Earnings: Interlink Electronics, Second Sight

Interlink Electronics Inc. lowered its revenue and earnings in the first quarter. The Westlake Village sensor technology company reported net income of $118,000 (2 cents a share) on revenue of $2.6 million for the quarter ending March 31. That compares to net income of $364,000 (5 cents) on revenue of $2.9 million in the same period a year earlier. No analysts follow the company. In a release, the company attributed the 11 percent drop in revenue to the loss of a major customer who implemented a design change to their automotive product. Still, Chief Executive Steven Bronson was confident that the company was on the path to long-term growth despite the loss of the customer. “Demand in other markets continues to be strong, and we are prepared to capitalize on them,” Bronson said in a statement. “For example, our recent attainment of ISO 13485 Certification has exciting implications for sensor technology development in the medical device market.” The quarterly results were released Wednesday. On Thursday, shares of Interlink (LINK) closed down 24 cents, or nearly 5 percent, to $4.71 on the Nasdaq. Second Sight Medical Products Inc. reported widening loss on flat revenue during the first quarter. The Sylmar medical device firm, which has developed a prosthetic retina that can restore a form of vision in blind patients, had a net loss of $9.8 million (-17 cents a share) during the quarter ended March 31, compared to a net loss of $7.5 million (-16 cents) in the same quarter a year ago. No analysts follow the company. Revenue in the quarter totaled $1 million, the same as a year ago. In both quarters, the company implanted nine of its Argus II devices. The company attributed its widening losses to larger expenses for research and development, regulatory matters and sales. Shares of Second Sight (EYES) closed Thursday down 11 cents, or 5.4 percent, to $1.93 on the Nasdaq.