Lantronix, Inc. (NASDAQ:LTRX) offers secure communication technologies. The stock of the California-based company is somewhat illiquid but there have been some sessions of intensive trading.
One of them happened yesterday. LTRX closed up 24.35% at $2.86 on a little over 130 thousand shares.
It seems the market performance was inspired by a press release about the demonstration of xPrintServer™ at Digital Experience. The previous time LTRX managed a similar performance was back in December, when the company launched the xPrintServer™.
The product is “the first Apple iOS® print server compatible with the iPad®2, iPad, iPhone®, iPod® touch, and virtually any device running Apple’s iOS mobile operating system.”
Before the excitement around the xPrintServer™ started, LTRX had been in decline for a while. The financial performance of the company hasn’t been very impressive lately, and in November 2011 LTRX had to commence implementing a restructuring plan and reduce the number of employees. The effect of it is yet to be seen but the company stated in its latest quarterly report it expected to have to pay approximately $300 thousand in severance.
The future performance of LTRX stock may prove to be closely tied to the market performance of its xPrintServer™ and the degree of success of the restructuring plan.