Business
Interlink Electronics Reports Fourth Quarter and Full Year 2019 Results
CAMARILLO, Calif., May 15, 2020 /PRNewswire/ -- Interlink Electronics, Inc. (OTC: LINK), a world-leading trusted advisor and technology partner in the
About this update from Interlink Electronics, Inc.
[{"type":"text","content":"CAMARILLO, Calif., May 15, 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 fourth quarter and full-year 2019. GAAP net loss for the full-year 2019, was $(457) thousand or $(0.07) per share, reflecting a decrease of $(1,079) thousand over the prior year's results. GAAP net loss in the fourth quarter of 2019 was $(363) thousand versus a $46 thousand profit reported in the fourth quarter of 2018. \nConsolidated Financial Highlights \n(Amounts in thousands except per share data and percentages) \nThree months ended December 31, \nYear ended December 31, \nConsolidated Financial Results\n2019\n2018\n$ ∆\n% ∆\n2019\n2018\n$ ∆\n% ∆\nNet revenue\n$\n1,692\n$\n1,728\n$\n(36)\n(2.1)\n%\n$\n7,305\n$\n8,904\n$\n(1,599)\n(18.0)\n%\nGross profit\n$\n476\n$\n897\n$\n(421)\n(46.9)\n%\n$\n3,310\n$\n4,904\n$\n(1,594)\n(32.5)\n%\nGross margin\n28.1\n%\n51.9\n%\n45.3\n%\n55.1\n%\nIncome(loss) from Operations\n$\n(445)\n$\n(2)\n$\n(443)\nN/A\n$\n(214)\n$\n750\n$\n(964)\nN/A\nNet income (loss)\n$\n(363)\n$\n46\n$\n(409)\nN/A\n$\n(457)\n$\n622\n$\n(1,079)\nN/A\nEarnings per share (basic and diluted)\n$\n(0.06)\n$\n0.01\n$\n(0.07)\n$\n0.09\nEBITDA\n$\n(397)\n$\n73\n$\n(470)\nN/A\n$\n37\n$\n999\n$\n(962)\n(96.3)\n%\nEBITDA margin¹\n(23.5)\n%\n4.2\n%\n0.5\n%\n11.2\n%\n1\nEBITDA margin is EBITDA divided by net revenue.\n \nRevenue in the fourth quarter of 2019 decreased approximately 2%. For the full-year 2019, revenue decreased approximately 18% to $7.3 million from $8.9 million in the comparable period of 2018. Revenues were down in all categories except medical. Gross margins were impacted by tariffs imposed on our China manufactured items imported to our domestic operations where we are unable to pass along those costs. In addition, start-up costs for moving our domestic manufacturing for our medical customer to our China operations increased our costs in the short term. In the fourth quarter of 2019, the Company incurred a net loss of $(363) thousand or $(0.06) per share compared to a net profit of $46 thousand or $0.01 per share in the comparable period of 2018. For the full year, the net loss was $(457) thousand or $(0.07) per basic and diluted shar...