English
Français
Deutsch
Italiano
Português
Русский
Español
简体中文
日本語
By Denny Jacob
Lantronix shares rose 25% following sequential improvement in the top- and bottom-line results in its latest quarter.
The stock recently traded at $4.98 after reaching a three-month intraday high of $5.08 and is up about 13% for the year.
The company, which provides secure turnkey solutions, logged a loss of $1.7 million for the fourth quarter ended June 30, narrowing from $3.1 million in the third quarter. However, Lantronix swung to a loss in the quarter compared with net income a year earlier.
Revenue in the fourth quarter improved sequentially to $34.9 million from $33 million, while declining from $35.9 million in the prior-year period.
Lantronix backed its guidance of revenue between $175 million and $185 million and adjusted earnings in the range of 50 cents a share and 60 cents a share for fiscal 2024.
Write to Denny Jacob at [email protected]
Read the full article here
