Digi International: Fiscal 4Q Earnings Snapshot

HOPKINS, Minn. (AP) _ Digi International Inc. (DGII) on Thursday reported fiscal fourth-quarter net income of $2.3 million.

On a per-share basis, the Hopkins, Minnesota-based company said it had net income of 8 cents. Earnings, adjusted for one-time gains and costs, came to 18 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The provider of communication adapters posted revenue of $65 million in the period.

For the year, the company reported profit of $10 million, or 35 cents per share. Revenue was reported as $254.2 million.

For the current quarter ending in January, Digi International expects its per-share earnings to range from 10 cents to 14 cents.

The company said it expects revenue in the range of $58 million to $62 million for the fiscal first quarter.

Digi International expects full-year earnings in the range of $1.14 to $1.27 per share, with revenue ranging from $310 million to $325 million.

Digi International shares have increased 50% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.10, a rise of 35% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DGII at https://www.zacks.com/ap/DGII