP net income for the fourth quarter of fiscal 2016 was
$121,000, or $0.01 per share, compared with non-GAAP net loss of
$575,000, or $0.04 per share for the fourth quarter of fiscal 2015
and non-GAAP net income of $189,000, or $0.01 per share for the
third quarter of fiscal 2016. For additional information regarding
our non-GAAP results, see “Discussion of Non-GAAP Financial
Measures” below.
Financial Results for Fiscal Year 2016
Net revenue was $40.6 million for the fiscal year ended June 30,
2016, compared with $42.9 million for the fiscal year ended June
30, 2015. The 5% decline in total net revenue was primarily due to
an 11% decline in Legacy Product sales, which was partially offset
by 27% growth in New Product sales.
GAAP net loss was $2.0 million, or $0.13 per share for the
fiscal year ended June 30, 2016, compared with GAAP net loss of
$2.8 million, or $0.19 per share for the fiscal year ended June 30,
2015.
Non-GAAP net income was $238,000, or $0.02 per share, for the
fiscal year ended June 30, 2016, compared with non-GAAP net loss of
$767,000, or $0.05 per share, for the fiscal year ended June 30,
2015.
Cash and cash equivalents were $6.0 million as of June 30, 2016
compared with $5.0 million as of June 30, 2015. Increase in cash
was primarily related to a $2.0 million equity investment from Hale
Capital Partners in June and a $2.9 million reduction in net
inventory.
Conference Call and Webcast
Lantronix will host an investor conference call with a
simultaneous audio webcast today at 2:00 p.m. Pacific Time (5:00
p.m. Eastern Time) to discuss its fourth quarter and fiscal 2016
results. To access the live conference call, investors should dial
1-844-802-2442 (US) or 1-412-317-5135 (international) and indicate
that they are participating in the Lantronix Fourth Quarter and FY
2016 call. The webcast will be available simultaneously via the
investor relations section of the Company’s website at
www.lantronix.com.
Investors can access a replay of the conference call starting at
approximately 5:00 p.m. Pacific Time today at www.lantronix.com. A
telephonic replay will also be available through August 30, 2016 by
dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) and
entering passcode 10091231.
About Lantronix
Lantronix, Inc. (the “Company,” “Lantronix,” “we,” “our,” or
“us”) is a global provider of secure data access and management
solutions for Internet of Things (IoT) and information technology
(IT) assets. Our mission is to be the leading supplier of IoT
gateways that enable companies to dramatically simplify the
creation, deployment, and management of IoT projects while
providing secure access to data for applications and people.
With more than two decades of experience in creating robust
machine to machine (M2M) technologies, Lantronix is an innovator in
enabling our customers to build new business models and realize the
possibilities of the Internet of Things. Our connectivity solutions
are deployed inside millions of machines serving a wide range of
industries, including data center, medical, security, industrial,
transportation, retail, financial, environmental and
government.
Lantronix is headquartered in Irvine, California, with offices
in Europe and Asia. For more information, visit
www.lantronix.com.
Learn more at the Lantronix blog, www.lantronix.com/blog,
featuring industry discussion and updates. To follow Lantronix on
Twitter, please visit www.twitter.com/Lantronix. View our video
library on YouTube at www.youtube.com/user/LantronixInc or connect
with us on LinkedIn at www.linkedin.com/company/lantronix.
Discussion of Non-GAAP Financial Measures
Lantronix believes that the presentation of non-GAAP financial
information, when presented in conjunction with the corresponding
GAAP measures, provides important supplemental information to
management and investors regarding financial and business trends
relating to the Company's financial condition and results of
operations. The non-GAAP financial measures disclosed by the
Company should not be considered a substitute for, or superior to,
financial measures calculated in accordance with GAAP, and the
financial results calculated in accordance with GAAP and
reconciliations of the non-GAAP financial measures to the financial
measures calculated in accordance with GAAP should be carefully
evaluated. The non-GAAP financial measures used by the Company may
be calculated differently from, and therefore may not be comparable
to, similarly titled measures used by other companies. The Company
has provided reconciliations of the non-GAAP financial measures to
the most directly comparable GAAP financial measures. Management
believes that non-GAAP net income (loss) and non-GAAP net income
(loss) per share are important measures of the Company’s business.
Management uses the aforementioned non-GAAP measures to monitor and
evaluate ongoing operating results and trends to gain an
understanding of our comparative operating performance.
Non-GAAP net income (loss) consists of net income (loss)
excluding (i) non-GAAP adjustments to operating expenses, (ii)
interest income (expense), (iii) other income (expense), (iv)
income tax provision (benefit), and (v) severance and restructuring
charges.
Non-GAAP net income (loss) per share is calculated by dividing
non-GAAP net income (loss) by non-GAAP weighted-average shares
outstanding (diluted). For purposes of calculating non-GAAP net
income (loss) per share, the calculation of GAAP weighted-average
shares outstanding (diluted) is adjusted to exclude share-based
compensation, which for GAAP purposes is treated as proceeds
assumed to be used to repurchase shares under the GAAP treasury
stock method.
Forward-Looking Statements
This news release contains forward-looking statements, including
statements concerning our sales expansion efforts, our
relationships with certain customers, and our projected operating
and financial performance. These forward-looking statements are
intended to qualify for the safe harbor from liability established
by the Private Securities Litigation Reform Act of 1995. We have
based our forward-looking statements on our current expectations
and projections about trends affecting our business and industry
and other future events. Although we do not make forward-looking
statements unless we believe we have a reasonable basis for doing
so, we cannot guarantee their accuracy. Forward-looking statements
are subject to substantial risks and uncertainties that could cause
our results or experiences, or future business, financial
condition, results of operations or performance, to differ
materially from our historical results or those expressed or
implied in any forward-looking statement contained in this news
release. Some of the risks and uncertainties that may cause actual
results to differ from those expressed or implied in the
forward-looking statements are described in “Risk Factors” in our
Annual Report on Form 10-K filed with the Securities and Exchange
Commission, or SEC, as well as in our other filings with the SEC.
In addition, actual results may differ as a result of additional
risks and uncertainties of which we are currently unaware or which
we do not currently view as material to our business. For these
reasons, investors are cautioned not to place undue reliance on any
forward-looking statements. The forward-looking statements we make
speak only as of the date on which they are made. We expressly
disclaim any intent or obligation to update any forward-looking
statements after the date hereof to conform such statements to
actual results or to changes in our opinions or expectations,
except as required by applicable law or the rules of the NASDAQ
Stock Market, LLC. If we do update or correct any forward-looking
statements, investors should not conclude that we will make
additional updates or corrections.
© 2016 Lantronix, Inc. All rights reserved. Lantronix is a
registered trademark, and SLC is a trademark, of Lantronix, Inc.
All other trademarks and trade names are the property of their
respective holders.
|
LANTRONIX, INC. |
Unaudited Consolidated Balance
Sheets |
(In thousands,
except share and par value
data) |
|
|
|
June 30, |
|
June 30, |
|
|
|
2016 |
|
|
|
2015 |
|
|
|
|
|
|
Assets |
|
|
|
|
Current
Assets: |
|
|
|
|
Cash and
cash equivalents |
|
$ |
5,962 |
|
|
$ |
4,989 |
|
Accounts
receivable (net of allowance for doubtful accounts of |
|
|
|
|
$37 and
$45 at June 30, 2016 and 2015, respectively) |
|
|
3,164 |
|
|
|
2,658 |
|
Inventories, net |
|
|
6,584 |
|
|
|
9,503 |
|
Contract
manufacturers' receivable |
|
|
369 |
|
|
|
369 |
|
Prepaid
expenses and other current assets |
|
|
580 |
|
|
|
400 |
|
Total
current assets |
|
|
16,659 |
|
|
|
17,919 |
|
|
|
|
|
|
Property
and equipment, net |
|
|
1,569 |
|
|
|
1,471 |
|
Goodwill |
|
|
9,488 |
|
|
|
9,488 |
|
Other
assets |
|
|
63 |
|
|
|
93 |
|
Total
assets |
|
$ |
27,779 |
|
|
$ |
28,971 |
|
|
|
|
|
|
Liabilities and
stockholders' equity |
|
|
|
|
Current
Liabilities: |
|
|
|
|
Accounts
payable |
|
$ |
2,721 |
|
|
$ |
3,633 |
|
Line of
credit |
|
|
- |
|
|
|
700 |
|
Accrued
payroll and related expenses |
|
|
1,817 |
|
|
|
1,685 |
|
Warranty
reserve |
|
|
138 |
|
|
|
163 |
|
Other
current liabilities |
|
|
2,922 |
|
|
|
3,849 |
|
Total
current liabilities |
|
|
7,598 |
|
|
|
10,030 |
|
Long-term
capital lease obligations |
|
|
116 |
|
|
|
152 |
|
Other
non-current liabilities |
|
|
347 |
|
|
|
80 |
|
Total
liabilities |
|
|
8,061 |
|
|
|
10,262 |
|
|
|
|
|
|
Commitments and
contingencies |
|
|
|
|
|
|
|
|
|
Stockholders'
equity: |
|
|
|
|
Preferred
stock, $0.0001 par value; 5,000,000 shares authorized; |
|
|
|
|
none
issued and outstanding |
|
|
- |
|
|
|
- |
|
Common
stock, $0.0001 par value; 100,000,000 shares authorized; |
|
|
|
|
17,253,799 and 15,089,720 shares issued and outstanding at |
|
|
|
|
June 30,
2016 and 2015, respectively |
|
|
2 |
|
|
|
2 |
|
Additional paid-in capital |
|
|
209,297 |
|
|
|
206,326 |
|
Accumulated deficit |
|
|
(189,952 |
) |
|
|
(187,990 |
) |
Accumulated other comprehensive income |
|
|
371 |
|
|
|
371 |
|
Total
stockholders' equity |
|
|
19,718 |
|
|
|
18,709 |
|
Total
liabilities and stockholders' equity |
|
$ |
27,779 |
|
|
$ |
28,971 |
|
|
|
|
|
|
LANTRONIX, INC. |
Unaudited Consolidated Statements of
Operations |
(In thousands, except per share
data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
Years Ended |
|
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
|
|
2016 |
|
|
|
2016 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue (1) |
|
$ |
10,515 |
|
|
$ |
9,964 |
|
|
$ |
10,231 |
|
|
$ |
40,592 |
|
|
$ |
42,946 |
|
Cost of revenue |
|
|
5,571 |
|
|
|
5,186 |
|
|
|
5,411 |
|
|
|
21,214 |
|
|
|
22,648 |
|
Gross profit |
|
|
4,944 |
|
|
|
4,778 |
|
|
|
4,820 |
|
|
|
19,378 |
|
|
|
20,298 |
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative |
|
|
3,388 |
|
|
|
3,469 |
|
|
|
4,060 |
|
|
|
14,396 |
|
|
|
16,041 |
|
Research
and development |
|
|
1,779 |
|
|
|
1,744 |
|
|
|
1,778 |
|
|
|
6,910 |
|
|
|
6,923 |
|
Total operating
expenses |
|
|
5,167 |
|
|
|
5,213 |
|
|
|
5,838 |
|
|
|
21,306 |
|
|
|
22,964 |
|
Loss from
operations |
|
|
(223 |
) |
|
|
(435 |
) |
|
|
(1,018 |
) |
|
|
(1,928 |
) |
|
|
(2,666 |
) |
Interest expense,
net |
|
|
(9 |
) |
|
|
(8 |
) |
|
|
(5 |
) |
|
|
(32 |
) |
|
|
(17 |
) |
Other income (expense),
net |
|
|
14 |
|
|
|
- |
|
|
|
(5 |
) |
|
|
61 |
|
|
|
(30 |
) |
Loss before income
taxes |
|
|
(218 |
) |
|
|
(443 |
) |
|
|
(1,028 |
) |
|
|
(1,899 |
) |
|
|
(2,713 |
) |
Provision for income
taxes |
|
|
29 |
|
|
|
13 |
|
|
|
10 |
|
|
|
63 |
|
|
|
58 |
|
Net loss |
|
$ |
(247 |
) |
|
$ |
(456 |
) |
|
$ |
(1,038 |
) |
|
$ |
(1,962 |
) |
|
$ |
(2,771 |
) |
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
(basic and diluted) |
|
$ |
(0.02 |
) |
|
$ |
(0.03 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.19 |
) |
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares
(basic and diluted) |
|
|
15,554 |
|
|
|
15,225 |
|
|
|
15,012 |
|
|
|
15,260 |
|
|
|
14,904 |
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue from
related parties |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
79 |
|
|
$ |
113 |
|
|
$ |
298 |
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes net
revenue from related parties |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LANTRONIX, INC. |
Unaudited Reconciliation of Non-GAAP
Adjustments |
(In thousands, except per share
data) |
|
|
Three Months
Ended |
|
Years Ended |
|
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
|
|
2016 |
|
|
|
2016 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss |
|
$ |
(247 |
) |
|
$ |
(456 |
) |
|
$ |
(1,038 |
) |
|
$ |
(1,962 |
) |
|
$ |
(2,771 |
) |
Non-GAAP
adjustments: |
|
|
|
|
|
|
|
|
|
|
Cost of
revenue: |
|
|
|
|
|
|
|
|
|
|
Share-based compensation |
|
|
11 |
|
|
|
14 |
|
|
|
16 |
|
|
|
63 |
|
|
|
69 |
|
Depreciation and amortization |
|
|
84 |
|
|
|
120 |
|
|
|
140 |
|
|
|
477 |
|
|
|
571 |
|
Total
adjustment to costs of revenue |
|
|
95 |
|
|
|
134 |
|
|
|
156 |
|
|
|
540 |
|
|
|
640 |
|
Selling,
general and administrative: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation |
|
|
148 |
|
|
|
131 |
|
|
|
187 |
|
|
|
632 |
|
|
|
745 |
|
Employer
portion of withholding taxes on stock grants |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
4 |
|
|
|
- |
|
Depreciation and amortization |
|
|
56 |
|
|
|
55 |
|
|
|
37 |
|
|
|
227 |
|
|
|
217 |
|
Total
adjustments to selling, general and administrative |
|
|
204 |
|
|
|
186 |
|
|
|
224 |
|
|
|
863 |
|
|
|
962 |
|
Research
and development: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation |
|
|
40 |
|
|
|
41 |
|
|
|
42 |
|
|
|
175 |
|
|
|
201 |
|
Employer
portion of withholding taxes on stock grants |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
6 |
|
Depreciation and amortization |
|
|
5 |
|
|
|
16 |
|
|
|
21 |
|
|
|
55 |
|
|
|
90 |
|
Total
adjustments to research and development |
|
|
45 |
|
|
|
57 |
|
|
|
63 |
|
|
|
230 |
|
|
|
297 |
|
Severance
charges |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
286 |
|
|
|
- |
|
Restructuring charges |
|
|
- |
|
|
|
247 |
|
|
|
- |
|
|
|
247 |
|
|
|
- |
|
Total
non-GAAP adjustments to operating expenses |
|
|
249 |
|
|
|
490 |
|
|
|
287 |
|
|
|
1,626 |
|
|
|
1,259 |
|
Interest
expense, net |
|
|
9 |
|
|
|
8 |
|
|
|
5 |
|
|
|
32 |
|
|
|
17 |
|
Other
(income) expense, net |
|
|
(14 |
) |
|
|
- |
|
|
|
5 |
|
|
|
(61 |
) |
|
|
30 |
|
Provision
for income taxes |
|
|
29 |
|
|
|
13 |
|
|
|
10 |
|
|
|
63 |
|
|
|
58 |
|
Total
Non-GAAP adjustments |
|
|
368 |
|
|
|
645 |
|
|
|
463 |
|
|
|
2,200 |
|
|
|
2,004 |
|
Non-GAAP
net income (loss) |
|
$ |
121 |
|
|
$ |
189 |
|
|
$ |
(575 |
) |
|
$ |
238 |
|
|
$ |
(767 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) per share (diluted) |
|
$ |
0.01 |
|
|
$ |
0.01 |
|
|
$ |
(0.04 |
) |
|
$ |
0.02 |
|
|
$ |
(0.05 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator for GAAP net income (loss) per share (diluted) |
|
|
15,554 |
|
|
|
15,225 |
|
|
|
15,012 |
|
|
|
15,260 |
|
|
|
14,904 |
|
Non-GAAP
adjustment |
|
|
336 |
|
|
|
88 |
|
|
|
- |
|
|
|
157 |
|
|
|
- |
|
Denominator for non-GAAP net income (loss) per share (diluted) |
|
|
15,890 |
|
|
|
15,313 |
|
|
|
15,012 |
|
|
|
15,417 |
|
|
|
14,904 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating
expenses |
|
$ |
5,167 |
|
|
$ |
5,213 |
|
|
$ |
5,838 |
|
|
$ |
21,306 |
|
|
$ |
22,964 |
|
Non-GAAP adjustments to
operating expenses |
|
|
(249 |
) |
|
|
(490 |
) |
|
|
(287 |
) |
|
|
(1,626 |
) |
|
|
(1,259 |
) |
Non-GAAP operating
expenses |
|
$ |
4,918 |
|
|
$ |
4,723 |
|
|
$ |
5,551 |
|
|
$ |
19,680 |
|
|
$ |
21,705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To more closely align the categorization of our product lines
with how we position them in the marketplace, we have reorganized
our products and solutions into three product lines: IoT, IT
Management and Other. Until this recent change, we had organized
our products and solutions into two product lines: IoT Modules and
Enterprise Solutions. In addition, we had defined “New Products” as
those that had been released since the start of the second quarter
of the fiscal year ended June 30, 2012; all other products had been
referred to as “Legacy Products.”
|
LANTRONIX, INC. |
Unaudited Net Revenues by Product Line and
Region |
(In thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Years Ended |
|
|
|
|
June 30, 2016 |
|
March 31, 2016 |
|
June 30, 2015 |
|
June 30, 2016 |
|
June 30, 2015 |
IoT |
|
|
|
$ |
8,029 |
|
|
$ |
7,572 |
|
|
$ |
7,649 |
|
|
$ |
30,568 |
|
|
$ |
32,067 |
|
IT Management |
|
|
|
|
1,585 |
|
|
|
1,251 |
|
|
|
1,179 |
|
|
|
5,279 |
|
|
|
3,871 |
|
Other |
|
|
|
|
901 |
|
|
|
1,141 |
|
|
|
1,403 |
|
|
|
4,745 |
|
|
|
7,008 |
|
|
|
|
|
$ |
10,515 |
|
|
$ |
9,964 |
|
|
$ |
10,231 |
|
|
$ |
40,592 |
|
|
$ |
42,946 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Years Ended |
|
|
|
|
June 30, 2016 |
|
March 31, 2016 |
|
June 30, 2015 |
|
June 30, 2016 |
|
June 30, 2015 |
Americas |
|
|
|
$ |
5,305 |
|
|
$ |
5,025 |
|
|
$ |
5,603 |
|
|
$ |
20,643 |
|
|
$ |
23,178 |
|
EMEA |
|
|
|
|
3,304 |
|
|
|
3,190 |
|
|
|
3,012 |
|
|
|
13,135 |
|
|
|
12,933 |
|
Asia Pacific Japan |
|
|
|
|
1,906 |
|
|
|
1,749 |
|
|
|
1,616 |
|
|
|
6,814 |
|
|
|
6,835 |
|
|
|
|
|
$ |
10,515 |
|
|
$ |
9,964 |
|
|
$ |
10,231 |
|
|
$ |
40,592 |
|
|
$ |
42,946 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For comparative purposes, the following tables present our
product line categorizations prior to our decision to reorganize
how we present this information during the fourth quarter of fiscal
2016. Going forward, we do not plan to disclose our net revenue by
these categorizations.
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Years Ended |
|
June 30, 2016 |
|
March 31, 2016 |
|
June 30, 2015 |
|
June 30, 2016 |
|
June 30, 2015 |
IoT Modules |
$ |
5,379 |
|
|
$ |
5,240 |
|
|
$ |
5,075 |
|
|
$ |
20,747 |
|
|
$ |
21,230 |
|
Enterprise
Solutions |
|
5,136 |
|
|
|
4,724 |
|
|
|
5,156 |
|
|
|
19,845 |
|
|
|
21,716 |
|
|
$ |
10,515 |
|
|
$ |
9,964 |
|
|
$ |
10,231 |
|
|
$ |
40,592 |
|
|
$ |
42,946 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Years Ended |
|
June 30, 2016 |
|
March 31, 2016 |
|
June 30, 2015 |
|
June 30, 2016 |
|
June 30, 2015 |
New Products |
$ |
2,771 |
|
|
|
2,206 |
|
|
$ |
1,747 |
|
|
$ |
8,559 |
|
|
$ |
6,762 |
|
Legacy Products |
|
7,744 |
|
|
|
7,758 |
|
|
|
8,484 |
|
|
|
32,033 |
|
|
|
36,184 |
|
|
$ |
10,515 |
|
|
$ |
9,964 |
|
|
$ |
10,231 |
|
|
$ |
40,592 |
|
|
$ |
42,946 |
|
|
|
|
|
|
|
|
|
|
|
Investor Relations Contacts:
Jeremy Whitaker
Chief Financial Officer
949-453-3990
E.E. Wang
Director, Corporate Marketing and Investor Relations
investors@lantronix.com
949-614-5879
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