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Interphase Announces Third 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 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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