Interphase Announces Third Quarter 2011 Financial Results

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Condensed Consolidated Financial Statements

Interphase Corporation
Condensed Consolidated Statements of Operations
(amounts in thousands, except per-share amounts)
		Three Months Ended Sept. 30,										Nine Months Ended Sept. 30,
		2011				2010						2011				2010
Revenues		$	5,521			$	4,770					$	18,386			$	12,387
Gross margin			2,595				2,331						9,094				5,971
Research and development			923				1,605						2,971				5,516
Sales and marketing			834				1,103						2,710				3,634
General and administrative			753				950						2,767				2,908
Restructuring charge			-				3,339						-				3,339
Total operating expenses			2,510				6,997						8,448				15,397
Income (loss) from operations			85				(4,666	)					646				(9,426	)
Income (loss) before income tax			90				(4,666	)					661				(9,418	)
Net income (loss)			59				(4,292	)					607				(8,866	)
Net income (loss) per diluted share		$	0.01			$	(0.63	)				$	0.09			$	(1.30	)
Weighted average common and dilutive shares			7,182				6,830						7,125				6,844

Selected Consolidated Balance Sheet Information
(amounts in thousands)
		Sept. 30, 2011				Dec. 31, 2010
Cash and marketable securities		$	11,394			$	10,777
Accounts receivable, net			4,871				4,633
Inventories			1,535				1,645
Net property, plant and equipment			392				414
Total assets			19,447				19,314
Total liabilities			7,089				8,304
Total shareholders' equity		$	12,358			$	11,010

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