Computer networking products maker Lantronix Inc. today reported quarterly earnings that topped analysts’ estimates, sending the shares up 6.4% in after-hours trading.
Fiscal first-quarter revenue was $29.8 million, slightly ahead of the $29.55 million foreseen by stock analysts. EPS was 4 cents, one cent ahead of estimates.
“Our results reflect margin expansion, disciplined cost management and growing contributions from our high-growth platforms. In drones, we secured new design wins and expanded OEM engagements, which are supported by record defense funding and regulatory momentum that drive long-term opportunities in the UAS market,” Saleel Awsare, president and CEO of Lantronix (Nasdaq: LTRX), said in a statement accompanying the earnings release.
The company’s shares were trading at $4.95 apiece after hours with an intraday market cap of $183 million.
