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Interlink Electronics Reports 2008 Second Quarter and First Half Results
CAMARILLO, CA (USA), August 13, 2008 — Interlink Electronics (OTC: LINK.PK), a worldwide provider of intuitive interface components and solutions, today announced results for the quarter and six-month period ended June 30, 2008.
Interlink reported total second quarter revenues of $6.7 million, up 76 percent from $3.8 million in the 2007 second quarter. Gross profit increased to $3.1 million from $1.3 million in the same quarter last year. The company’s operating loss was $972,000, down from $1.7 million in the second quarter of 2007; its net loss was $522,000, with a diluted loss per share of ($0.04), compared to a net loss of $2.2 million and a loss per share of ($0.13) in the same quarter last year. These results include charges for share-based compensation of $115,000 and $793,000 in the second quarters of 2008 and 2007, respectively.
“We made progress on all fronts,” said John Buckett, Interlink chairman and interim CEO. “Revenues were up substantially in both our eTransactions and Specialty Components business segments, gross margins improved and our operating loss for the second quarter of 2008 was cut almost in half compared to the second quarter of 2007. We are continuing to improve in terms of cash flow and profitability. With our recent cost reductions, better execution, and continued revenue growth, we should be in a position to be cash-flow positive by year end.”
Interlink reported total revenues for the first six months of 2008 of $12.5 million, up 56 percent from $8.0 million in the same period in 2007. Gross profit increased to $5.0 million from $3.1 million the first six months of last year. The company’s operating loss was $3.7 million, compared to $3.1 million in the 2007 six-month period; its net loss was $2.6 million, with a loss per share of (0.19), down from a net loss of $4.7 million and a loss per share of ($0.23) in the same period last year. These results include charges for share-based compensation of $847,000 and $1,074,000 in the first half of 2008 and 2007, respectively.
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About Interlink Electronics, Inc.
Interlink Electronics, Inc. (OTC: LINK.PK), is a global leader in the design, development and manufacture of intuitive human interface products and technologies. Setting tomorrow’s standards for electronic signature, e-notarization products and interface components for consumer electronics, Interlink has established itself as one of the world’s leading innovators of intuitive interface design. With more than 41 patents around the world protecting its technologies and products, Interlink Electronics serves a world-class customer-base from its corporate headquarters in Camarillo, California and offices in Japan, Hong Kong and China. For more information, see http://www.interlinkelectronics.com.
This release contains forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: historical losses and negative cash flow, the retirement of our Chief Executive Officer, the success of business divestitures and acquisitions, the expense of being a public company, the ownership of the majority of our stock by a small group of investors, our success in predicting new markets and the acceptance of our new products, efficient management of our infrastructure, the pace of technological developments and industry standards evolution and their effect on our target product and market choices, the effect of outsourcing technology development, changes in the ordering patterns of our customers, a decrease in the quality and/or reliability of our products, protection of our proprietary intellectual property, competition by alternative sophisticated as well as generic products, pending litigation against the Company, historical weaknesses in internal controls over financial accounting, the continued availability at competitive prices of raw materials for our products, disruptions in our manufacturing facilities, risks of international sales and operations including fluctuations in exchange rates, compliance with regulatory requirements applicable to our manufacturing operations, and customer concentrations. These risks are discussed in greater detail in our quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this document regarding Interlink’s financial results, industry and revenue trends, the filing of reports with the Securities and Exchange Commission and future business activities should be considered in light of these factors.
Contact:
Investor Relations Contact:
Charles Best
cbest@interlinkelectronics.com;
805-484-8855 ext. 151
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