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Interphase Announces First Quarter 2011 Financial Results

Interphase and the Interphase logo are trademarks or registered trademarks of Interphase Corporation. All other trademarks are the property of their respective owners.

Condensed Consolidated Financial Statements

Interphase Corporation
Condensed Consolidated Statements of Operations
(amounts in thousands, except per-share amounts)
Three Months Ended Mar. 31,
2011     2010
Revenues $ 6,688     $ 3,759
Gross margin 3,252 1,859
Research and development 1,032 2,093
Sales and marketing 1,004 1,260
General and administrative   985       1,004  
Total operating expenses 3,021 4,357
Income (loss) from operations 231 (2,498 )
Income (loss) before income tax 239 (2,530 )
Net income (loss) 231 (2,363 )
Net income (loss) per diluted share $ 0.03 $ (0.34 )
Weighted average common and dilutive shares 6,911 6,871
Selected Consolidated Balance Sheet Information
(amounts in thousands)
Mar. 31, 2011     Dec. 31, 2010
Cash and marketable securities $ 9,608 $ 10,777
Accounts receivable, net 6,011 4,633
Inventories 1,530 1,645
Net property, plant and equipment 381 414
Total assets 19,764 19,314
Total liabilities 8,047 8,304
Total shareholders' equity $ 11,717 $ 11,010

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