Thursday, Lantronix Inc. (LTRX), reported a net loss for the fourth quarter, that widened from the same period last year, adversely impacted by higher operating expenses during the period.
The Irvine, California-based technology company posted a net loss of $1.37 million or $0.02 per share in the fourth quarter, wider than a loss of $89 thousands or breakeven per share in the same period last year.
On a non-GAAP basis, Lantronix recorded a net loss of $70 thousands, compared to a profit of $363 thousands in the previous year.
Net revenues during the period totaled $14.71 million, in line with last year's revenue of $14.71 million.
On a segmental basis, the company's device networking revenues rose 9% to $14.1 million from $12.9 million last year.
Operating expenses for the quarter increased to $8.79 million from $7.57 million in the prior-year quarter. These results also include a charge of $757 thousands, related to the company's restructuring charges.
Gross profit margin dropped marginally to 50.5% from 50.8% in the fourth quarter of 2007.
For the full year, Lantronix recorded a wider net loss of $2.51 million or $0.04 per share, compared to a loss of $1.72 million or $0.03 per share last year.
Revenues during the period totaled $57.59 million, higher than $55.31 million in the year-ago period.
Cash and cash equivalents as of June 30, 2008 was $7.4 million, a decrease of $148 thousands from last year.
LTRX ended Thursday trade at $0.46, up 2.20% or $0.01, on a volume of 16,993 shares on the Nasdaq.
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