Lantronix Provides Revenue Guidance for Fiscal 2020 Fourth Quarter, to Announce Full Results on September 10, 2020

IRVINE, Calif., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Lantronix, Inc. (the “Company”) (Nasdaq: LTRX), a global provider of secure data access and management solutions for the industrial Internet of Things (IoT), today announced it will release financial results for its fiscal 2020 fourth quarter ended June 30, 2020, on September 10, 2020, after the close of the market.

Revised Business Outlook
For the fourth quarter of fiscal 2020, Lantronix expects to report net revenues of $17.1 to $17.6 million, up 4% to 7% sequentially, and up 68% to 73% year over year. The company further expects that GAAP and non-GAAP earnings will grow sequentially from the third quarter of fiscal 2020 and reports that cash grew sequentially to $7.7 million. Due to difficulties in forecasting as a result of supply chain disruptions related to the COVID-19 pandemic, management had previously guided for sequential revenue and earnings growth for the fourth quarter of fiscal 2020, with no further specificity.

“We continue to work through supply chain disruptions and expect to deliver strong sequential and year over year revenue growth in our fourth fiscal quarter results,” stated Paul Pickle, president and CEO of Lantronix.  “While COVID-19-related supply chain disruptions create some challenges in our ability to forecast in the near term, the surge in remote management demand and expanding engagements in work-from-home initiatives with multiple manufacturers leave us with an improving outlook for fiscal 2021.”

Management will host an investor conference call and audio webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on September 10, 2020. 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 Q4 FY 2020 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 7:00 p.m. Pacific Time on September 10, 2020, at www.lantronix.com. A telephonic replay will also be available through September 17, 2020, by dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) or Canada Toll-Free 855-669-9658 and entering passcode 10146169.

About Lantronix 
Lantronix, Inc. is a global provider of engineering services, hardware, and software solutions for Edge Computing, the Internet of Things (IoT), and Out-of-Band Management (OOBM). Lantronix enables its customers to provide reliable and secure IoT Intelligent Edge and OOBM solutions while accelerating time to market. Lantronix’s products and services dramatically simplify the creation, development, deployment, and management of IoT projects while providing quality, reliability and security across hardware, software, and solutions.