digi international inc (DGII) Details
Digi International Inc. provides machine to machine (M2M) networking solutions that enable the connection, monitoring, and control of local or remote physical assets by electronic means. The company offers embedded networking products, such as processor modules and communications modules; integrated circuits; software and development tools for chips and modules; single board computers; and satellite communication devices. It also provides non-embedded networking products, including cellular products comprising routers, gateways, wireless communication adapters, serial servers, console servers, universal serial bus connected products, and serial cards. In addition, the company offers wireless product design and development services to provide wireless networking products. Further, it provides iDigi, a M2M cloud-based service; software application development and hosting services; and consultation and integration services. The company sells its products through a network of distributors, systems integrators, and value added resellers for a range of businesses and institutions, as well as to original equipment manufacturers primarily in North America, Europe, the Middle East, Africa, Asia, and Latin America. It has strategic relationships with Intel, Wind River, VMware, Silicon Laboratories, Freescale, Qualcomm, Ericsson, Itron, AT&T Inc., Sprint Nextel Corp., Verizon Communications Inc., Bell Mobility, Telus, Rogers, and other cellular carriers to develop technology solutions. Digi International Inc. was founded in 1985 and is headquartered in Minnetonka, Minnesota.
Last Reported Date: 11/21/12
Founded in 1985
digi international inc (DGII) Top Compensated Officers
Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $436.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $281.0K
Chief Technical Officer and Senior Vice Presi...
Total Annual Compensation: $268.0K
Vice President, General Counsel and Corporate...
Total Annual Compensation: $238.4K
Total Annual Compensation: $243.5K
Compensation as of Fiscal Year 2012.
Digi International Deploys 500 Sensor Nodes at Google I/O
May 15 13
Digi International will take part in deploying over 500 sensor nodes at Google's developer conference, Google I/O, May 15-17. The Data Sensing Lab project demonstrates how real-time machine-to-machine (M2M) data can provide insight into customer behaviors and preferences. Utilizing Digi's XBee ZigBee modules and ConnectPort wireless gateways to connect the nodes, sensor data is then collected and managed via Device Cloud by Etherios, Digi's platform for managing large populations of devices and connecting devices to applications. The sensor network's 4,000 data streams running over Device Cloud utilizes over 500 XBee modules connecting Arduino based sensors to provide continuous updates on temperature, pressure, light, air quality, motion and noise levels in San Francisco's Moscone Center during the conference. The Google Cloud Platform team will gather, transform, and analyze the information, then share heat maps and other data visualizations in collaboration with the Google Maps team.
Digi International Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended March 31, 2013; Provides Earnings Guidance for the Third Quarter and Fourth Quarter of 2013
Apr 25 13
Digi International Inc. reported consolidated unaudited earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company reported net sales of $48,197,000 compared with $49,016,000 for the same period last year. Operating income was $419,000 compared with $3,429,000 for the same period last year. Interest income was $50,000 compared with $74,000 for the same period last year. Income before income taxes was $870,000 compared with $3,496,000 for the same period last year. Net income was $1,000,000 or $0.04 diluted per share compared with $2,122,000 or $0.08 diluted per share for the same period last year. Reported net income in the second fiscal quarter of 2013 was unfavorably impacted by a legal settlement with U.S. Ethernet Innovations, LLC of $1.0 million, net of taxes, or $0.04 per diluted share. On Non GAAP operating income was $1,907,000 compared with $3,489,000 for the same period last year. Net income was $1,591,000 or $0.06 diluted per share compared with $2,161,000 or $0.08 diluted per share for the same period last year. Earnings before interest, taxes, depreciation and amortization in the second fiscal quarter of 2013 were $2.8 million, or 5.9% of revenue, compared to $5.5 million, or 11.1% of revenue in the second fiscal quarter of 2012.
For the six months, the company reported net sales of $95,188,000 compared with $95,678,000 for the same period last year. Operating income was $2,091,000 compared with $4,245,000 for the same period last year. Interest income was $102,000 compared with $146,000 for the same period last year. Income before income taxes was $2,718,000 compared with $4,531,000 for the same period last year. Net income was $2,230,000 or $0.08 diluted per share compared with $2,846,000 or $0.11 diluted per share for the same period last year. Net cash provided by operating activities was $3,350,000 compared with $6,108,000 for the same period last year. Purchase of property, equipment, improvements and certain other intangible assets was $2,080,000 compared with $2,650,000 for the same period last year. On Non GAAP operating income was $3,579,000 compared with $4,541,000 for the same period last year. Net income was $2,677,000 or $0.10 diluted per share compared with $2,827,000 or $0.11 diluted per share for the same period last year. Reported net income was unfavorably impacted for the first six months of fiscal 2013 as a result of the patent infringement settlement resulting from the enactment of legislation extending the research and development tax credit, allowing Digi to record tax credits earned during the last three quarters of fiscal 2012 in the second quarter of fiscal 2013 and the reversal of tax reserves for the expiration of the statute of limitations for various U.S. and foreign jurisdictions' tax matters.
For the third fiscal quarter of 2013, the company projects revenue in a range of $48 million to $50 million. Digi projects net income per diluted share in a range of $0.05 to $0.07.
For the fourth fiscal quarter of 2013, the company projects revenue in a range of $50 million to $54 million. Net income per diluted share is projected to be in a range of $0.06 to $0.11.
For the year, the company's effective tax rate to be in a range of 25% to 30%, including discrete tax benefits. Amortization expense, included a cost of goods sold, was $300,000 in the second fiscal quarter of 2013 compared to $500,000 in the same quarter a year ago. The company expects the gross margins will be in a range of 51.5% to 52% for the remainder of fiscal 2013.