Business
Interlink Electronics Reports Second Quarter 2024 Results
IRVINE, Calif., Aug. 8, 2024 /PRNewswire/ -- Interlink Electronics, Inc. (Nasdaq: LINK), a world-leading provider of sensors and printed electronic solutions
About this update from Interlink Electronics, Inc.
[{"type":"text","content":"IRVINE, Calif., Aug. 8, 2024 /PRNewswire/ -- Interlink Electronics, Inc. (Nasdaq: LINK), a world-leading provider of sensors and printed electronic solutions that support a wide range of applications including Human-Machine Interface devices and Internet-of-Things solutions, today announced its financial results for the three- and six-month periods ended June 30, 2024.\n\n \n \n \n \n \n \n\n \nRevenue for the quarter was approximately $2.9 million, down 28% from the prior year period due to lower shipments of our traditional force-sensor products and gas-sensor products, offset in part by higher sales of our membrane keypads, graphic overlays, printed electronics and industrial label products at our Calman Technology Limited subsidiary, acquired in March 2023. The change in our sales and product mix impacted our gross margin, which was 45.0% for the current quarter compared to 50.9% in the prior-year quarter.\nThe following table sets forth the consolidated financial highlights.\nConsolidated Financial Highlights\n(Amounts in thousands except per share data and percentages)\nConsolidated Financial Results\nThree Months Ended June 30, \nSix Months Ended June 30, \n2024\n2023\n$ ∆\n% ∆\n2024\n2023\n$ ∆\n% ∆\nRevenue\n$\n2,898\n$\n4,049\n$\n(1,151)\n(28.4)\n%\n$\n6,022\n$\n7,327\n$\n(1,305)\n(17.8)\n%\nGross profit\n$\n1,305\n$\n2,061\n$\n(756)\n(36.7)\n%\n$\n2,558\n$\n3,648\n$\n(1,090)\n(29.9)\n%\nGross margin\n45.0\n%\n50.9\n%\n42.5\n%\n49.8\n%\nIncome (loss) from operations\n$\n(313)\n$\n406\n$\n(719)\n$\n(1,064)\n$\n233\n$\n(1,297)\nNet income (loss)\n$\n(307)\n$\n381\n$\n(688)\n$\n(1,048)\n$\n190\n$\n(1,238)\nNet income (loss) applicable to common stockholders\n$\n(407)\n$\n281\n$\n(688)\n$\n(1,248)\n$\n(10)\n$\n(1,238)\nEarnings (loss) per common share – diluted\n$\n(0.04)\n$\n0.03\n$\n(0.07)\n$\n(0.13)\n$\n0.00\n$\n(0.13)\nAdjusted EBITDA\n$\n(80)\n$\n579\n$\n(659)\n$\n(588)\n$\n452\n$\n(1,040)\nRevenue for the second quarter of 2024 decreased 28% to $2.9 million from $4.0 million for the same quarter last year, and decreased 18% to $6.0 million for the first half of 2024 compared to $7.3 million for the first half of 2023, due primarily to lower shipments of our traditional force-sensor products and gas-sensor products, offset in part by the inclusion of sales of our printed electronics products at our Calman Technology su...