Lantronix Completes Acquisition of Electronics and Software Reportable Business Segment from Communications Systems, Inc.

IRVINE, Calif., Aug. 02, 2021 (GLOBE NEWSWIRE) — Lantronix, Inc. (“Lantronix”) (NASDAQ: LTRX), a global provider of Software as a Service (Saas), connectivity services, engineering services, intelligent hardware and turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), today announced that it has completed its previously announced acquisition of Transition Networks and Net2Edge, which comprises the majority of the Electronics and Software reportable business segment of Communications Systems, Inc. (NASDAQ: JCS) (“CSI”).

The transaction will bring immediate scale to Lantronix, with revenues from the combined company expected to total more than $100 million on an annual basis. The acquisition will bring complementary IoT connectivity products and capabilities, including switching, Power over Ethernet (PoE) and media conversion and adapter products.

Lantronix sees significant operating and product development synergies in the combined company and expects significant day one synergies will drive immediate non-GAAP earnings accretion upon closing, and the company further expects to realize $7 million in annual run rate synergies over the course of the first 24 months. Lantronix will release guidance for its fiscal year 2022 on its fourth quarter fiscal year 2021 earnings conference call, with that date to be named shortly.

Silicon Valley Bank, the bank of the world’s most innovative companies and their investors, along with SVB Capital, provided acquisition financing.

O’Melveny & Myers LLP served as legal advisor to Lantronix.

About Lantronix
Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware. Lantronix enables its customers to provide reliable and secure IoT Intelligent Edge and OOBM solutions while accelerating time to market. Lantronix’s products and services dramatically simplify the creation, development, deployment and management of IoT projects while providing quality, reliability and security across hardware, software and solutions.

With three decades of proven experience in creating robust IoT technologies and OOBM solutions, Lantronix is an innovator in enabling its customers to build new business models, leverage greater efficiencies and realize the possibilities of the Internet of Things. Lantronix’s solutions are deployed inside millions of machines at data centers, offices and remote sites serving a wide range of industries, including energy, agriculture, medical, security, manufacturing, distribution, transportation, retail, financial, environmental and government.

Lantronix is headquartered in Irvine, Calif. For more information, visit www.lantronix.com.

Learn more at the Lantronix blog, www.lantronix.com/blog, featuring industry discussion and updates. To follow Lantronix on Twitter, please visit www.twitter.com/Lantronix. View our video library on YouTube at www.youtube.com/user/LantronixInc or connect with us on LinkedIn at www.linkedin.com/company/lantronix.

Discussion of Non-GAAP Financial Measures

Lantronix believes that the presentation of non-GAAP financial information, when presented in conjunction with the corresponding GAAP measures, provides important supplemental information to management and investors regarding financial and business trends relating to the company’s financial condition and results of operations. Management uses the aforementioned non-GAAP measures to monitor and evaluate ongoing operating results and trends to gain an understanding of our comparative operating performance. The non-GAAP financial measures disclosed by the company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations of the non-GAAP financial measures to the financial measures calculated in accordance with GAAP should be carefully evaluated. The non-GAAP financial measures used by the company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

Guidance on earnings per share growth is provided only on a non-GAAP basis due to the inherent difficulty of forecasting the timing or amount of certain items that have been excluded from the forward-looking non-GAAP measures, and a reconciliation to the comparable GAAP guidance has not been provided because certain factors that are materially significant to Lantronix’s ability to estimate the excluded items are not accessible or estimable on a forward-looking basis without unreasonable effort.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as “expects,” “believes,” “intends,” “anticipates,” “plans,” “estimates,” “potential,” “possible,” or “probable” or statements that certain actions, events or results “may,” “will,” “should,” or “could” be taken, occur or be achieved. The forward-looking statements in this press release include, among others, statements about the expected benefits of the acquisition of Transition Networks and Net2Edge (the “Transaction”), including expected synergies in the combined company, to Lantronix and its stockholders, the accretive nature of the proposed Transaction and expected future operating results of the combined company. Forward-looking statements are based on current expectations and assumptions and analyses made by Lantronix and its management in light of experience and perception of historical trends, current conditions, and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: Lantronix’s ability to integrate the acquired businesses successfully after the Transaction and achieve anticipated benefits from it; risks relating to any unforeseen liabilities of the acquired businesses; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; any loss of management or key personnel; the impact of the COVID-19 pandemic, including the emergence of new more contagious and/or vaccine-resistant strains of the virus and the impact of vaccination efforts, including the efficacy and public acceptance of vaccinations, on the combined companies’ business, employees, supply and distribution chains and the global economy; and any additional factors included in Lantronix’s Report on Form 10-K for the fiscal year ended June 30, 2020, filed with the Securities and Exchange Commission (the “SEC”) on September 11, 2020, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, filed with the SEC on April 30, 2021, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; and in the Company’s other public filings with the SEC. In addition, actual results may differ as a result of additional risks and uncertainties of which Lantronix management is currently unaware or does not currently view as material to the Company’s business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements Lantronix makes speak only as of the date on which they are made. Lantronix undertakes no obligation to revise or update publicly any forward-looking statements except as required by law or the rules of the Nasdaq Stock Market, LLC.

Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-453-7158

Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241

Lantronix Sales:
sales@lantronix.com
Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0)76 52 36 744
Asia Pacific + 852 3428-2338
China + 86 21-6237-8868
Japan +81 (0) 50-1354-6201
India +91 994-551-2488

© 2021 Lantronix, Inc. All rights reserved.

Zoom Video Communications to Release Financial Results for the Second Quarter of Fiscal Year 2022

SAN JOSE, Calif., Aug. 02, 2021 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM), a leading provider of frictionless enterprise communications, today announced it will release its financial results for the second quarter of fiscal year 2022 on Monday, August 30, 2021, after the market closes.

A live Zoom Video Webinar of the event can be accessed at 2:00 pm PT / 5:00 pm ET through Zoom’s investor relations website at https://investors.zoom.us. A replay will be available approximately two hours after the conclusion of the live event.

About Zoom
Zoom is for you. We help you express ideas, connect to others, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for large enterprises, small businesses, and individuals alike. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Visit zoom.com and follow @zoom.

Public Relations
Colleen Rodriguez
Global PR Lead for Zoom
press@zoom.us

Investor Relations
Tom McCallum
Head of Investor Relations for Zoom
408.675.6738
investors@zoom.us

Vision Impact Institute Applauds UN Resolution on Vision

Resolution highlights impact of good vision to achieving the Sustainable Development Goals

DALLAS, Aug. 2, 2021 /PRNewswire/ — The Vision Impact Institute applauds the UN General Assembly’s adoption of the Vision for Everyone: accelerating action to achieve the Sustainable Development Goals resolution. A major step forward for vision correction, this resolution commits the international community to improving vision for 1.1 billion people living with preventable vision loss by 2030.

Vision Impact Institute logo

This topic is timely as societies cope with the fallout of the COVID-19 pandemic in terms of:

  • Children’s Education – The connection between vision and learning is crucial, as eighty percent of learning is visual. Yet, with increased digital learning, children are experiencing vision changes such as myopia and eye strain from more screen time and less time outdoors.
  • Road Safety – With up to 90% of the information needed for safety on the road coming through the eyes, good vision is a critical factor for safer mobility. This becomes more important as workers return to office buildings and businesses.
  • Gender Equity – Research suggests that 55% of people with vision loss are women and girls. Women can also face stigmas when it comes to wearing glasses. This burden, compounded with the burden that the COVID-19 pandemic has disproportionately placed on women, highlights the need for their good vision care.

“This resolution is a much-needed step to ensure that good vision is accessible to all,” says Kristan Gross, Global Executive Director, Vision Impact Institute. “As vision advocates, we have worked for years in partnership with others to ensure that vision is pivotal in the global development conversation. This unanimous decision is a testimony to the power of partnerships and coalitions that believe good vision is key to unlocking human potential.”

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About the Vision Impact Institute (VII)
The VII’s mission is to raise awareness of the importance of vision correction and protection to make good vision a global priority. Its Advisory Board is comprised of four independent international experts: Pr. Clare Gilbert (United Kingdom), Mr. Allyala Nandakumar (United States),   Dr. Serge Resnikoff (Switzerland), and Dr. Wang Wei (China).

The Vision Impact Institute is a registered 501(c)(3) non-profit organization, which receives support from the Vision for Life Fund from Essilor, the world leader in ophthalmic optics. The Vision Impact Institute hosts a unique database of research at  visionimpactinstitute.org .

Contact:
Andrea Kirsten-Coleman
Global Communications Manager
andrea.kirsten@visionimpactinstitute.org

Logo – https://mma.prnewswire.com/media/832635/Vision_Impact_Institute_Logo.jpg

Study Suggests Earth’s Slowing Rotation Led to More Oxygen in Atmosphere

 

A new study suggests Earth’s supply of oxygen developed thanks to the planet’s gradually slowing rotation creating longer days that allowed a certain form of algae to admit more oxygen as a byproduct of its metabolic process.

The study, published Monday in the scientific journal Nature Geoscience, suggests that about 2.4 billion years ago there was so little oxygen in Earth’s atmosphere, it could barely be measured, so no animal or plant life as we know it could exist.

Much of the life on Earth consisted of tiny microbes, among them, a blue-green form of algae called cyanobacteria, which breathed in carbon dioxide and exhaled oxygen in the earliest form of photosynthesis.

The researchers say about 400 million years ago, the Earth took a relatively enormous leap in the amount of oxygen in its atmosphere, growing from nearly imperceptible levels to one-tenth the amount of oxygen it has now.

The researchers suggest the Earth’s rotation, which has been gradually slowing over time, lengthened days from about six hours to about the current 24 hours. The longer days provided more sunlight for the cyanobacteria to produce enough oxygen to give the planet breathable air.

The scientists reached their conclusion by studying microbes found growing in a sinkhole under 80 feet of water in Lake Huron, off the coast of the U.S. state of Michigan. The bacteria exist in an oxygen-poor environment similar to the single-celled cyanobacteria that formed matlike colonies billions of years ago, which carpeted both land and seafloor surfaces.

 

The researchers dredged up the bacteria from the sinkhole and tinkered with how much light it got in lab experiments. The more continuous light the microbes got, the more oxygen they produced.

That finding, in turn, points to a previously unconsidered link between Earth’s oxygenation history and its rotation rate.

The scientists say their models show that this proposed mechanism might help explain the pattern of Earth’s oxygenation, as well as the persistence of low-oxygen periods through most of the planet’s history.

 

 

 

Source: Voice of America

Britain Opens Borders to Fully Vaccinated Travelers From US, Most of EU

Britain has opened its borders to fully vaccinated travelers from the United States and much of Europe, as the government continues to ease coronavirus travel restrictions.

Monday was the first day that travelers arriving in Britain from the United States and most parts of the European Union could do so without going into quarantine.

New arrivals must still be tested for the coronavirus before boarding a flight to Britain and within two days of arrival.

Britain is maintaining quarantine requirements for French travelers, saying the country has a concerning number of cases of the beta variant in some areas. The beta variant was first detected in South Africa.

Britain has one of the highest vaccination rates for its population with nearly 90% of adults having at least one shot.

 

The country will begin offering a booster dose of a COVID-19 vaccine to 32 million Britons starting in early September, The Telegraph reported Sunday. The shots will be available in as many as 2,000 pharmacies with the goal of getting them into arms by early December.

The government has been preparing since at least June, when the Joint Committee on Vaccination and Immunization (JCVI) called for a plan to offer the third shot to people 70 years old or older, home care residents and those who are vulnerable for health reasons.

US rules

In the U.S., more jurisdictions are requiring employees to get vaccinated or submit to regular testing as the country grapples with a rise of infections blamed on the delta variant.

Denver, Colorado, Mayor Michael Hancock announced Monday the city will mandate all city employees and private sector workers in high-risk settings to be vaccinated against the virus by the end of September.

New Jersey Governor Phil Murphy said state health care workers, along with workers in corrections facilities or assisted living centers, must be vaccinated or face testing twice a week.

 

In New York State, Governor Andrew Cuomo urged businesses to turn away unvaccinated customers. He said it is in businesses’ best interests because many customers want to know that the customer next to them is vaccinated.

The U.S. Centers for Disease Control and Prevention said Monday that 70% of U.S. adults have received at least one shot of a coronavirus vaccine. President Joe Biden had originally aimed to pass that milestone by July 4.

In Myanmar 

A group of 16 humanitarian aid organizations has issued a joint statement warning about the “spiraling humanitarian catastrophe in Myanmar triggered by skyrocketing COVID-19 cases and widespread violence.”

“Over 60 percent of reported deaths from COVID-19 in Myanmar have occurred in the past month alone, with the number of confirmed cases doubling in the last two months,” according to the statement issued Monday.

“Health care facilities from Kachin to Mandalay to Yangon remain shuttered as health care workers face violence and threats,” the statement said. “More than 400 doctors and 180 nurses have been given arrest warrants since the military takeover in February 2021.”

“The communities we work with are desperate and dying. … The population needs safe and fair access to humanitarian aid and health care now,” Laura Marshall, country director for the Norwegian Refugee Council in Myanmar, said in the statement.

Around the globe

In Australia, officials extended a lockdown in Brisbane, the country’s third-largest city until Sunday because of a growing COVID-19 outbreak. Sydney, the biggest city in the country, is beginning its sixth week of lockdown.

Olympics organizers in Tokyo reported 17 new coronavirus cases tied to the Games, including one athlete. That brings the total number since the beginning of July to 276.

 

Germany said Monday that beginning in September, it will start to offer a booster shot against COVID-19 to vulnerable individuals, including the elderly and those with weak immune systems.

In Berlin, thousands marched Sunday to protest pandemic restrictions, and about 600 protesters were detained after clashes with police, The Associated Press reported.

While Germany eased many of its restrictions in May, large gatherings remain banned.

More than 200,000 people turned out Saturday in France to protest vaccination requirements.

There are 198.7 million cases of COVID-19 as of Monday and 4.2 million deaths globally, according to the Johns Hopkins Coronavirus Resource Center.

 

 

Source: Voice of America

Britain to Offer COVID-19 Booster Shots This Fall

 

Britain will begin offering a booster dose of a COVID-19 vaccine to 32 million Britons starting in early September, The Telegraph reported Sunday. The shots will be available in as many as 2,000 pharmacies with the goal of getting them into arms by early December.

The government has been preparing since at least June, when the Joint Committee on Vaccination and Immunization (JCVI) called for a plan to offer the third shot to people 70 years old or older, care home residents and those who are vulnerable for health reasons.

At least 90% of British adults have received at least one shot, but that rate falls to 60% for those 18-30 years old, government figures show.

To encourage younger adults to get vaccinated before colder weather prompts people to spend more time indoors, the Department of Health and Social Care said that restaurants, food delivery services and ride-hailing apps are offering discounts to persuade people to be vaccinated.

“The lifesaving vaccines not only protect you, your loved ones and your community, but they are helping to bring us back together by allowing you to get back to doing the things you’ve missed,” Health Secretary Sajid Javid said, according to the Associated Press.

British Formula 1 driver Lewis Hamilton, who tested positive for COVID-19 in December, said he may be suffering its effects after appearing unwell Sunday after finishing second at the Hungarian Grand Prix.

“I’ve been fighting all year really with staying healthy after what happened at the end of last year and it’s still, it’s a battle,” the 36-year-old said after seeing a doctor after the race. “I haven’t spoken to anyone about it but I think (the effects of COVID are) lingering. I remember the effects of when I had it and training has been different since then.”

In Berlin, thousands marched Sunday to protest pandemic restrictions and about 600 protesters were detained after clashes with police, the AP reported.

While Germany eased many of its restrictions in May, large gatherings remain banned. The number of new cases of COVID-19, the disease caused by the coronavirus, remain low but are rising. Germany, with a population of 83 million, reported 2,100 new cases Sunday, more than 500 above last Sunday’s number.

Since the pandemic began, it has reported 3.8 million cases and 92,000 deaths.

More than 200 employees at two major hospitals in San Francisco, in the western U.S. state of California, have tested positive for the coronavirus, according to a report Saturday in The New York Times.

Most of the staff members at Zuckerberg San Francisco General and the University of California, San Francisco Medical Center Hospital were fully vaccinated and most of them tested positive for the highly transmissible delta variant of the coronavirus, according to the newspaper.

Only two cases required hospitalization. The hospitalization rate would have been higher without vaccinations, said Dr. Lukejohn Day, Zuckerberg’s chief medical officer.

Johns Hopkins Coronavirus Resource Center said Sunday evening there are 198 million cases of COVID-19, the disease caused by the coronavirus, and 4.2 million deaths globally. The U.S. leads the world in the number of COVID-19 cases, with 35 million, and 613,174 deaths, according to the university.

 

Source: Voice of America

San Francisco Hospital Staff Test Positive For COVID

More than 200 employees at two major hospitals in San Francisco, in the western U.S. state of California, have tested positive for the coronavirus, according to a report Saturday in The New York Times.

Most of the staff members at Zuckerberg San Francisco General and the University of California, San Francisco Medical Center Hospital were fully vaccinated and most of them tested positive for the highly transmissible delta variant of the coronavirus, according to the newspaper.

Only two cases required hospitalization. The hospitalization rate would have been higher without vaccinations, said Dr. Lukejohn Day, Zuckerberg’s chief medical officer said.

A COVID-related government ban on residential evictions expired Saturday, exposing millions of Americans to the risk of having their belongings thrown into the streets.

Reuters reports that more than 6.5 million households, totaling some 15 million people, are behind on their rental payments.

Tokyo Olympic officials said Sunday they found 18 new COVID cases among people connected with the Olympics.  Only one unidentified athlete was included in the count.

Tokyo’s metropolitan government said new coronavirus infections surged to a record high Saturday as the city hosts the Olympic Games.

The government reported 4,058 new cases, topping 4,000 for the first time.

 

The new record was set one day after Japan, with a population of more than 126 million, extended a state of emergency for Tokyo through the end of August to contain the spread. The extension also applies to three prefectures near Tokyo and the western prefecture of Osaka.

A new record for infections also was set nationwide Saturday. Public broadcaster NHK reported 12,341 new cases, 15% higher than the day before.

Since the start of the pandemic, Japan has reported 914,718 confirmed cases of COVID-19, the disease caused by the coronavirus, and 15,197 deaths, according to the Johns Hopkins Coronavirus Resource Center.

Protests related to the coronavirus pandemic occurred Saturday in countries including France, Italy and Israel.

In France, more than 200,000 people protested in cities and towns around the country to voice opposition to President Emmanuel Macron’s recent COVID-19 measures, media reported.

While most protests were peaceful, in Paris, where more than 14,000 people gathered, three police officers were injured in clashes with demonstrators, according to Reuters.

 

The French government has instituted a mandatory coronavirus health pass in an effort to control the highly contagious delta variant of the coronavirus. The variant, first reported in India, has pushed the number of COVID-19 cases in France from a few thousand each day in early July to 24,000 new cases on Friday, health officials said.

The health pass will be needed for people to be able to enter most public spaces, such as restaurants, museums and movie theaters. The pass, which takes effect August 9, requires a vaccination or a quick negative test or proof of a recent recovery from COVID-19 and mandates vaccine shots for all health care workers by mid-September, the Associated Press reported.

France, a country of 67 million, was hit hard in the early stages of the pandemic and has recorded 6.1 million confirmed cases of the disease and 112,011 deaths, according to Johns Hopkins.

For a second week, thousands of protesters in Italy, also opposed to the use of a vaccine pass, demonstrated in cities including Rome, Milan and Naples.

In Tel Aviv, several hundred Israelis protested new coronavirus restrictions and vaccines as the country sees a dramatic rise in COVID-19 cases because of the delta variant.

On Saturday, the health ministry recorded 2,435 new COVID-19 cases, the highest number since March.

To battle the outbreak, Israel rolled out a booster shot for older citizens, reimposed mask requirements indoors and restored “green pass” restrictions requiring vaccine certificates for entering enclosed spaces such as gyms, restaurants and hotels, according to Agence France-Presse.

Nearly 60% of Israel’s 9.3 million people have gotten two shots, mostly with the Pfizer vaccine, according to AFP, but about one million Israelis still refuse to be vaccinated.

Israel has had 871,343 confirmed cases of the coronavirus and 6,469 deaths, according to Johns Hopkins.

Vietnam said Saturday it would extend travel restrictions in Ho Chi Minh City and 18 other southern cities and provinces for another two weeks to contain its worst outbreak to date, according to Reuters.

 

The extension begins Monday in a country that contained the virus for much of the pandemic but reports a total of 141,000 cases and more than 1,100 deaths, according to Johns Hopkins, 85% of which were reported in the last month.

The White House announced on Friday that U.S. Vice President Kamala Harris would travel in August to Singapore and Vietnam.

Symone Sanders, a White House senior adviser and chief spokesperson, said in a statement released Friday that Harris would engage with the leaders of both countries on issues of mutual interest, including the global response to the COVID-19 pandemic.

The White House did not give specific dates for the trip.

A weekend lockdown has been imposed in India’s southern state of Kerala as it grapples with about 20,000 new cases daily, Reuters reported. Federal authorities sent experts to the area to monitor developments in the state that accounts for more than 37% of the nearly 32 million cases reported by India’s health ministry.

Australia’s third-largest city, Brisbane, began a COVID-19 lockdown on Saturday, amid rising case numbers. Neighboring areas will also be subject to the stay-at-home orders.

 

In London, a four-day “vaccine music festival” got underway Saturday. The event was to encourage people to take the COVID-19 vaccine. Already, more than 72% of people older than 18 in the United Kingdom have received two doses of vaccine, according to government figures reported by the AP.

England, which recently lifted most of its COVID-19 restrictions, said starting Monday, fully vaccinated visitors from the European Union or the United States would no longer need to quarantine upon arrival.

Johns Hopkins Coronavirus Resource Center said early Sunday there are 197.9 million cases of COVID-19, the disease caused by the coronavirus, and 4.2 million deaths globally.  The U.S. leads the world in number of COVID-19 cases, with nearly 35 million, and 613,157 deaths, according to the university.

 

 

Source: Voice of America