IRVINE, Calif., Aug. 30, 2007 (PRIME NEWSWIRE) -- Lantronix, Inc. (Nasdaq:LTRX), a leader in device networking and data center management technologies, today announced the appointments of Bernhard Bruscha, founder and former Chairman of Lantronix, and Curt Brown, former Executive Vice President of Research and Development of the Company, to its Board of Directors, effective immediately. With Bruscha and Brown's election, the Lantronix Board currently has six members.
Mr. Bruscha served as Chairman of Lantronix from the company's founding until May 2002 and has been its single largest shareholder, currently with ownership of over approximately 30% of the company's outstanding common stock. A serial entrepreneur for over 20 years, Mr. Bruscha founded several technology distribution and hardware companies and currently serves as Chairman of transtec AG, a computer systems manufacturer and direct computer reseller. A Lantronix customer, transtec AG has accounted for less than 4% of the company's revenues in each of the past eight quarters.
Mr. Brown was previously Executive Vice President of Research and Development at Lantronix from June 2001 to August 2004, and holds a number of patents, including two Lantronix patents pertaining to XPort(r) embedded device servers. He has had a distinguished 30-year career of increasing responsibility in the electronics industry, working for such companies as Iomega Corporation, Hewlett Packard Company, Connor Peripherals, Inc., Seagate Technology and Quantum Corporation.
President and Chief Executive Officer Marc Nussbaum stated, "I am pleased to welcome Bernhard and Curt back to Lantronix. Their 50 years of cumulative industry expertise and knowledge of our company and products will be a great asset as we continue to drive market adoption of M2M."
About Lantronix
Lantronix, Inc. (Nasdaq:LTRX) is a leading innovator in device networking technology. The company specializes in wired and wireless hardware and software solutions which allow virtually any electronic product to be networked-enabled in order to remotely access, monitor and control it over a network or the Internet. The Lantronix Device Network Architecture (DNA) includes Device Enablement solutions which provide a direct network connection to equipment and machines for remote monitoring and control, and Management and Control solutions which extend the ability to remotely manage IT equipment and literally thousands of networked devices, regardless of location, from a central point of access. Lantronix provides customizable technologies and solutions that are used by original equipment manufacturer (OEMs) design engineers to network-enable their products, IT administrators to manage data center and network infrastructure, and systems integrators to provide a complete, remote device management solutions for their customers. With nearly two decades of networking expertise and more than 30,000 customers worldwide, Lantronix solutions are used in every major vertical market including security, industrial and building automation, medical, transportation, retail/POS, financial, government, consumer electronics/appliances, IT/data center, and pro-AV/signage. The company's headquarters are located in Irvine, Calif. For more information, visit www.lantronix.com.
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This news release contains forward-looking statements, including statements concerning our issuance of a warrant in connection with the settlement of class action litigation, the potential growth of the M2M market, our ability to penetrate that market through new products and increase our revenues from the M2M market, the overall revenue of Lantronix in future periods, future cash balances and potential future profitability. These forward-looking statements are based on current management expectations and are subject to risks and uncertainties that could cause actual reported results and outcomes to differ materially from those expressed in the forward-looking statements, including but not limited to: final accounting adjustments and results; quarterly fluctuations in operating results; its ability to identify and profitably develop new products that will be attractive to its target markets, including the M2M market and the timing and success of new product introductions; changing market conditions and competitive landscape; government and industry standards; market acceptance of the Company's products, by its customers; pricing trends; actions by competitors; future revenues and margins; changes in the cost or availability of critical components; unusual or unexpected expenses; and cash usage including cash used for product development or strategic transactions; and other factors that may affect financial performance. For a more detailed discussion of these and other risks and uncertainties, see the Company's recent SEC filings, including its Form 10-K for the fiscal year ended June 30, 2006, and its subsequent reports on Form 10-Q and Form 8-K. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
Lantronix and XPort are registered trademarks of Lantronix, Inc. All other trademarks are properties of their respective owners.