Digi Int'l (DGII) Tops Q4 EPS by 23c, Revenues Beat

Digi Int'l (NASDAQ: DGII) reported Q4 EPS of $0.32, $0.23 better than the analyst estimate of $0.09. Revenue for the quarter came in at $73.2 million versus the consensus estimate of $72.04 million.

Fourth Fiscal Quarter 2020 Results

• Revenue increased to $73.2 million compared to $65.0 million, an increase of $8.2 million, or 12.6%.
• Net income increased to $4.4 million compared to $2.3 million, an increase of $2.1 million, or 93.9%.
• Net income per diluted share increased to $0.15 compared to $0.08 per diluted share, or 87.5%.
• Adjusted EPS increased to $0.32 per diluted share compared to $0.18 per diluted share, or 77.8%.
• Adjusted EBITDA increased to $12.1 million compared to $7.6 million, an increase of $4.5 million, or 58.3%.

“Digi delivered record revenue results for fiscal year 2020 amid the challenging macroeconomic backdrop, aided by the Opengear acquisition,” said Ron Konezny, President and Chief Executive Officer. “Our recent organizational change placing key leaders over each major product line will drive alignment, focus, and growth while sharpening our customer focus. In addition, we are excited to see our SmartSense IoT Solutions business return to growth with the capture of several enterprise customers, further building on our record annualized recurring revenue. Digi’s core value proposition enabling secure, automated, remote work has never been more relevant as our customers adapt during this pandemic era.”

Fiscal 2021 Guidance

Due to the ongoing uncertainties caused by the COVID-19 pandemic and the resulting dynamic macroeconomic conditions, Digi will not be providing financial guidance.

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

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