 IRVINE, Calif., Aug. 06, 2020 GLOBE NEWSWIRE -- Lantronix, Inc. the Company Nasdaq: LTRX, a global provider of secure data access and management solutions for the industrial Internet of Things IoT, today announced it will release financial results for its fiscal 2020 fourth quarter ended June 30, 2020, on September 10, 2020, after the close of the market. Revised Business Outlook For the fourth quarter of fiscal 2020, Lantronix expects to report net revenues of 17.1 to 17.6 million, up 4 to 7 sequentially, and up 68 to 73 year over year. The company further expects that GAAP and non-GAAP earnings will grow sequentially from the third quarter of fiscal 2020 and reports that cash grew sequentially to 7.7 million. Due to difficulties in forecasting as a result of supply chain disruptions related to the COVID-19 pandemic, management had previously guided for sequential revenue and earnings growth for the fourth quarter of fiscal 2020, with no further specificity.We continue to work through supply chain disruptions and expect to deliver strong sequential and year over year revenue growth in our fourth fiscal quarter results, stated Paul Pickle, president and CEO of Lantronix. While COVID-19-related supply chain disruptions create some challenges in our ability to forecast in the near term, the surge in remote management demand and expanding engagements in work-from-home initiatives with multiple manufacturers leave us with an improving outlook for fiscal 2021.Management will host an investor conference call and audio webcast at 2:00 p.m. Pacific Time 5:00 p.m. Eastern Time on September 10, 2020. To access the live conference call, investors should dial 1-844-802-2442 US or 1-412-317-5135 international and indicate that they are participating in the Lantronix Q4 FY 2020 call. The webcast will be available simultaneously via the investor relations section of the Companys website at Investors can access a replay of the conference call starting at approximately 7:00 p.m. Pacific Time on September 10, 2020, at A telephonic replay will also be available through September 17, 2020, by dialing 1-877-344-7529 US or 1-412-317-0088 international or Canada Toll-Free 855-669-9658 and entering passcode 10146169.About Lantronix Lantronix, Inc. is a global provider of engineering services, hardware, and software solutions for Edge Computing, the Internet of Things IoT, and Out-of-Band Management OOBM. Lantronix enables its customers to provide reliable and secure IoT Intelligent Edge and OOBM solutions while accelerating time to market. Lantronixs products and services dramatically simplify the creation, development, deployment, and management of IoT projects while providing quality, reliability and security across hardware, software, and solutions.With three decades of proven experience in creating robust IoT technologies and OOBM solutions, Lantronix is an innovator in enabling its customers to build new business models, leverage greater efficiencies and realize the possibilities of the Internet of Things. Lantronixs solutions are deployed inside millions of machines at data centers, offices, and remote sites serving a wide range of industries, including energy, agriculture, medical, security, manufacturing, distribution, transportation, retail, financial, environmental and government.Lantronix is headquartered in Irvine, Calif. For more information, visit more at the Lantronix blog, featuring industry discussion and updates. To follow Lantronix on Twitter, please visit View our video library on YouTube at or connect with us on LinkedIn at of Non-GAAP Financial MeasuresLantronix believes that the presentation of non-GAAP financial information, when presented in conjunction with the corresponding GAAP measures, provides important supplemental information to management and investors regarding financial and business trends relating to the companys financial condition and results of operations. Management uses the aforementioned non-GAAP measures to monitor and evaluate ongoing operating results and trends to gain an understanding of our comparative operating performance. The non-GAAP financial measures disclosed by the company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations of the non-GAAP financial measures to the financial measures calculated in accordance with GAAP should be carefully evaluated. The non-GAAP financial measures used by the company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. The company has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.Non-GAAP net income loss consists of net income loss excluding i share-based compensation and the employer portion of withholding taxes on stock grants, ii depreciation and amortization, iii interest income expense, iv other income expense, v income tax provision benefit, vi severance and restructuring charges, vii acquisition related costs, viii impairment of long-lived assets, viii amortization of purchased intangibles, and x amortization of manufacturing profit in acquired inventory.Non-GAAP net income loss per share is calculated by dividing non-GAAP net income loss by non-GAAP weighted-average shares outstanding diluted. For purposes of calculating non-GAAP net income loss per share, the calculation of GAAP weighted-average shares outstanding diluted is adjusted to exclude share-based compensation, which for GAAP purposes is treated as proceeds assumed to be used to repurchase shares under the GAAP treasury stock method.Guidance on earnings per share growth is provided only on a non-GAAP basis due to the inherent difficulty of forecasting the timing or amount of certain items that have been excluded from the forward-looking non-GAAP measures, and a reconciliation to the comparable GAAP guidance has not been provided because certain factors that are materially significant to Lantronixs ability to estimate the excluded items are not accessible or estimable on a forward-looking basis without unreasonable effort.Forward-Looking StatementsThis news release contains forward-looking statements, including statements concerning our revenue and earnings guidance for the fourth quarter of fiscal 2020, the short- and long-term impact of COVID-19 on our business, and the expected benefits of our video conferencing and IoT management solutions to our business and financial results. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. We have based our forward-looking statements on our current expectations and projections about trends affecting our business and industry and other future events. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements are subject to substantial risks and uncertainties that could cause our results or experiences, or future business, financial condition, results of operations or performance, to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The guidance for our fourth quarter of fiscal 2020 included in this press release represent the most current information available to management. Our actual results when disclosed in our Form 10-K may differ from these preliminary results as a result of the completion of our financial closing procedures; final adjustments; completion of the review by our independent registered accounting firm; and other developments that may arise between now and the disclosure of the final results. 