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Lantronix fiscal Q2 loss widens YOY

Lantronix Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss grew year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $397,500, compared with a loss of $378,750 in the prior-year period.

The normalized profit margin declined to negative 4.2% from negative 3.5% in the year-earlier period.

Total revenue decreased 11.1% on an annual basis to $9.5 million from $10.7 million, and total operating expenses fell 10.1% year over year to $10.2 million from $11.3 million.

Reported net income came to a loss of $928,000, or a loss of 6 cents per share, compared to a loss of $632,000, or a loss of 4 cents per share, in the prior-year period.