Interlink Electronics, Inc. Announces First Quarter 2013 Results

Interlink Electronics, Inc. Announces First Quarter 2013 Results

CAMARILLO, Calif.--(BUSINESS WIRE)-- Interlink Electronics, Inc. (OTC: LINK), a global leader in sensor technology, today announced their unaudited results for the first quarter ended March 31, 2013.

First Quarter Results 2013 vs. 2012

  • Revenue increased 7.7% to $1,826,000 from $1,695,000;
  • Selling, General and Administrative ("SG&A") expenses were 38% of revenue compared to 25%;
  • Gross margin was 49.3% compared to 53.8%;
  • Operating income was $66,000 compared to $187,000;
  • Income from continuing operations, net of tax, was $62,000 or $0.08 per basic and diluted share compared to $184,000 or $0.25 per basic and diluted share;
  • Net income decreased to $70,000 or $0.09 per basic and diluted share, from $192,000 or $0.26 per basic and diluted share.

Interlink Electronics had no debt and its stockholders' equity at March 31, 2013 was $3,355,000. Non-GAAP stockholders' equity per share was $4.56, which consisted of $2.75 in non-GAAP cash per share.

"Q1 of 2013 represents the completion of the transition of Interlink Electronics from a business restructuring phase into a growth phase. The business fundamentals and strategies have been successfully implemented as demonstrated by 2012 being our first profitable year since 2000," stated Steven N. Bronson, the Chairman and CEO of Interlink Electronics. Mr. Bronson continued, "In order to properly fuel our growth strategy, we had to make measured, strategic investments in Sales, Marketing and Business Development resources and initiatives, as well as ramping up manufacturing capacity in order to transition products into volume production phase. This has collectively resulted in the financial snapshot of Q1/2013 showing an increase in year-over-year SG&A expenses."

"As 2013 unfolds, we fully expect a significant return on these strategic investments as we execute our strategic growth plans," stated Howard D. Goldberg, Ph.D., Executive Vice President of Corporate Business Development & Strategic Partnerships. Dr. Goldberg continued, "We expect Interlink Electronics' growth trajectory to be composed of the core FSR® products, new products and acquisition opportunities."

Interlink Electronics is a world leader in the design of patented Force-Sensing Resistor (FSR®) technology. For over 28 years, Interlink Electronics' solutions have focused on handheld user input, menu navigation, cursor control, & other intuitive interface technologies for the world's top electronics manufacturers. Interlink Electronics has a 16-year track record of supplying human machine interface ("HMI") solutions for mission-critical and rugged applications.

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, pending litigation against Interlink, historical weaknesses in internal controls over financial accounting, the continued availability at competitive prices of raw materials for our products, 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.

Interlink Electronics, Inc.
Steven N. Bronson, Chairman & CEO
805-484-8855 ext. 112

KEYWORDS:   United States  North America  California


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