Interlink Electronics, an Irvine-based sensor manufacturer with its primary research and development facility in Camarillo, reported rising revenue and net income for the third quarter of 2021.
Interlink saw revenue rise 44% as the company generated $2.2 million for the quarter ended Sept. 30, according to a Nov. 4 quarterly report. The company attributed the growth to higher demand for custom products in the industrial and medical markets.
Similarly, the company’s revenue was up 8% sequentially from the second quarter of 2021.
Gross margin for the quarter also grew to 58.1%, about a 6% increase from the same quarter a year ago.
Net income was at $223,000, or an earnings per share of 3 cents, during the third quarter, up from $65,000, or 1 cent per share, the previous year.
Shares of Interlink Electronics closed at $8.82 on Nov. 5, 3 cents below the previous day’s closing price and 4 cents above the day’s opening price.
“We delivered strong third-quarter results, and we continue to build on our sales growth for 2022,” Steven N. Bronson, President and CEO of Interlink Electronics, said in a statement.
“We are committed to pursuing acquisition opportunities to accelerate our growth and to diversify our products and customers. Our goal is to transform from solely a sensor organization to a diversified global technology company consisting of sensors, test & measurement, engineering services, and specialty manufacturers of precision components and solutions.”
Interlink ended the quarter with $6.6 million in cash and cash equivalents.