Computer networking components maker Lantronix Inc. in Irvine reported quarterly earnings that missed analysts’ estimates. The shares fell in after-hours trading.
Revenue for the third fiscal quarter was $30.2 million, slightly below the average of $30.5 million of four analysts cited by Yahoo. Earnings per share were 3 cents, which was below analysts’ estimates of 4 cents apiece.
“Our third-quarter results reflect our disciplined execution and continued momentum across the business as we reported year-over-year revenue and earnings growth,” said Saleel Awsare, president and CEO of Lantronix. “Our position as a critical onboard edge compute platform for unmanned systems continues to expand, reflected by the 22 percent growth we delivered in our Embedded IoT Solutions portfolio.”
Shares in Lantronix were down 2.6% at $6.59 at 5.41 p.m. in New York, following an intra-day market cap of $269 million.
