Why Lantronix Stock Is Plummeting Today
Shares of Lantronix (NASDAQ: LTRX), a software-as-a-service (SaaS) company, were sliding today after the company reported worse-than-expected fiscal fourth-quarter earnings for the period ended June 30 and issued earnings guidance that was lower than Wall Street's consensus estimate.
The SaaS stock was down by 19.2% as of 11:29 a.m. ET.
Lantronix's sales spiked 79% from the year-ago quarter, to $35.9 million. That sales growth was enough to beat analysts' consensus estimate of $34 million in sales for the quarter.
Source Fool.com
