Digi International's stock tumbled 5.52% in after-hours trading on Wednesday, following the company's fiscal first-quarter earnings report that missed revenue expectations and provided a weaker-than-anticipated sales outlook for the current quarter.
For the first quarter, Digi reported adjusted earnings per share of $0.50, meeting analyst estimates. However, the company's revenue of $103.87 million fell short of the consensus estimate of $104.08 million, representing a 2.1% year-over-year decline.
Looking ahead to the second quarter, Digi forecast revenue in the range of $102 million to $106 million, slightly below the consensus estimate of $105.32 million. The company also provided adjusted EBITDA guidance of $24 million to $25.5 million, though no analyst estimates were available for comparison.
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