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.
