This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Digi International Reports First Fiscal Quarter 2013 Results

Stocks in this article: DGII

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%.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs