AskMuncher
3 years ago
$LINK Interlink Electronics Names Graham Wren as Strategic Technical Advisor
Press Release | 02/16/2021
Interlink Electronics Names Graham Wren as Strategic Technical Advisor
Wren will assist Interlink in expanding its range of technological offerings and solutions
PR Newswire
IRVINE, Calif., Feb. 16, 2021
IRVINE, Calif., Feb. 16, 2021 /PRNewswire/ -- Interlink Electronics, Inc. (OTC: LINK), a world-leading trusted technology partner in the rapidly advancing world of human-machine interface (HMI) devices, sensors, and other cutting-edge technologies, welcomes aboard Professor Graham Wren as strategic technical advisor to the company. Wren's appointment is the latest advancement in Interlink's commitment to introducing a steady stream of new product offerings.
Based in Glasgow, Scotland, Wren is major projects director and special advisor to the Principal at Strathclyde University. Over the course of his career, he has led projects in such diverse fields as nuclear technology, forensic science, and industrial research. He has also helped create more than 20 industry-focused transnational research centers that have collectively raised more than $2 billion.
"Interlink is vigorously pursuing the development and acquisition of new technological capabilities and product offerings," said Steven N. Bronson—chairman, president and CEO of Interlink Electronics. "Professor Wren's extensive insight into a vast array of technical industries will help Interlink evolve beyond our signature sensors into new technological frontiers."
Wren has served on the board of more than 30 companies and research centers in the pharmaceutical, aeronautical, advanced manufacturing, nuclear, photonics, security, and asset management sectors. He is a Chartered Engineer and Chartered Director and is a Fellows of the UK's national engineering academy, the Royal Academy of Engineering and was awarded an OBE by HM Queen Elizabeth II in the 2019 Queen's Birthday honours list for services to Engineering, Science and Higher Education.
"Interlink's rich history has provided a strong technological base from which to grow," said Wren. "I look forward to contributing to Interlink's newest phase of development."
About Interlink Electronics
Interlink Electronics is a world-leading trusted provider of HMI, sensor, and IoT solutions. In addition to standard product offerings, Interlink utilizes its expertise in materials science, manufacturing, firmware, and software to produce in-house system solutions for custom applications. For 35 years, Interlink has led the printed electronics industry in the commercialization of its patented Force Sensing Resistor® technology and has supplied some of the world's top electronics manufacturers with intuitive sensor and interface technologies like the VersaPad and the new VersaPad Plus, which boasts the largest active surface area of any resistive touchpad. It also has a proven track record of supplying technological solutions for mission-critical applications in a diverse range of markets—including medical, automotive, consumer electronics, telecommunications, and industrial control—providing standard and custom-designed sensors that give engineers the flexibility and functionally they seek in today's sophisticated electronic devices. Interlink serves an international customer base from its headquarters in Irvine, Calif., and pending world-class materials science lab and R&D center in Camarillo, Calif. They are supported by strategic global locations covering manufacturing, distribution, and sales support. For more information, please visit InterlinkElectronics.com.
Forward Looking Statements
This release contains forward-looking statements. Forward-looking statements include, but are not limited to, the company's plans for future product offerings, 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 ability to identify suitable acquisitions candidates on acceptable terms; 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. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "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 any forward-looking statements, whether as a result of new information, future events or otherwise.
Cision View original content:http://www.prnewswire.com/news-releases/interlink-electronics-names-graham-wren-as-strategic-technical-advisor-301228065.html
SOURCE Interlink Electronics
AskMuncher
3 years ago
$LINK Interlink Electronics Reports Third Quarter 2020 Results
Press Release | 11/12/2020
Interlink Electronics Reports Third Quarter 2020 Results
PR Newswire
IRVINE, Calif., Nov. 12, 2020
IRVINE, Calif., Nov. 12, 2020 /PRNewswire/ -- Interlink Electronics, Inc. (OTC: LINK), a world-leading trusted advisor and technology partner in the advancing world of human-machine interface (HMI) and force-sensing technologies, today announced its financial results for the three and nine months ended September 30, 2020. GAAP net income for the quarter was $65 thousand (or $0.01 per share), reflecting a decrease from GAAP net income of $111 thousand (or $0.02 per share) for the prior year period.
Consolidated Financial Highlights
(Amounts in thousands except per share data and percentages)
Three months ended September 30,
Nine months ended September 30,
Consolidated Financial Results
2020
2019
$ ?
% ?
2020
2019
$ ?
% ?
Net revenue
$
1,548
$
2,157
$
(609)
(28.2)
%
$
4,941
$
5,613
$
(672)
(12.0)
%
Gross profit
$
811
$
1,081
$
(270)
(25.0)
%
$
2,768
$
2,834
$
(66)
(2.3)
%
Gross margin
52.4
%
50.1
%
56.0
%
50.5
%
Income (loss) from operations
$
(79)
$
203
$
(282)
(138.9)
%
$
(110)
$
231
$
(341)
(147.6)
%
Net income (loss)
$
65
$
111
$
(46)
(41.4)
%
$
60
$
(94)
$
154
(163.8)
%
Earnings (loss) per share (basic and diluted)
$
0.01
$
0.02
$
(0.01)
$
0.01
$
(0.01)
$
0.02
Revenue in the third quarter of 2020 decreased approximately 28% to $1.5 million from $2.1 million in the same year-ago period, primarily due to lower demand caused by the COVID-19 pandemic.
Gross margin increased to 52.4% from 50.1% due to product mix and operational efficiencies.
Income (loss) from operations was a loss of ($79) thousand for the third quarter of 2020, compared with income of $203 thousand in the same period in 2019. Operating income (loss) was impacted by lower gross profit and nearly flat operating expenses.
In the third quarter of 2020, after-tax net income was $65 thousand or $0.01 per basic and diluted share, compared to after-tax net income of $111 thousand or $0.02 per basic and diluted share in the same year-ago period.
The company ended the period with $6.1 million in cash and cash equivalents.
"We continue to position our business for future growth by increasing our investment in sales & marketing and recruiting senior technical resources in conjunction with the build-out of our R&D center in our existing Camarillo footprint. We expect to launch the world-class design lab in the first quarter of 2021," said Steven N. Bronson, CEO of Interlink Electronics, Inc.
Mr. Bronson also commented, "We are also moving forward with our efforts to list our common stock for trading on the NASDAQ Capital Market during the first quarter of 2021, having recently filed our application with NASDAQ to begin the process. A successful uplisting will play a role in our strategy to actively pursue acquisitions in 2021."
About Interlink Electronics, Inc.
Interlink Electronics is a world-leading trusted provider of HMI, sensor, and IoT solutions. In addition to standard product offerings, Interlink utilizes its expertise in materials science, manufacturing, firmware, and software to produce in-house system solutions for custom applications. For 35 years, Interlink has led the printed electronics industry in the commercialization of its patented Force Sensing Resistor® technology and has supplied some of the world's top electronics manufacturers with intuitive sensor and interface technologies like the VersaPad and the new VersaPad Plus, which boasts the largest active surface area of any resistive touchpad. It also has a proven track record of supplying technological solutions for mission-critical applications in a diverse range of markets—including medical, automotive, consumer electronics, telecommunications, and industrial control—providing standard and custom-designed sensors that give engineers the flexibility and functionally they seek in today's sophisticated electronic devices. Interlink serves an international customer base from its headquarters in Irvine, Calif., and pending world-class materials science lab and R&D center in Camarillo, Calif. They are supported by strategic global locations covering manufacturing, distribution, and sales support. For more information, please visit InterlinkElectronics.com.
Forward Looking Statements
This release contains forward-looking statements. Forward-looking statements include, but are not limited to, the timing for launch of our R&D center, plans to list our shares on NASDAQ and our intention to pursue acquisitions in 2021, 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 ability to meet NASDAQ's initial listing requirements; our ability to identify suitable acquisitions candidates on acceptable terms; 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. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "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 any forward-looking statements, whether as a result of new information, future events or otherwise.
Cision View original content:http://www.prnewswire.com/news-releases/interlink-electronics-reports-third-quarter-2020-results-301172394.html
SOURCE Interlink Electronics, Inc.
AskMuncher
4 years ago
$LINK Interlink Electronics Announces Form 10 Registration Statement Has Become Effective
Press Release | 10/05/2020
Interlink Electronics Announces Form 10 Registration Statement Has Become Effective
PR Newswire
IRVINE, Calif., Oct. 5, 2020
IRVINE, Calif., Oct. 5, 2020 /PRNewswire/ -- Interlink Electronics, Inc. (OTC: LINK), a world-leading trusted advisor and technology partner in the advancing world of human-machine interface (HMI) and force-sensing technologies, today announced that the Form 10 Registration Statement that Interlink filed to register its common stock under the Securities Exchange Act of 1934 has become effective. Interlink is now a fully reporting company under the Exchange Act. The Form 10 Registration Statement is available for review at the SEC's website, www.sec.gov, under the name Interlink Electronics, Inc. and at the company's website at www.interlinkelectronics.com.
About Interlink Electronics, Inc.
Interlink Electronics is a world-leading trusted provider of HMI, sensor, and IoT solutions. In addition to standard product offerings, Interlink utilizes its expertise in materials science, manufacturing, firmware, and software to produce in-house system solutions for custom applications. For over 35 years, Interlink Electronics has led the printed electronics industry in its commercialization of its patented Force Sensing Resistor® technology. It has provided solutions for handheld user input, menu navigation, cursor control, and other intuitive interface technologies to the world's top electronics manufacturers. These innovative solutions include the VersaPad and the new VersaPad Plus, which boasts the largest active surface area of any resistive touchpad. The company has a proven track record of supplying human machine interface solutions for mission-critical applications in a wide range of markets—including medical, automotive, consumer electronics, telecommunications, and industrial control—providing standard and custom designed sensors that give engineers the flexibility and functionally they seek in today's sophisticated electronic devices. Interlink Electronics serves an international customer base from its headquarters in Irvine, Calif., and a pending world-class materials science lab and R&D center in Camarillo, CA. These are supplemented by strategic global locations that cover manufacturing, distribution, and sales support. For more information, please see our website at InterlinkElectronics.com.
Cision View original content:http://www.prnewswire.com/news-releases/interlink-electronics-announces-form-10-registration-statement-has-become-effective-301145251.html
SOURCE Interlink Electronics, Inc.
free_bee
10 years ago
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."
Read more at http://www.broadwayworld.com/bwwgeeks/article/Interlink-Electronics-Inc-Announces-2013-Year-End-Financial-Results-20140327#PqcpkQZ8o8Tl6PMh.99
sarals
22 years ago
First profit in six quarters!
[comment] not bad considering the general state of the economy these days IMO
CAMARILLO, Calif., Oct 24, 2002 (BUSINESS WIRE) -- Interlink Electronics, Inc. (LINK, Trade), the world's leading developer of intuitive interface technologies and solutions for business and home applications, today announced its financial results for the third quarter of 2002. Revenues for the three months totaled $6.6 million -- up 10% as compared to $6.0 million for the second quarter of this year. The Company generated its first operating profit in six quarters, yielding a $30,000 operating profit in the third quarter as compared to an operating loss of $283,000 in the second quarter of this year. The net results for the third quarter of 2002 showed net income of $40,000 or break-even on a per share basis as compared to a loss of $333,000 or $0.03 loss per diluted share reported in the second quarter of 2002.
"We are very pleased with the Company's financial performance in the third quarter," said E. Michael Thoben, chairman, CEO and president. "We improved revenues by 10%, giving us two consecutive quarters of double-digit growth. This is particularly encouraging in light of the negative macro-economic factors influencing most technology companies. While it remains difficult to maintain much long term visibility under current market conditions, our shorter term expectations remain very positive and we expect to continue on a similar growth track.
"The Company's return to profitability is clearly a milestone. This accomplishment is attributed to not only the recent sales growth, but to the company's recently stream-lined structure and record operating efficiencies," continued Mr. Thoben. "Cash flow also remained strong as our positive operating cash flow of nearly $400,000 enabled us to complete the repayment of some of our Japanese loans without significant impact on our overall cash balance.
"Our business communications segment performed well again this quarter and accounted for 63% of our total worldwide revenues," added Mr. Thoben. "Our top OEMs in Asia and North America both continued to show progress over the last quarter, improving revenue by 8%. The Company's business communications branded business also continued to show steady progress at a modest 5%. We expect stronger fourth quarter growth in branded product sales as seasonality influences retail buying patterns.
"Our e-transactions business also continued to achieve record sales growth as well as solid market momentum during the third quarter," said Mr. Thoben. "This revenue growth was largely attributed to reorders from several of our existing key customers, such as Prudential, Walgreens, Charles Schwab and Ford Credit.
"We also continued building strategic relationships in vertical markets as part of our strategy to ensure ePad is the standard for electronic signatures. Specifically, we made significant progress in both drug testing and security/ID card vertical markets, announcing relationships with eScreen, Inc. and Viisage Technology, Inc. eScreen, who develops and markets rapid employment drug screening devices, currently processes millions of healthcare data transactions per year. As a first step, we have integrated ePad e-signature capability into their eScreen point-of-care drug screening products.
"Additionally, last week we announced that we had established a strategic partnership with Viisage Technology, Inc., who delivers more than 25 million digital-identification documents to federal, state and local government agencies issuing digital drivers' licenses, identity cards, social services cards and local law enforcement credentials. The first deployment of Interlink's ePad electronic signature solution with Viisage's image capture and facial recognition system is taking place at the Rhode Island Department of Motor Vehicles."
About Interlink Electronics, Inc.
Interlink Electronics, Inc. (LINK, Trade) is a global leader in the design and manufacture of intuitive interface technologies and products. Creating today's interface standards, our business communications, e-transactions, home entertainment and specialty businesses have established Interlink as the comprehensive source for branded and OEM solutions. Selected customers include Dell, HP/Compaq, InFocus, Microsoft, Mitsubishi, NEC, Sanyo, Sharp, Sony and Toshiba.
Recognized worldwide for innovative interface technologies and solutions, Interlink Electronics, Inc. serves a world-class customer-base from its corporate headquarters in Camarillo, CA and offices in Tokyo and Hong Kong. The company currently holds more than 70 patents protecting its Force Sensing Resistor (FSR(R)), VersaPoint(R) Pressure Pointing, VersaPad(R) pen input pad and RemoteLink(R) wireless communication technologies. See LINK online at http://www.interlinkelectronics.com/ or in Japan at http://www.interlinkelec.co.jp/.
All registrations and trademarks are properties of their respective owners.
Summarized Consolidated Statements of Operations
(000s except per share data)
Three Months Nine Months
Ended Sept. 30, Ended Sept. 30,
(unaudited) (unaudited)
2002 2001 2002 2001
Revenue $ 6,629 $ 6,036 $18,065 $19,964
Gross profit 2,701 2,464 7,442 6,590(1)
Product development &
research 748 839 2,481 2,684
Sales, marketing &
administration 1,923 2,218(2) 5,653 6,400(2)
Total operating expenses 2,671 3,057 8,134 9,084
Operating income (loss) 30 (593) (692) (2,494)
Other income 10 16 -- 183
Provision for tax expense
(benefit) -- (115) -- (764)
Net income (loss) $ 40 $ (462) $ (692) $(1,547)
Earnings (loss) per
share -- basic $ -- $ (.05) $ (.07) $ (.16)
Earnings (loss) per
share -- diluted $ -- $ (.05) $ (.07) $ (.16)
(1) Includes $2 million excess inventory reserve adjustment in second
quarter, 2001.
(2) Includes $50,000 in severance charges in second quarter, 2001 and
$300,000 adjustment to bad debt reserves in third quarter, 2001.
Selected Consolidated Balance Sheet Data (000s)
Sept. 30, Dec. 31,
2002 2001
(unaudited)
Cash and cash equivalents $ 8,222 $ 9,325
Working capital 18,759 19,333
Total assets 26,207 26,641
Long-term debt 1,637 1,855
Stockholders' equity 19,635 20,305
From time to time the Company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in this document regarding industry and revenue trends, seasonality, sales channels, industry product acceptance and future business activities should be considered in light of these factors.
Conference Call Information
Thursday, October 24, 2002 at 1:30 p.m. PT
Live Call-in #: 888-455-3620
Live International Call-in #: 312-470-7325
(Pass Code: "link")
Web cast address: http://www.interlinkelectronics.com
Telephonic replay available until October 29, 2002
Telephonic replay call in # (US) 800-945-7650
or (Intl) 402-220-3567
Interlink Electronics, Inc., Camarillo
http://www.interlinkelectronics.com
Investor Contact:
Michelle Lockard, 805/484-8855, ext. 114
mlockard@interlinkelectronics.com
Press Contact:
Keith M. Roberts, 805/484-8855, ext. 130
kroberts@interlinkelectronics.com
http://www.businesswire.com
http://clearstation.etrade.com/cgi-bin/bbs?post_id=3757852
Sara
Go Giants! Go 49ers!
sarals
22 years ago
Interlink Electronics' E-Signature Solution Adopted by Ford Credit for the Processing of Lease End Documents
Ford Credit Integrates Interlink's ePad and Valyd's eSign To Automate Dealerships Throughout the U.S.
CAMARILLO, Calif.--(BUSINESS WIRE)--March 5, 2002-- Interlink Electronics, Inc. (Nasdaq: LINK - news), the world's leading developer of intuitive interface technologies and solutions for business and home applications, announced today that Ford Credit, a subsidiary of Ford Motor Company (NYSE:F - news), will deploy Interlink's ePad handwritten electronic signature solution at thousands of dealerships throughout the U.S. Ford Credit's ePad implementation, which includes the installation of eSign software from Interlink's industry partner Valyd Inc., will utilize electronic signatures to automate processing of some of its lease end documents.
Interlink's ePad e-signature solution is part of a system-wide transition from paper lease end documents to electronic lease end documents. The processing of thousands of lease end documents yearly will reduce operations costs by providing a handwritten electronic signature that is understood and accepted by the consumer, easy to use, and legally binding.
``Electronic signature solutions, like that offered by Interlink's ePad and Valyd's eSign signature software, are being deployed by larger companies to enable customer hand-signing of electronic forms and applications,'' said Srinivas Sreeramaneni, president of Valyd, Inc. ``Motivated by sharp reductions in processing costs and transaction times, companies are leveraging their investment in information systems to carry more revenue directly to the bottom line.''
``We are witnessing the beginning of a trend,'' added Rod Vesling, vice president of sales and marketing, electronic transactions, Interlink Electronics, ``a transition on the part of larger companies from paper to electronic documents at the brick and mortar level. Our ePad sales strategy targets exactly these opportunities as well as those created by government agencies and companies automating consumer forms, worldwide.''
About ePad
Interlink Electronics' ePad solution captures the handwritten signature converting it to a biometrically-secure e-signature for use in electronic forms and transactions. By providing user-intuitive electronic signatures, ePad enables enhanced workflow, reduced operations costs and faster document processing times.
ePad e-signatures may be permanently bound into Microsoft® Word® documents, Outlook® e-mail messages, Adobe® Acrobat® PDF files, Internet documents, and many proprietary forms and transactions. ePad's e-signatures also contain a biometric handwriting profile that may be used to authenticate the identity of the signer. The ePad writing surface, which accepts signatures using any common stylus, has the natural feel of writing on paper.
About Interlink Electronics
Interlink Electronics, Inc. is the world's leading developer of intuitive interface technologies and solutions for business and home applications. Innovative products include electronic signature solutions for B2B, point-of-sale and consumer applications, interactive remote controls for business communications and broadband home entertainment markets, and integrated interface solutions for specialty and consumer electronics products.
Interlink Electronics' customers include Compaq, InFocus, Microsoft, Mitsubishi, NEC, Pioneer, Sanyo, Sharp, Sony, and Toshiba. In the electronic transactions market, the company's industry partners include Bluepoint Solutions, Cardiff, Communications Intelligence Corporation (CIC), Silanis Technologies, and Valyd Inc. Interlink Electronics maintains offices in Camarillo, California, Tokyo and Hong Kong, and is available online at http://www.interlinkelectronics.com/, or in Japan at http://www.interlinkelec.co.jp/.
About Ford Credit
Ford Credit is a wholly owned subsidiary of Ford Motor Company and is the world's largest automotive finance company. Now in its 43rd year, Ford Credit provides vehicle financing in 38 countries to more than 10 million customers and more than 12,500 automotive dealers. More information about Ford Credit can be found at http://www.fordcredit.com/.
About Valyd
Valyd is a leader in providing software solutions that verify ``who signed what, when, where and why.'' Headquartered in Campbell, CA (Silicon Valley), the company has delivered several product generations of signature capture/verification and document security products. Its eSign software development kit allows independent developer/integrators to add electronic signature authentication to their own software products and solutions. Valyd is available online at http://www.valyd.com.
From time to time the Company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in this document regarding industry and revenue trends, new markets, new product introductions, technology adoption, and future business activities should be considered in light of these factors.
Note to Editors: All registrations and trademarks are properties of their respective owners
--------------------------------------------------------------------------------
Contact:
Interlink Electronics, Inc. (805) 484-8855
http://www.interlinkelectronics.com/
Keith M. Roberts
Director, Corporate Communications
kroberts@interlinkelec.com
Michelle Lockard
Investor Relations
mlockard@interlinkelec.com
http://biz.yahoo.com/bw/020305/50118_1.html
Sara
sarals
22 years ago
4th Quarter 2001 Financials
Interlink Electronics Reports Fourth Quarter 2001 Financial Results
CAMARILLO, Calif.--(BUSINESS WIRE)--Feb. 14, 2002--Interlink Electronics, Inc. (Nasdaq:LINK - news), a world leader in the development of intuitive interface technologies and solutions for business and home applications, today announced financial results for the quarter and the year ended December 31, 2001.
Worldwide revenues for the fourth quarter totaled $5.3 million, compared to the $6 million posted in third quarter of 2001. For the year, revenues totaled $25.3 million compared to the $33.9 million recorded in 2000. Operations delivered a $491,000 loss for the quarter, as compared to the $593,000 operating loss in third quarter of 2001. For the year, the operating loss was $635,000 (excluding $2.4 million in one-time operating charges). This compares with an operating income of $3.6 million in 2000. The net loss reached $467,000 for the quarter and $2 million for the year. The loss per diluted share was $0.05 for the fourth quarter and $0.21 for the 2001 year.
``As anticipated, the performance of our Business Communications segment remained sluggish in the fourth quarter of 2001,'' said E. Michael Thoben, chairman, CEO and president of Interlink Electronics. ``During the current worldwide economic slowdown, we retained all of our major OEM customers. Their orders, however, have been more conservative reflecting current market conditions. We have used this opportunity to deepen and broaden our relationships with key customers. Our recently announced enhanced partnership with InFocus Corporation, the world's largest maker of presentation projectors, is a result of the implementation of this strategy.
``In general, we are encouraged by some of the positive indices we are seeing in the OEM sector. Specifically, we are now achieving design wins indicating to us a much stronger second half of the year,'' Mr. Thoben continued.
``The Home Entertainment market in the fourth quarter, while slow for companies focused on broadband opportunities, continued to be a bright spot for Interlink Electronics. We currently supply Microsoft with an integral patented component in the Xbox game controller. The Xbox has been hailed by the home entertainment industry as today's most advanced gaming platform. We are pleased to be contributing to its success and anticipate sales to remain strong as this product continues to roll out worldwide.
``While revenues from ePad product sales fell short of expectations in 2001, the fourth quarter ePad revenues were strong and there is clear evidence of momentum building in the market. Industry leaders such as Charles Schwab, Prudential, and Nuremberg Insurance have adopted ePad e-signature solutions to automate their customer forms processing. And recently, one of the world's largest automobile manufacturers similarly chose an ePad solution to automate its dealership leasing operations. As a slowing economy mandates cost-reduction measures in larger companies, the operational savings realized by a transition from paper to electronic documents will be a huge incentive, driving a worldwide transition to electronic documents and ePad e-signature solutions in 2002 and 2003.
``Operations finished the last quarter of the year using less than $500,000 in cash. Our balance sheet remains strong with $9.3 million in the bank and several unused lines of credit. We continued to invest in our key strategic business segments while at the same time streamlining our operations in the US and Japan to reduce costs. We also established a manufacturing logistics facility in Hong Kong, Interlink Electronics Asia Pacific (IEAP), to guarantee cost competitive `just in time' delivery to our customers. It is our belief these steps will begin to produce a positive bottom-line trend by the second half of 2002,'' concluded Mr. Thoben.
Summarized Consolidated Statements of Operations
(000s except per share data)
Three Months Twelve Months
Ended December 31, Ended December 31,
(unaudited)
2001 2000 2001 2000
Revenue $ 5,301 $ 9,303 $25,265 $33,870
Gross profit(1) 2,221 4,115 8,811 14,417
Operating expenses(2) 2,712 3,027 11,796 10,834
Operating income (loss) (491) 1,088 (2,985) 3,583
Cost of cancelled equity
offering - - - (638)
Other income (loss) 24 (81) 207 20
Provision for income tax
benefit - 524 764 143
Net income (loss) $ (467) $ 1,531 $(2,014) $ 3,108
Earnings (loss) per
share -- basic $ (0.05) $ 0.17 $ (0.21) $ 0.35
Earnings (loss) per
share -- diluted $ (0.05) $ 0.14 $ (0.21) $ 0.28
Weighted average
shares -- basic 9,759 9,179 9,645 8,892
Weighted average
shares -- diluted 9,759 10,986 9,645 11,130
(1) Includes $2 million excess inventory reserve adjustment in second
quarter, 2001.
(2) Includes $50,000 restructuring charge in 2nd quarter 2001 and
$300,000 adjustment to bad debt reserves in third quarter 2001.
Selected Consolidated Balance Sheet Data (000s)
December 31, December 31,
2001 2000
Cash and short term investments $ 9,325 $ 10,506
Working capital 20,634 23,128
Total assets 27,479 31,774
Long-term debt and
capital lease obligations 1,855 2,598
Stockholders' equity 21,143 22,433
About Interlink Electronics
Interlink Electronics, Inc., (Nasdaq:LINK - news), is the world's leading developer of intuitive interface technologies and solutions for business and home applications. Innovative products include interactive remote controls for business communications and broadband home entertainment markets, electronic signature solutions for network and Internet applications, and integrated computer pointing devices.
Interlink's Home Entertainment Business Unit develops and markets IntuiTouch broadband interface solutions to enable interactive TV services and a host of additional home electronics applications. Industry partners include Concero, PowerTV, Mediatti, Ncube, SNAP2, Tivella, Allwell, Vesta Broadband, and Integra5.
The company's E-Transactions business group provides ePad electronic signature solutions for commercial, Internet and retail electronic signature applications. Industry partners include Bluepoint Solutions, Cardiff, Communications Intelligence Corporation (CIC), RichSolutions Inc., Silanis Technologies, and Valyd Inc.
Finally, Interlink's Business Communications group designs interface solutions for a wide variety of business and home products, including those produced by Microsoft, Compaq, Sony, SANYO, NEC, Sharp, Toshiba, Pioneer, Mitsubishi and InFocus. Interlink Electronics, Inc. maintains offices in Camarillo, California; Tokyo, Japan; and Hong Kong and is available online at www.interlinkelectronics.com, or in Japan at www.interlinkelec.co.jp.
From time to time the Company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders, delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward looking statements contained in this document regarding revenue and customer order trends, market trends, new product introductions, future successes of new products, success of cost improvement programs and future business activities should be considered in light of these factors.
Live Conference Call Information
Thursday, February 14, 2002, 1:30 p.m. PT
Live Call Domestic Call In #: 888-566-5777
Live Call International Call In #: 312-470-0008
Live Call Verbal Pass Code: Interlink
Live Audio Web Cast: www.interlinkelectronics.com
Telephonic Replay available until February 21, 2002
Domestic Replay Call In #: 800-879-9147
International Replay #: 402-220-5352
Replay Web cast: www.interlinkelectronics.com
--------------------------------------------------------------------------------
Contact:
Interlink Electronics, Inc., Camarillo
Keith M. Roberts
kroberts@interlinkelectronics.com
Michelle Lockard (Investors)
mlockard@interlinkelectronics.com
805/484-1356
Fax: 805/484-8989
http://www.interlinkelectronics.com/
http://biz.yahoo.com/bw/020214/140366_1.html
Sara
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