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Interphase Announces 2011 Full Year And Fourth Quarter 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 Dec. 31, Twelve Months Ended Dec. 31,
  2011     2010   2011     2010  
Revenues $ 3,607 $ 5,820 $ 21,993 $ 18,207
Gross margin 1,437 3,216 10,531 9,187
Research and development 843 1,056 3,814 6,572
Sales and marketing 788 878 3,498 4,512
General and administrative 762 935 3,529 3,843
Restructuring charge   -     -   -     3,339  
Total operating expenses 2,393 2,869 10,841 18,266
(Loss) income from operations (956 ) 347 (310 ) (9,079 )
(Loss) income before income tax (949 ) 362 (288 ) (9,056 )
Net (loss) income (1,112 ) 447 (505 ) (8,419 )
Net (loss) income per diluted share $ (0.16 ) $ 0.06 $ (0.07 ) $ (1.23 )
Weighted average common and dilutive shares 6,895 6,915 6,857 6,839
 
Selected Consolidated Balance Sheet Information
(amounts in thousands)
   
Dec. 31, 2011 Dec. 31, 2010
Cash and marketable securities $ 11,825 $ 10,777
Accounts receivable, net 2,998 4,890
Inventories 1,556 1,645
Net property, plant and equipment 369 414
Total assets 17,818 19,314
Total liabilities 6,476 8,304
Total shareholders' equity $ 11,342 $ 11,010




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