Digi Int'l (DGII) Misses Q1 EPS by 4c, Slight Miss on Revenues

Digi Int'l (NASDAQ: DGII) reported Q1 EPS of ($0.07), $0.04 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $45.2 million versus the consensus estimate of $45.58 million.

GAAP net loss for the first fiscal quarter of 2018 was $4.6 million, or $0.17 loss per diluted share, compared to our GAAP guidance range of $0.06 to $0.02 loss per diluted share and to GAAP net income for the first fiscal quarter of 2017 of $2.4 million, or $0.09 per diluted share. Our non-GAAP net loss for the first fiscal quarter of 2018 was $1.8 million, or $0.07 loss per diluted share, compared to our non-GAAP net income of $2.3 million, or $0.08 per diluted share for the first fiscal quarter of 2017. Our prior GAAP net loss guidance did not include several non-cash items which resulted in $4.1 million, or $0.15 per diluted share, of expense during the first fiscal quarter of 2018, including:

• Amortization expense of $1.0 million, or $0.04 per diluted share, related to our recent acquisition of TempAlert, LLC ("TempAlert")
• Three non-cash adjustments included in our income tax provision related to the Tax Cuts and Jobs Act of 2017 and Accounting Standards Update 2016-09 ("ASU 2016-09\"), which in aggregate totaled $3.1 million, or $0.12 per diluted share

For earnings history and earnings-related data on Digi Int'l (DGII) click here.

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