INTERLINK ELECTRONICS INC 10-Q Report
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Interlink Electronics Inc., a leading provider of force-sensing technology solutions, has released its Form 10-Q report for the latest quarter. The report highlights the company's financial performance and operational activities amidst challenging market conditions.
Financial Highlights
- Revenue, net: $2.671 million, decreased by 13.1% compared to the same period last year due to lower demand from certain larger force-sensor customers in the medical and industrial markets.
- Gross profit: $1.105 million, representing a gross margin of 41.4%, down from 47.4% in the prior year period, primarily due to lower revenues and changes in product and customer mix.
- Income (loss) from operations: $(0.476) million, reflecting a negative operating margin of 17.8%, compared to a loss of $(0.092) million in the prior year period.
- Net income (loss): $(0.523) million, with a net loss margin of 19.6%, compared to a net loss of $(0.125) million in the prior year period.
- Earnings (loss) per common share, basic and diluted: $(0.06), compared to $(0.02) in the prior year period.
Business Highlights
- Revenue Segments: The company experienced a decline in revenues across the medical and industrial markets, with a slight increase in the consumer market for custom products. Standard product sales saw a marginal increase, indicating a shift in customer demand and market focus.
- Geographical Performance: The United States remains a significant market, although revenues have decreased compared to the previous year. Asia and the Middle East, as well as Europe, also saw declines in revenue, reflecting broader market challenges and potential delays in order fulfillment.
- Future Outlook: Management anticipates continued challenges in the medical and industrial markets but remains optimistic about potential growth opportunities in standard products and new customer segments. The company plans to explore strategic relationships to support growth initiatives.
SEC Filing: INTERLINK ELECTRONICS INC [ NASDAQ:LINK ] - 10-Q - Nov. 07, 2024