Shares of IoT connectivity products, services and solutions provider, Digi International Inc. (DGII) are rising more than 15% Thursday morning after reporting first-quarter results.
Net loss in the first quarter was $0.01 per share compared to net income of $0.01 per share last year. On an adjusted basis, earnings were $0.32 per share, up from $0.15 per share reported last year.
Revenue for the quarter increased 17.4% year-over-year to $73.1 million.
"Our fiscal 2021 is off to a strong start, highlighting our model of recurring revenue, growth and profitability. We are excited to see our IoT Solutions business help ensure the safe distribution of leading vaccines. Digi's core value proposition of enabling secure, automated, and zero touch applications has never been more relevant, " said Ron Konezny, President and Chief Executive Officer.
DGII touched its 52-week high of $23.72 this morning and currently trading lower at $23.
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