Interlink Electronics announces preliminary results for the third quarter of 2021

0

Revenue for the quarter increased by 44% compared to the previous year quarter

Posted: October 20, 2021 at 9 a.m. EDT|Update: 1 hour ago

IRVINE, Calif., 20 October 2021 / PRNewswire / – Interlink Electronics, Inc. (NASDAQ: LINK), a trusted advisor and leading technology partner in the evolving world of human-machine interfaces (HMIs) and force sensing technologies, announced today the unaudited preliminary financial results for the quarter ended September 30, 2021. The preliminary sales for the quarter were $ 2.2 million, up 44% from the previous year period, and sequentially up 8% from the previous quarter. Preliminary gross margin was 58% for the quarter. Preliminary profit before tax for the quarter was $ 0.3 million.

(PRNewsfoto / Interlink Electronics)

Preliminary consolidated
Financial results

Three months ended September 30

Nine months ended September 30,

(Amounts in dollars in
thousands)

2021

2020

$ ∆

%

2021

2020

$ ∆

%

Prelim.

Prelim.

Net revenue

$

2,223

$

1,548

$

675

43.6%

$

5 855

$

4,941

$

914

18.5%

Gross profit

$

1,286

$

811

$

475

58.6%

$

3,287

$

2,768

$

519

18.8%

Gross margin

57.8%

52.4%

56.1%

56.0%

Income (loss) before tax

$

253

$

(120)

$

373

$

307

$

(153)

$

460

“We are very satisfied with our financial performance in the third quarter and we continue to develop our sales pipeline for next year,” said Steven N. Bronson, President, President and CEO of Interlink Electronics. “We are also actively seeking acquisition opportunities to accelerate our growth and diversify our products and customers.”

About Interlink Electronics, Inc.

Interlink Electronics is one of the world’s leading providers of HMI, sensors and IoT solutions. In addition to standard product offerings, Interlink uses its expertise in materials science, manufacturing, firmware and software to produce in-house system solutions for custom applications. For 35 years, Interlink has been the leader in the printed electronics industry in the commercialization of its patented Force Sensing resistor.® and has provided some of the world’s best electronics manufacturers with intuitive sensor and interface technologies like the VersaPad and the new VersaPad Plus, which has the largest active area of ​​any resistive touchpad. It has also a proven track record in providing technology solutions for critical applications in a wide range of markets including medicine, automotive, consumer electronics, telecommunications and industrial control, providing standard sensors and Custom-designed designs that give engineers the flexibility and function they look for in today’s sophisticated electronic devices. Interlink serves an international clientele from its head office in Irvine, California, and a world-class materials science laboratory and R&D center at Camarillo, California. They are supported by strategic global locations covering manufacturing, distribution and sales support. For more information, please visit InterlinkElectronics.com.

Forward-looking statements

This press release contains forward-looking statements. Forward-looking statements include, without limitation, the Company’s unaudited preliminary financial and operating results for the quarter ended. September 30, 2021, and the company’s expectations with respect to its product pipeline and acquisition opportunities, and are typically identified by phrases such as “think”, “anticipate”, “believe”, “estimate”, “s ‘expects at,’ “intends,” “plans,” and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors that could cause actual results differ materially from the forward-looking statement, including risks associated with changes in our unaudited preliminary financial results based on the completion of our financial statement closing procedures and review by our expert firm -independent accountants recorded these financial statements. These statements are based, among other things, on assumptions made by management and on information currently available, including those known to them. these and management’s 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 others, the following: our success in predicting new markets and accepting our new products; effective management of our infrastructure; the pace of technological developments and changing industry standards and their effect on our product choices and target markets; the effect of outsourcing technological development; changes in the ordering habits of our customers; a decrease in the quality and / or reliability of our products; the protection of our exclusive intellectual property; competition from sophisticated alternative products as well as generic products; continuous availability of raw materials for our products at competitive prices; disruptions in our manufacturing facilities; risks of international sales and transactions, including fluctuations in exchange rates; compliance with regulatory requirements applicable to our manufacturing operations; and customer concentrations. Other factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are included under the sections “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. in our most recent Annual Report (Form 10 -K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Interlink Electronics, Inc.
[email protected]
Steven N. Bronson, CEO
805-623-4184

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SOURCE Interlink Electronic

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