WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Interlink Electronics, Inc. (OTCQB: LINK), a global leader in human-machine interface (HMI) and sensor technologies, reported financial results for the twelve months ended December 31, 2015.
- Revenue increased 2% to $10.5 million from $10.3 million in the same year-ago period with strong growth across automotive, medical and industrial markets. Gross margin increased to 54% in 2015 from 49% in the same year-ago period.
- Total operating expenses as a percentage of total revenue for 2015 were 38% compared to 34% in the same year-ago period while operating income increased 9% to $1.7 million in 2015 from $1.5 million in 2014.
- Income from continuing operations, net of tax, was $1.7 million, or $0.29 per basic and diluted share, compared to income from continuing operations, net of tax, of $1.5 million, or $0.26 per basic and diluted share, in the same year-ago period.
- Net income for 2015 totaled $1.7 million, or $0.29 per basic and diluted share, an 11% improvement from $1.6 million, or $0.27 per basic and diluted share, in 2014.
- Working capital increased to $6.5 million at December 31, 2015 from $4.7 million at December 31, 2014. At December 31, 2015, the Company had $4.4 million in cash and no debt.
“I’m extremely pleased with our 2015 financial results,” stated Steven Bronson, Interlink’s President and CEO. “We grew our revenues across multiple markets by providing innovative, high-quality force-sensing technology to our diverse and expanding customer base. The potential for our technology continues to expand as demonstrated by our recently awarded patent for our Force Sensing Transceiver (FSTx), a modular solution which combines force sensing and signal processing functions in a miniaturized form factor with advanced features and embedded intelligence.
“We are investing in our R&D team as we move into an expanded facility located at the Techpoint property in Singapore. Techpoint houses multiple, multi-national companies in the semiconductor, information technology and electronics industries. We intend to leverage the dynamic technology environment and advanced engineering talent available in Singapore as our business grows. We are also exploring accelerating our organic growth through acquisitions of complementary technologies.
“With the SEC’s declaration that our Form 10 Registration Statement is effective, and our upcoming stock dividend on April 1, we are optimistic that we will achieve our goal of relisting on NASDAQ within the next thirty days. We believe listing on NASDAQ will provide us greater visibility and liquidity to investors,” concluded Mr. Bronson.
About Interlink Electronics, Inc.
Interlink Electronics is a world-leading trusted advisor and technology partner in the advancing world of human-machine interface and force-sensing 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 30 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), global research and development center in Singapore, printed-electronics factory in China, global distribution and warehouse facility in Hong Kong, and offices in North Carolina and Japan. For more information, please see our website at www.interlinkelectronics.com.
This release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company’s views on future financial performance, market growth, new customers, and new product introductions, and are generally identified by phrases such as “thinks,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company’s forward-looking statements include, among other things, the following: 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; 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. These and other risks are more fully described in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recently filed Annual Report on Form 10-K, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.