Irvine’s Lantronix Drops Plans to Buy Lightwave

Lantronix Inc. said Wednesday that it has scrapped plans to acquire Lightwave Communications, a Connecticut company that makes console management software.

Instead, the companies are negotiating an agreement for Lightwave to supply products for Lantronix network device servers, the Irvine company said.

Lantronix also said that despite the current economic slowdown, it is standing by previous earnings estimates of 3.5 cents to 4 cents a share for the fiscal fourth quarter and 25 cents to 27 cents for the year. Analysts have been estimating earnings of 5 cents a share for the quarter and 29 cents for the year, according to a First Call/Thomson Financial survey.

Lantronix stock gained 28 cents Wednesday to close at $8.65 a share on Nasdaq. Reuters