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Interlink reports rising revenue and income for Q3

By   /   Friday, November 5th, 2021  /   Comments Off on Interlink reports rising revenue and income for Q3

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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.

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