lantronix_8k-070208.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported)
July
2, 2008
LANTRONIX,
INC.
(Exact
name of registrant as specified in its charter)
DELAWARE
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1-16027
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33-0362767
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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15353
Barranca Parkway
Irvine,
California 92618
(Address
of principal executive offices, including zip code)
(949) 453-3990
(Registrant's
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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[
] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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[
] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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[
] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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[
] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Item
2.05 Costs Associated with Exit or Disposal
Activities
On July
2, 2008, Lantronix, Inc., a Delaware corporation (the “Company”), announced that
it implemented a restructuring plan on June 30, 2008 designed to improve
customer focus, operate more efficiently and position the Company for
profitability.
As part
of the restructuring plan, the Company initiated a workforce reduction of 10
employees from the senior-level ranks of its Sales, Marketing, Operations and
Engineering groups. The workforce reduction reduces annual expenses
by approximately $2.0 million although a portion of the $2.0 million annual
savings will be reinvested in the Company to improve skill mix. The
Company expects to incur an estimated restructuring charge ranging from $700,000
to $800,000 for employee severance and related costs in the fourth fiscal
quarter of 2008.
A copy of
the press release issued by the Company with respect to this matter is attached
hereto as Exhibit 99.1 of this Current Report.
Item
9.01 Financial Statements and Exhibits.
(d)
99.1
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Press
Release dated July 2, 2008.
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Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Date:
July 2, 2008
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LANTRONIX,
INC., a Delaware corporation
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By:
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/s/
Reagan Y. Sakai
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Reagan
Y. Sakai
Chief
Executive Officer
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