Revenue and earnings fell in the third quarter for Interlink Electronics Inc.
The Westlake Village sensor technology manufacturer reported net income of $458,000 (8 cents a share) for the quarter ending Sept. 30, compared with $477,000 (8 cents) in the same period last year. Revenue decreased 10 percent to $2.6 million.
Interlink Chief Executive Steven Bronson said the company made progress during the quarter on its growth strategy, which is centered on graphics-based interfacing between machines and users. The automotive market in particular was of importance as longer production cycles can generate higher unit sales per design win, he added.
“In fact, we have secured design wins and orders with several existing customers for second-generation installations of our technology,” Bronson said in a prepared statement. “These expanding relationships validate the superior performance, reliability and desirability of Interlink products.”
Interlink reported its earnings after market close Wednesday. Shares closed Thursday up 30 cents, or nearly 4 percent, to $8.30 in over-the-counter trading.
NetSol Technologies Inc. reported a net loss for the quarter ended Sept. 30, but beat Wall Street expectations on revenue.
The Calabasas company, which makes vehicle lease-management software for auto dealers and lenders, reported a net loss of $411,000 (-4 cents a share), compared with a net loss of $1.8 million (-20 cents a share) in the same period a year earlier. Revenue increased 30 percent to $13.3 million.
The one analyst who follows the company expected a net loss of 12 cents on revenue of $11.95 million, according to Thomson Financial Network.
Chief Executive Najeeb Ghauri said the financial results are a success, especially considering that this quarter is typically the slowest of the year. Ghauri said new contracts in China and continued support from current customers fueled the quarter’s results.
"Given the strength of our global new business pipeline, we expect our growth trajectory to continue," Ghauri said in a prepared statement.
Shares closed down 15 cents or 2.6 percent to $5.66 on the Nasdaq.
Talon International Inc. swung to a loss in the third quarter and missed analyst estimates on revenue, which it attributed to a decline in mass merchandising customers and weak apparel trends.
The Woodland Hills manufacturer of zippers and apparel accessories reported a net loss of $90,353 (0 cents a share) in the quarter ended Sept. 30, compared to net income of $57,086 (0 cents) in the same quarter last year. Sales fell $1.8 million, or 15 percent, to $10 million.
The single analyst that follows Talon expected revenue of $13 million, according to Thomson Financial Network.
“Lower sales this quarter principally reflected continued weakness within the mass merchandising customers with our Talon Zipper product sales and selected specialty retail brand customers,” said Larry Dyne, Talon chief executive, in a prepared statement. “This marks a continuation of the general weakness in apparel retail trends which began in the second quarter of 2014 and which have continued throughout much of 2015.”
Talon said the decline in sales this quarter was offset by lower manufacturing support costs and improved product mix. He added that, while sales declined, the company’s trim product sales are stable and it is confident in the growth of its Tekfit stretch technology products, which were recently incorporated in dress shirts that PVH Corp. is shipping to retailers.
Shares closed up less than a cent or 21 percent to 20 cents on the over-the-counter market.