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Interphase Announces Second 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 Jun. 30, Six Months Ended Jun. 30,
2011   2010     2011   2010
Revenues $ 6,177 $ 3,858 $ 12,865 $ 7,617
Gross margin 3,247 1,781 6,499 3,640
Research and development 1,016 1,818 2,048 3,911
Sales and marketing 872 1,271 1,876 2,531
General and administrative   1,029     954     2,014     1,958  
Total operating expenses 2,917 4,043 5,938 8,400
Income (loss) from operations 330 (2,262 ) 561 (4,760 )
Income (loss) before income tax 332 (2,222 ) 571 (4,752 )
Net income (loss) 317 (2,211 ) 548 (4,574 )
Net income (loss) per diluted share $ 0.04 $ (0.32 ) $ 0.08 $ (0.67 )
Weighted average common and dilutive shares 7,139 6,832 7,097 6,851
 
 
Selected Consolidated Balance Sheet Information
(amounts in thousands)
   
Jun. 30, 2011   Dec. 31, 2010
Cash and marketable securities $ 11,239 $ 10,777
Accounts receivable, net 5,045 4,633
Inventories 1,524 1,645
Net property, plant and equipment 371 414
Total assets 19,683 19,314
Total liabilities 7,524 8,304
Total shareholders' equity $ 12,159 $ 11,010




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