Lantronix Reports Fiscal Year-End 2019 Results

Lantronix (NASDAQ:LTRX), a company principally engaged in secure industrial IoT connectivity products announced its unaudited fiscal 2019 year-end financial reports. The company reported an increase in net revenues to US$46.89 million, from US$45.58 million in 2018. In addition, the company experienced a net loss of US$408 million, a sharp turn from US$680 million in net income reported in 2018.

As quoted in the press release:

Financial Highlights for Fiscal Year 2019

• Net revenue of $46.9 million

• Gross profit margin of 56.0%

• GAAP net loss of $408,000, or $0.02 per share

• Non-GAAP net income of $3.7 million, or $0.16 per share

First Quarter Fiscal 2020 Guidance

• Net revenue of $12 to $13 million

• Non-GAAP net income (loss) per share of ($0.03) to $0.00

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