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Friday, Jul 12, 2024

Interlink Electronics Reports Fourth-Quarter Loss

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.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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