Interlink net income grows on higher revenues
Story updated at 11 a.m. March 6:
Interlink Electronics reported a 67 percent year-over-year increase in net income March 3, bringing in $924,000 for the fourth quarter 2016 and $2.89 million for the year.
Revenues were almost flat to the fourth quarter of 2015 at $2.78 million, while fiscal year revenues increased 13 percent to $11.89 million, primarily driven by a 69 percent increase in income from operations.
Expenses for the company, which designs force-sensing and human-machine interface products in Westlake Village, increased 12.5 percent for the quarter but only 5 percent for the year, reaching $4.16 million, compared to $3.96 million in fiscal year 2015.
“We remain focused on cost management, earnings growth and strategic acquisitions, as well as significant commitments to drive organic growth by investing in a larger (research and development) footprint in order to expand our intellectual property portfolio,” CEO Steven Bronson said in a news release, adding that the company is expanding its sales geographically.
The company had cash and cash equivalents of $6 million as of Dec. 31, up from $4.4 million in 2015, with total liabilities of $873,000, down from $899,000 in 2015.
• Contact Marissa Nall at [email protected].
