Digi International Reports 1Q Quarter 2015 Results
In a release on
"I am excited to lead
As previously announced, we experienced a fire at our subcontract manufacturing facility in
"Our team did a fantastic job responding to the disruption in our business resulting from the fire in November at one of our subcontract manufacturer's locations," continued Konezny. "We worked hard to ensure minimal impact to our customers' businesses, which in many cases is mission critical. Strong communications and personal attention by the entire team was rewarded with revenues at expected levels. I am optimistic about the momentum in the business and the opportunity to improve operating profitability during the remainder of fiscal 2015."
Total revenue grew 3.0 percent to
-Product revenue increased by
-Service revenue decreased by
Gross profit was
-Hardware product gross margin was 48.6 percent in the first fiscal quarter of 2015 compared to 51.7 percent in the same quarter in the prior year. Gross margin was negatively impacted by product mix, as well as incremental expenses associated with the impact of the
-Service gross margin for the first fiscal quarter of 2015 was 2.7 percent compared to 22.2 percent in the same quarter in the prior year, resulting from underutilization of consulting labor.
Operating loss for the first fiscal quarter of 2015 was
Certain sales and engineering expenses were higher in the first fiscal quarter of 2015 than in the prior year. Additionally, we recorded, as general and administrative expense, approximately
Net loss was
-Net loss in the first fiscal quarter of 2015 included a discrete tax benefit of
-Net income in the first fiscal quarter of 2014 included a discrete tax benefit of
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) in the first fiscal quarter of 2015 was
Balance Sheet, Liquidity and Capital Structure
We continue to maintain a strong balance sheet, highlighted by:
-Our cash and cash equivalents and marketable securities balance, including long-term marketable securities, was
-We had no debt on the balance sheet as of
-At
Share Repurchase Program
On
Guidance
For the second fiscal quarter of 2015, we project revenue in a range of
We will be exiting our operations in
Our annual guidance remains unchanged with a revenue range of
More Information:
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