Interlink Electronics Reports Third Quarter 2021 Results

About this update from Interlink Electronics, Inc.

[{"type":"text","content":"Revenue For the Quarter Increased 44% From the Prior Year Quarter\n\n\nIRVINE, Calif., Nov. 4, 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 September 30, 2021. Revenue for the quarter was $2.2 million, up 44% from the prior year period, and sequentially up 8% from the previous quarter. Gross margin was 58% for the quarter. \n\n \n \n \n \n \n \n\n \nConsolidated Financial Highlights \n(Amounts in thousands, except per share data and percentages)\nConsolidated Financial Results\nThree months ended September 30, \nNine months ended September 30, \n2021\n2020\n$ ∆\n% ∆\n2021\n2020\n$ ∆\n% ∆\nRevenue\n$\n2,223\n$\n1,548\n$\n675\n43.6\n%\n$\n5,855\n$\n4,941\n$\n914\n18.5\n%\nGross profit\n$\n1,292\n$\n811\n$\n481\n59.3\n%\n$\n3,293\n$\n2,768\n$\n525\n19.0\n%\nGross margin\n58.1\n%\n52.4\n%\n56.2\n%\n56.0\n%\nIncome (loss) from operations\n$\n259\n$\n(79)\n$\n338\n$\n332\n$\n(110)\n$\n442\nNet income\n$\n223\n$\n65\n$\n158\n$\n243\n$\n60\n$\n183\nEarnings per share – diluted\n$\n0.03\n$\n0.01\n$\n0.02\n$\n0.04\n$\n0.01\n$\n0.03\n \nRevenue in the third quarter of 2021 increased 44% to $2.2 million from $1.5 million in the same year–ago period, primarily due to higher demand for our custom products in the industrial and medical markets, and also for our standard products. Revenue for the 2021 year-to-date period increased 18% to $5.9 million from $4.9 million last year, due to increased purchase levels across all the markets we serve. Increases in purchase volume by our industrial and consumer market customers was due to an increase in demands on corresponding products and programs, while increased demand in the medical market was a reflection of the pandemic-impacted levels in the prior year.Gross margin increased to 58.1% in the current quarter from 52.4% in the year–ago quarter, which was positively impacted by changes in product and customer mix. Gross margin for the current year-to-date period was relatively unchanged from the prior year.Income from operations was $259 thousand for the third quarter of 2021, compared with loss of $79 thousand in the same period in 2020. Operating income was impacted by ...

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