Lantronix rallies after reporting 2Q revenue that beat analysts’ estimates

Lantronix Inc (NASDAQ:LTRX ) rose Thursday after reporting second-quarter revenue that beat the estimates of Wall Street analysts.

For the quarter ended December 31, the supplier of secure data access and management technology for the industrial internet of things reported net revenue of $12.1 million, an increase of 7% from a year earlier. The average estimate of analysts was for revenue of $11.85 million.

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The stock advanced 3.7% to $2.83 in after-hours trading.

The Irvine, California-based company posted non-GAAP net income of $790,000, or $0.03 per share, compared with $689,000, or $0.04 per share, a year earlier. That was an increase in earnings of 15%.

Cash and cash equivalents advanced to $19.4 million.

“I am pleased with our second-quarter results and that we met our revenue guidance for the first half,” Jeff Benck, the CEO of Lantronix, said in a statement.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors