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Interlink reports profitable 2020

By   /   Tuesday, March 16th, 2021  /   Comments Off on Interlink reports profitable 2020

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Interlink electronics, a sensor tech manufacturer with major operations in Camarillo, reported rising net income on March 16 for the fourth quarter and full year of 2020.

Net income for the fourth quarter was at $53,000, or 1 cent per share, a better mark than the same quarter of 2019, when Interlink reported a loss of $353,000. Interlink moved its headquarters from Camarillo to Irvine in the summer of 2020 but kept its Camarillo facility as its research and development hub.

For the full year, Interlink had a net income of $113,000, or 2 cents per share. In 2019, the company suffered a net loss of $457,000. 

Revenue in the final quarter of 2020 was at $1.9 million, a 15.1% increase from the same quarter a year before. For the full year, Interlink saw a slight decrease in net revenue, from $7.3 million in 2019 to $6.8 million in 2020.

Interlink ended the year with $6.1 million in cash and cash equivalents.

“Despite constant uncertainty throughout the manufacturing industry due to COVID-19, we were still able to return to profitability in 2020. This is a tremendous testament to the growth plans we have in place,” Interlink CEO Steven N. Bronson said in a company news release.

Interlink’s stock was down 2% after the earnings release, with shares hovering around $14.20 during the trading day on March 16. 

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