Lantronix, Inc. (NASDAQ: LTRX), a global provider of secure data access and management solutions for the industrial Internet of Things (IoT) announced results for the 1st-quarter of financial 2k20 that finished September 30, 2k19.
Net revenue totaled $12.70M, up 4.0 percent year over year and 25.00 percent sequentially, reflecting the acquisition of Maestro Wireless (Maestro).
GAAP gross margin for the 1st-quarter of fiscal 2k20 was 48.60 percent, including the contribution from Maestro and a non-cash charge of $0.20M for amortization of manufacturing profit in acquired inventory.
GAAP EPS was ($0.110), compared to ($0.00) in the year-ago quarter and ($0.060) in the previous quarter and reflecting costs related to the acquisition of Maestro. Non-GAAP EPS was $0.00, down from $0.040 in the year-ago 1st-quarter and $0.030 in the previous financial quarter.
Lantronix expects net revenue in the 2nd-quarter of financial 2k20 between $12.50M and $13.50M and non-GAAP EPS between $0.020 and $0.060.
For Fiscal 2k20, Lantronix continues to expect revenue growth of 15.00 percent and non-GAAP EPS growth of 30.00 percent for its current business as compared to Fiscal 2k19. Assuming that the recently announced acquisition of Intrinsyc Technologies is closed by January of 2k20, Lantronix expects fiscal 2k20 revenue growth on the order of 25.00 percent and non-GAAP EPS growth of 35.00 percent as compared to Financial 2k19.