IRVINE, Calif., October 28, 2021 (GLOBE NEWSWIRE) – Lantronix Inc. (the âCompanyâ) (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Internet of Things (IoT) and management of Remote Environment (REM) offering software as a service (SaaS), connectivity services, engineering services and intelligent hardware, today announced preliminary revenue results for its first fiscal quarter of 2022 closed on September 30, 2021, and will publish full results on November 11, 2021, after market close.
For the first quarter of fiscal 2022 ended September 30, 2021, Lantronix currently expects to report record revenues in excess of $ 27 million, thanks to a record backlog, robust demand and concerted mitigation of channel disruptions. supply.
Management will host an investor conference call and audio webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on November 11, 2021. 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 Q1 FY 2022 call. The webcast will be available simultaneously through the Investor Relations section of the website of the Company at www.lantronix.com.
Investors can access a replay of the conference call starting at approximately 7:00 p.m. PT on November 11, 2021, at www.lantronix.com. A telephone replay will also be available until November 18, 2021, by dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) or toll-free in Canada 855-669-9658 and entering the access code 10161701.
Lantronix, Inc. is a global provider of engineering services, hardware and software solutions for edge computing, Internet of Things (IoT) and out of band management (OOBM). Lantronix enables its customers to deliver reliable and secure IoT Intelligent Edge and OOBM solutions while accelerating time to market. Lantronix products and services dramatically simplify the creation, development, deployment and management of IoT projects while providing quality, reliability and security for hardware, software and solutions.
With three decades of proven experience in creating robust IoT technologies and OOBM solutions, Lantronix innovates by enabling its customers to create new business models, leverage greater efficiency and realize the possibilities of business. Internet of things. Lantronix solutions are deployed in millions of machines in data centers, offices and remote sites serving a wide range of industries including energy, agriculture, medical, security, manufacturing, distribution , transportation, retail, finance, environment and government.
Lantronix is ââheadquartered in Irvine, California. For more information, visit www.lantronix.com.
Learn more on the Lantronix blog, www.lantronix.com/blog, which features discussions and industry updates. To follow Lantronix on Twitter, please visit www.twitter.com/Lantronix. View our video library on YouTube at www.youtube.com/user/LantronixInc or connect with us on LinkedIn at www.linkedin.com/company/lantronix.
Estimated preliminary results
The preliminary estimated results announced by Lantronix for its first fiscal quarter ended September 30, 2021 are preliminary and are subject to change. Lantronix has not completed its normal quarterly closing procedures for the quarter ended September 30, 2021 and there can be no assurance that the final results for the quarter will not differ from the preliminary estimated results included herein. In addition, these preliminary estimated results should not be considered a substitute for the complete interim financial statements prepared in accordance with GAAP which have been reviewed by Lantronix’s auditors.
This press release contains forward-looking statements, including statements regarding our earnings and earnings expectations for the first quarter of fiscal 2022. These forward-looking statements are intended to benefit the safe harbor of liability established by the Private Securities Litigation Reform Act of 1995. We have based our forward-looking statements on our current expectations and projections regarding trends affecting our business and industry and other future events. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements are subject to substantial risks and uncertainties which could cause our results or experiences, or our future activities, financial condition, results of operations or performance, to differ materially from our historical results or those expressed. or implied in any forward-looking statement. contained in this press release. Other factors which could have a material adverse effect on our business and future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: the impact of the pandemic of COVID-19, including the emergence of new contagious and / or vaccine resistant viral strains and the impact of vaccination efforts, including the effectiveness and public acceptance of vaccinations, on our business, our employees, our supply and distribution chains and the global economy; the effects of adverse or worsening regional and global economic conditions or market instability on our business, including the effects on our customers’ purchasing decisions; our ability to successfully convert our backlog and current demand; our ability to continue to mitigate disruptions in our supply chains and those of our suppliers and vendors; our ability to continue to generate income from products sold in mature markets; our ability to develop, market and sell new products; our ability to succeed with our new software offerings; fluctuations in our revenues due to the timing of orders from certain clients depending on the projects; the unpredictable timing of our revenues due to the long sales cycle of our products and services and potential delays in the completion of projects by clients; our ability to accurately forecast future demand for our products; delays in qualifying revisions of existing products; constraints or delays in the supply or quality control issues of certain materials or components; difficulties related to the delivery, quality or cost of our products to our subcontractors or suppliers; risks associated with outsourcing manufacturing and international operations; difficulties related to our distributors or resellers; intense competition in our industry and the resulting downward pressure on prices; increasing inventory levels and obsolescence of inventory; undetected software or hardware errors or defects in our products; cybersecurity risks; our ability to obtain appropriate industry certifications or approvals from government regulatory bodies; changes in applicable US and foreign government laws, regulations and tariffs; our ability to successfully implement our acquisition strategy or to integrate acquired companies; uncertainty as to the future profitability of the acquired businesses, and delays in the realization or non-realization of any accumulation resulting from the acquisition transactions; the acquisition, management and integration of new operations, businesses or assets, and the associated distraction of management’s attention or other related costs or difficulties; our ability to protect patents and other property rights and to avoid infringement of the intellectual property rights of others; the level of our indebtedness, our ability to service our debt and the restrictions in our debt agreements; our ability to attract and retain qualified executives; and any additional factors included in our report on Form 10-K for the fiscal year ended June 30, 2021, filed with the Securities and Exchange Commission (the âSECâ) on August 27, 2021, including in the section titled âFactors Risk âin Item 1A of Part I of this report and in our other public filings with the SEC. In addition, actual results may differ due to additional risks and uncertainties that we are not currently aware of or do not currently consider to be material to our business. For these reasons, investors are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intention or obligation to update any forward-looking statements after the date hereof to conform them to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of Nasdaq Stock Market LLC. . If we update or correct any forward-looking statements, investors should not conclude that we will make any additional updates or corrections.
Lantronix media contact:
Gail Catherine Miller
Corporate Marketing and
Lantronix analyst and investor contact:
Americas +1 (800) 422-7055 (United States and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0) 76 52 36 744
Asia-Pacific + 852 3955-0218
China + 86 21-6237-8868
Japan +81 (0) 50-1354-6201
India +91 994-551-2488
Â© 2020 Lantronix, Inc. All rights reserved. Lantronix is ââa registered trademark and SLB and SLC are trademarks of Lantronix Inc. Other trademarks and trade names are the property of their respective owners.