Digi International slumps 18% after missing Wall Street’s Q2 expecations
Digi International Inc. (Nasdaq:DGII) shares are slumping more than 19% after the Minnetonka, Minn.-based company reported early Tuesday that its second-quarter revenue totaled $43.1 million, which fell short of Wall Street’s expectation of $51.1 million. During the year-ago period, Digi clocked $42.9 million. Quarterly net income declined to $3.1 million, or $0.12 per share, versus $3.6 million, or $0.14 per share, a year ago. Wall Street analysts anticipated earnings of $0.19 per share.
In Tuesday morning trading, DGII shares are up 18.05%, or $1.85, at $8.38. For detailed price information and recent news stories about Digi International, click DGII.
