Digi International® Inc. (NASDAQ: DGII, www.digi.com) reported revenue of $47.0 million for the first fiscal quarter of 2013, compared with $46.7 million for the first fiscal quarter of 2012. Net income for the first fiscal quarter of 2013 was $1.2 million, or $0.05 per diluted share, compared to $0.7 million or $0.03 per diluted share in the prior year comparable quarter. First fiscal quarter 2013 results include the operations of Etherios, Inc. beginning November 1, 2012. Etherios contributed $1.4 million in revenue for the two months since the date of acquisition.
"I am satisfied with meeting our guidance expectations for the quarter and, in particular, I am pleased with the revenue contribution from Etherios," said Joe Dunsmore, President and Chief Executive Officer. "We believe that this acquisition adds significantly to our end-to-end value proposition in the M2M networking solutions space."
Business Results for the Three Months Ended December 31, 2012
Revenue from growth products in the first fiscal quarter of 2013, including $1.4 million of revenue from Etherios' consulting services, was $25.8 million, or 55.0% of net sales, compared to $23.8 million, or 51.0% of net sales, in the first fiscal quarter of 2012, an increase of $2.0 million, or 8.6 %. Revenue from mature products was $21.2 million, or 45.0% of net sales, in the first fiscal quarter of 2013 compared to $22.9 million, or 49.0% of net sales, in the first fiscal quarter of 2012, a decrease of $1.7 million, or 7.1%. Digi's growth products portfolio includes all wireless products, as well as the ARM-based embedded module product line, which leverages the iDigi platform with both wireline and wireless connectivity.Revenue in North America was $27.0 million in the first fiscal quarter of 2013, compared to $27.8 million in the first fiscal quarter of 2012, a decrease of $0.8 million, or 2.7%. Revenue in EMEA (Europe, Middle East and Africa) was $12.0 million in the first fiscal quarter of 2013 compared to $11.6 million in the comparable quarter a year ago, an increase of $0.4 million, or 3.5%. Revenue in the Asia Pacific region was $6.5 million in the first fiscal quarter of 2013 compared to $5.6 million in the first fiscal quarter of 2012, an increase of $0.9 million, or 15.4%. Latin American revenue was $1.5 million in the first fiscal quarter of 2013 compared to $1.7 million in the comparable quarter a year ago, a decrease of $0.2 million, or 10.8%.
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