Interlink Electronics Inc. reported a net loss and a decrease in revenue in the fourth quarter.
The Camarillo force sensor product manufacturer reported on Friday a net loss of $363,000 (-6 cents a share) for the quarter ending Dec. 31, compared with net income of $46,000 (1 cent) in the same period a year earlier. Revenue dropped by 2 percent to $1.7 million.
No analysts follow the company.
Chief Executive Steven Bronson said the company is seeing an impact from the COVID-19 outbreak across most of the industries it serves, with the exception of medical products. Also, tariffs continue to be a drag on products made in China, he added.
Despite these headwinds, Interlink continues to move forward with a strategy to expand into Internet-of-Things sensor technologies and to build out its global sales and marketing teams with key hires and strategic global partners.
“We remain committed to investing in R&D to drive new product development to meet market and customer demands, and we feel we will be well positioned when our customers’ business cycles begin to normalize,” Bronson said in a statement.
Additionally, the company expects to file a Form 10 in June in anticipation of pursuing a listing on a national market or exchange, he said. In January 2019, Interlink voluntarily delisted from the Nasdaq to save costs associated with reporting.
Shares of Interlink (LINK) closed down Friday 8 cents, or about 1.5 percent, to $5.20 on the over-the-counter market.