Interlink Electronics, Inc. (OTC: LINK), a global leader in human-machine interface and sensor technologies, today announced their unaudited results for the fourth quarter and audited results for the year ended December 31, 2013.
Fourth Quarter 2013 vs. 2012 Revenue increased 35.1% to $2,013,000 from $1,490,000;
Gross margin was 37.8%, compared to 43.8%;
Total operating expenses were 38.8% of revenues, compared to 65%;
Operating loss was ($21,000), compared to ($322,000);
Income from continuing operations, net of tax, was $33,000 or $0.04 per basic and diluted share, compared to a loss from continuing operations, net of tax, of ($324,000) or ($0.44) per basic and diluted share; and
Net income increased to $41,000 or $0.06 per basic and diluted share, from a net loss of ($316,000) or ($0.43) per basic and diluted share.
Year Ended December 31, 2013 vs. 2012
Revenue increased 17.7% to $7,551,000 from $6,413,000;
Gross margin was 42.3%, compared to 49.5%;
Total operating expenses were 43.1% of revenues, compared to 50.6%;
Operating loss decreased to ($64,000) from an operating loss of ($73,000);
Loss from continuing operations, net of tax, was ($22,000) or ($0.03) per basic and diluted share, compared to income from continuing operations, net of tax, of $102,000 or $0.14 per basic and diluted share(1); and
Net income decreased to $12,000 or $0.02 per basic and diluted share, from net income of $136,000 or $0.19 per basic and diluted share (1).
Interlink has no debt and its stockholders' equity at December 31, 2013 was $3,326,000. Non-GAAP stockholders' equity per share was $4.54 per share, which consists of $2.03 in Non-GAAP cash per share.
"The global Interlink Electronics organization continues to demonstrate improvements in the business fundamentals, specifically the year-over-year revenues and total operating expenses as a function of revenue. This repeated trend further validates our strategic initiatives and business plan," stated Howard D. Goldberg, Ph.D., President and COO of Interlink Electronics. Dr. Goldberg continued, "This positive result for FY2013 sets the stage for further business growth in FY2014. We also believe that this momentum will be further accelerated by the recent strategic investments that we have made in our global R&D center in Singapore and the recruitment of a seasoned VP of Global Sales to be based in the United Kingdom starting in May."
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