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Lantronix Announces its Largest-Ever Contract

Says $40M deal bigger than expected

Computer networking products maker Lantronix Inc. in Irvine said it has received and executed a $40 million contract to deliver high-tech “quantum edge units” to its customer Gridspertise.

“The largest in Lantronix history, the order value is greater than initially anticipated due to a customer-requested change in the design of the solution, resulting in increased dollar content for Lantronix,” the company said in a statement yesterday.

Lantronix (Nasdaq: LTRX) CEO Paul Pickle said in the statement that the contract “delivers substantial visibility into our double-digit growth expectations for the upcoming fiscal year.”

Shares in Lantronix rose 4.8% to $4.61 apiece for a market cap of $167 million.

For further details, see the Feb. 6 print edition of the Business Journal.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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