Profits Slide at InterlinkMonday, May 13, 2013
Profits fell despite rising first-quarter revenue at Interlink Electronics Inc., a maker of sensor technology for touchpads, hand-held devices and other applications.
The Camarillo company reported net income of $70,000 (9 cents a share) for the quarter ended March 31, compared with $192,000 (26 cents) in the same period a year earlier. Revenue increased 7.7 percent to $1.8 million.
Chairman and Chief Executive Steven Bronson said the company completed restructuring during the quarter and now plans to ramp up manufacturing capacity.
“In order to properly fuel our growth strategy, we had to make measured, strategic investments in sales, marketing and business development resources and initiatives,” said Bronson, in a prepared statement.
Shares closed down 2 cents to $12 in trading on the Pink Sheets.