Lantronix, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
April 29, 2024 at 09:05 pm
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Lantronix, Inc. reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported sales was USD 41.18 million compared to USD 32.96 million a year ago. Net loss was USD 0.423 million compared to USD 3.07 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.08 a year ago.
For the nine months, sales was USD 111.25 million compared to USD 96.27 million a year ago. Net loss was USD 4.9 million compared to USD 7.33 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to USD 0.2 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to USD 0.2 a year ago.
Lantronix, Inc. is a global provider of compute and connectivity Internet of Things (IoT) solutions that target industries, including smart cities, automotive and enterprise. It provides Software as a Service (SaaS), connectivity services, engineering services, intelligent hardware, and turnkey solutions for the IoT and remote environment management. Its solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management for Cloud and Edge Computing. It organizes its portfolio of services and products into product lines: Embedded IoT Modules, IoT Systems Solutions, and Software and Engineering Services. Its SaaS platform provides single pane of glass management for remote environment management and IoT deployments. Its Percepxion is a Cloud IoT Edge Solutions platform. The Company has launched its FOX4 and Bolero 43 edge compute tracker telematics portals.