Business Context and Reporting Period
Lantronix, Inc. filed this Form 8-K on May 16, 2003, to report results for its third fiscal quarter ended March 31, 2003. The company operates in the networking server solution sector.
Key Financial Metrics
- Revenue: $12.4 million for the quarter.
- Net Loss: $9.9 million, or $0.18 per share.
- Operating Expenses: $12.4 million.
- Selling, General and Administrative (SG&A) and R&D Expenses: $10.3 million.
- Cash Flow, Debt, and Liquidity: The filing text does not provide clear values for these metrics.
Material Changes Versus Prior Period
- Operating Expenses: Reduced by $3.1 million compared to the same period last year (from $15.5 million to $12.4 million).
- SG&A and R&D Expenses: Reduced by $1.0 million compared to the prior quarter (from $11.3 million to $10.3 million).
Outlook, Commentary, and Unusual Items
Management announced the commencement of production shipments for XPort, described as the world's first and smallest integrated web/networking server solution. The filing highlights significant cost-cutting measures as a primary operational focus.
Key Facts for Investor Verification
- Verify the sustainability of the $3.1 million year-over-year reduction in operating expenses.
- Assess the market reception and revenue potential of the newly shipped XPort product.
- Confirm the company's liquidity position given the reported net loss of $9.9 million, as cash flow data is absent from this filing.