WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Interlink Electronics, Inc (OTC: LINK), a global leader in human-machine interface and sensor technologies, today announced their unaudited results for the first quarter ended March 31, 2015.
First Quarter Results 2015 vs. 2014
- Revenue increased 31.8% to $2,257,000 from $1,713,000;
- Gross margin was 50.6%, compared to 44.1%;
- Total operating expenses were 39.4% of revenues compared to 51.6%;
- Operating income was $251,000 compared to an operating loss of ($128,000);
- Income from continuing operations, net of tax, was $266,000 or $0.05 per basic and diluted share(1) compared to loss from continuing operations, net of tax of ($138,000) or ($0.02) per basic and diluted share(1); and
- Net income was $274,000 or $0.05 per basic and diluted share(1) compared to net loss of ($130,000) or ($0.02) per basic and diluted share(1).
(1)All per-share and weighted average share amounts have been adjusted to retroactively reflect the four-for-one forward stock split effected on May 29, 2014 and the two-for-one forward stock split effected on February 24, 2015.
“I am pleased with the progress Interlink continues to achieve. In addition, we continue to expand our global team in key positions which will support our future growth,” stated Mr. Steven N. Bronson, Chairman and CEO of Interlink Electronics.
Interlink Electronics had no debt and its non-GAAP stockholders’ equity at March 31, 2015 was $5,144,000 or $0.88 per share, which consisted of $2,625,000 or $0.45 per share in non-GAAP cash per share.
About Interlink Electronics, Inc.
Interlink Electronics is a world-leading trusted advisor and technology partner in the advancing world of human-machine interface and sensor technologies. Interlink Electronics has led the printed electronics industry in its commercialization of its patented Force-Sensing Resistor (FSR®) technology, which has enabled rugged and reliable human-machine interface ("HMI") solutions. For over 29 years, Interlink Electronics' solutions have focused on handheld user input, menu navigation, cursor control, and other intuitive interface technologies for the world's top electronics manufacturers. Interlink Electronics has a proven track record of supplying human-machine interface solutions for mission-critical applications in a wide range of markets, including, but not limited to, consumer electronics, automotive, industrial, and medical devices. Interlink Electronics serves a world-class customer-base from its corporate headquarters in Westlake Village, California (greater Los Angeles area), printed-electronics factory in China, global distribution and warehouse facility in Hong Kong, and offices in Singapore, the United Kingdom, France, and Japan. For more information, please see our website at http://www.InterlinkElectronics.com.
FORWARD LOOKING STATEMENTS: This release contains "forward-looking statements" involving a number of risks and uncertainties as defined in the Private Securities Litigation Reform Act of 1995. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: historical losses and negative cash flow, the success of business divestitures and acquisitions, the ownership of the majority of our stock by a small group of investors, our success in predicting new markets and the acceptance of our new products, efficient management of our infrastructure, the pace of technological developments and industry standards evolution and their effect on our target product and market choices, the effect of outsourcing technology development, changes in the ordering patterns of our customers, a decrease in the quality and/or reliability of our products, protection of our proprietary intellectual property, competition by alternative sophisticated as well as generic products, historical weaknesses in internal controls over financial reporting, continued availability of raw materials for our products at competitive prices, disruptions in our manufacturing facilities, risks of international sales and operations including fluctuations in exchange rates, compliance with regulatory requirements applicable to our manufacturing operations, and customer concentrations. The forward-looking statements contained in this release should be considered in light of these risk factors.