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. 

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Source Fool.com