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Interlink Electronics Reports Second Quarter 2021 Results
Revenue Increased By 32% Sequentially From Previous Quarter IRVINE, Calif., Aug. 10, 2021 /PRNewswire/ -- Interlink Electronics, Inc. (NASDAQ: LINK), an
About this update from Interlink Electronics, Inc.
[{"type":"text","content":"Revenue Increased By 32% Sequentially From Previous Quarter\n\n\nIRVINE, Calif., Aug. 10, 2021 /PRNewswire/ -- Interlink Electronics, Inc. (NASDAQ: LINK), an industry-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 months ended June 30, 2021. Net revenue for the quarter was $2.1 million, up 21% from the prior year period, and sequentially up 32% from the previous quarter. Gross margin was 55% for the quarter. \n\n \n \n \n \n \n \n\n \nConsolidated Financial Highlights \n(Amounts in thousands except per share data and percentages)\nThree months ended June 30, \nSix months ended June 30, \nConsolidated Financial Results\n2021\n2020\n$ ∆\n% ∆\n2021\n2020\n$ ∆\n% ∆\nNet revenue\n$\n2,064\n$\n1,702\n$\n362\n21.3\n%\n$\n3,632\n$\n3,393\n$\n239\n7.0\n%\nGross profit\n$\n1,127\n$\n998\n$\n129\n12.9\n%\n$\n2,001\n$\n1,957\n$\n44\n2.2\n%\nGross margin\n54.6\n%\n58.6\n%\n55.1\n%\n57.7\n%\nIncome (loss) from operations\n$\n133\n$\n41\n$\n93\nnm\n$\n73\n$\n(31)\n$\n104\nnm\nNet income (loss)\n$\n63\n$\n13\n$\n50\nnm\n$\n20\n$\n(5)\n$\n25\nnm\nEarnings (loss) per \nshare – diluted\n$\n0.01\n$\n0.00\n$\n0.01\nnm\n$\n0.00\n$\n(0.00)\n$\n0.00\nnm\n \nRevenue in the second quarter of 2021 increased 21% to $2.1 million from $1.7 million in the same year–ago period, primarily due to higher demand for our custom products in the consumer and medical markets. Increases in product volume in the consumer market was due to an increase in our customers' demands and purchases on corresponding products and programs, while increased demand in the medical market was partly a reflection of the pandemic-impacted levels in the prior year.Gross margin decreased to 54.6% in the current quarter from 58.6% in the year–ago quarter. Gross margin is impacted by the mix of products and customers, and production costs.Income from operations was $133 thousand for the second quarter of 2021, compared with $41 thousand in the same period in 2020. Operating income was impacted by higher gross profit on higher revenues, offset partially by higher selling, general and administrative expenses associated with continued strategic investments in personnel and operational and administrative infrastructure.In the second quarter of 2021, after–ta...