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In a release on April 20, Interlink reported total revenues for the fiscal year ended December 31, 2008 of $25.6 million, up 33 percent from $19.3 million in the same period in 2007. Gross profit increased to $10.2 million, or 40 percent of revenues for the 2008 fiscal year from $5.8 million, or 30 percent or revenues for the 2007 fiscal year.
The company said its operating loss was $4.5 million for the 2008 fiscal year compared to an operating loss of $8.5 million for the 2007 fiscal year. These results include charges for share-based compensation of $655,000 and $2,242,000 in the 2008 and 2007 fiscal years, respectively. Interlink's net loss for the year ended December 31, 2008 was $3.3 million, with a basic and diluted loss per share of ($0.24), compared to a net loss of $5.7 million, with a basic and diluted loss per share of ($0.41), for the year ended December 31, 2007. The 2007 fiscal year numbers include a $5.9 million gain, or earnings per share of $0.43, from the sale of assets.
Interlink reported total fourth quarter revenues of $5.9 million, down 11 percent from $6.7 million in the fourth quarter of 2007. However, gross profit increased to $2.0 million from $1.6 million in the same quarter last year. Interlink's operating loss for the fourth quarter of 2008 was $818,000, compared to a $2.2 million operating loss in the fourth quarter of 2007. These results include charges (reductions) for share-based compensation of ($336,000) and $471,000 in the fourth quarters of 2008 and 2007, respectively. Interlink's net loss in the fourth quarter of 2008 was $802,000, with a basic and diluted loss per share of ($0.06), compared to a net loss of $2.6 million with a basic and diluted loss per share of ($0.19) in the same quarter last year.
"In 2008 we saw revenue growth, improved gross margins and reduced operating losses when compared to 2007," noted Kevin Wiley, Interlink CEO. "We continue to look at ways to increase our value, be it by better aligning costs with revenues or through various strategic alternatives. We are still taking hard looks at the cost structures of our eTransactions and Specialty Components business segments and will make adjustments where necessary."
Interlink Electronics is a provider of interface components and solutions.
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