What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2020-11-25 compared with 2019-11-27 · 19 added, 22 removed, 48 unchanged (46% of the section changed)

7 unchanged sentences

Issuer Repurchases of Equity Securities

On April 24, 2018, our Board of Directors authorized a program to repurchase up to $20.0 million of our common stock primarily to return capital to shareholders.

This repurchase authorization expired on May 1, 2019.

There were no shares repurchased under this program.

The following table presents the information with respect to purchases made by or on behalf of Digi International Inc.

or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of our common stock during the fourth quarter of fiscal 2020:

Total Number of Shares Purchased (1)

Average Price Paid per Share

Total Number of Shares Purchased as Part of a Publicly Announced Program

Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program

Period Total Number of Shares Purchased (1) Average Price Paid per Share Total Number of Shares Purchased as Part of a Publicly Announced Program Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program

July 1, 2020 - July 31, 2020 434 $ 12.12 — $ —

1 unchanged sentence

September 1, 2020 - September 30, 2020 — $ — — $ —

Total 7,495 $ 13.25 — $ —

(1) All shares reported were forfeited by employees in connection with the satisfaction of tax withholding obligations related to the vesting of restricted stock units.

7 unchanged sentences

Benchmark Index and the Peer Index and assumes the reinvestment of all dividends.

FY15 FY16 FY17 FY18 FY19 FY20

Digi International Inc.

$ 100.00 $ 96.69 $ 89.91 $ 114.08 $ 115.52 $ 132.57

Benchmark TR Index $ 100.00 $ 115.23 $ 136.80 $ 161.14 $ 165.93 $ 191.58

3 unchanged sentences

For Fiscal Years Ended September 30, 2020 2019 2018 2017 2016

(as adjusted)*

Revenue $ 279,271 $ 254,203 $ 226,893 $ 181,340 $ 203,005

Gross profit $ 143,972 $ 119,035 $ 109,054 $ 87,233 $ 99,680

Sales and marketing 52,761 45,801 44,517 33,955 33,847

1 unchanged sentence

General and administrative 36,012 25,685 28,276 13,331 17,026

Restructuring charges, net

Restructuring charges (reversals) 117 (87) 301 2,515 747

Operating income 11,317 10,072 2,782 8,866 17,105

Total other income (expense), net (1)

Total other (expense) income, net (3,854) 1,073 468 684 (415)

Income before income taxes 7,463 11,145 3,250 9,550 16,690

Income tax provision (2)

Income tax (benefit) expense (1) (948) 1,187 1,619 147 3,212

Income from continuing operations 8,411 9,958 1,631 9,403 13,478

Income (loss) from discontinued operations, after income taxes

Basic net income (loss) per common share:

Income from discontinued operations, after income taxes — — — — 3,230

Net income $ 8,411 $ 9,958 $ 1,631 $ 9,403 $ 16,708

Basic net income per common share:

Continuing operations $ 0.29 $ 0.36 $ 0.06 $ 0.36 $ 0.52

1 unchanged sentence

Net income $ 0.29 $ 0.36 $ 0.06 $ 0.36 $ 0.65

Diluted net income (loss) per common share:

Diluted net income per common share:

Continuing operations $ 0.28 $ 0.35 $ 0.06 $ 0.35 $ 0.51

3 unchanged sentences

Working capital (current assets less current liabilities) $ 108,828 $ 148,089 $ 126,473 $ 155,911 $ 171,837

Total assets $ 528,682 $ 398,698 $ 372,146 $ 345,696 $ 336,166

Long-term debt, less current portion $ 58,980 $ — $ — $ — $ —

Stockholders' equity $ 371,500 $ 348,978 $ 330,493 $ 319,029 $ 300,029

1 unchanged sentence

Number of employees as of September 30 656 543 516 514 515

*Prior period information has been restated for the adoption of ASU No.

2014-09, “ Revenue from Contracts with Customers (Topic 606) ”, which we adopted on October 1, 2018.

Included in total other income (expense), net for fiscal 2015 is a $1.4 million gain from the settlement of a property and casualty insurance claim related to the replacement of our capital equipment destroyed in the fire at our subcontract manufacturer's location in Thailand.

In fiscal 2019, we recorded discrete net tax benefits of $0.5 million, in fiscal 2018 we recorded discrete net tax expense of $1.5 million and in fiscal 2017 we record discrete net tax benefits of $1.0 million (see Note 12 to our consolidated financial statements).

In fiscal 2016, we recorded net tax benefits of $1.5 million primarily from the reinstatement of the federal research and development tax credit for calendar year 2015 and the reversal of reserves due to the expiration of statutes of limitations from U.S.

(1) In fiscal 2020, we recorded discrete net tax benefits of $1.2 million, in fiscal 2019, we recorded discrete net tax benefits of $0.5 million and in fiscal 2018 we recorded discrete net tax expense of $1.5 million (see Note 13 to our consolidated financial statements).

In fiscal 2017, we recorded net tax benefits of $1.0 million primarily from the reversal of tax reserves due to the expiration of statute of limitations from U.S.

and foreign tax jurisdictions.

In addition, we filed amended income tax returns resulting in an additional domestic refund related to qualified manufacturing activities.

In fiscal 2015, we recorded net tax benefits of $0.8 million resulting from the reinstatement of the research and development tax credit for calendar year 2014, reversal of tax reserves due to the expiration of statute of limitations from U.S.

and foreign tax jurisdictions and reversal of tax reserves due to the resolution of tax audits.

(2) Earnings per share are calculated by line item and may not add due to the use of rounded amounts.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity