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Interphase Announces Third Quarter 2012 Financial Results

Interphase, the Interphase logo, and penveu 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,
2012     2011       2012     2011
Revenues $ 3,167   $ 5,521 $ 10,651   $18,386
Gross margin 1,464 2,595 4,890 9,094
Research and development 690 923 2,476 2,971
Sales and marketing 658 834 2,700 2,710
General and administrative 648     753 2,319     2,767
Total operating expenses 1,996 2,510 7,495 8,448
(Loss) income from operations (532 ) 85 (2,605 ) 646
(Loss) income before income tax (532 ) 90 (2,592 ) 661
Net (loss) income (541 ) 59 (2,592 ) 607
Net (loss) income per diluted share $ (0.08 ) $ 0.01 $ (0.37 ) $0.09
Weighted average common and dilutive shares 7,000 7,182 6,965 7,125
Selected Consolidated Balance Sheet Information
(amounts in thousands)
Sept. 30, 2012             Dec. 31, 2011
Cash and marketable securities $ 9,256 $ 11,825
Accounts receivable, net 2,507 2,998
Inventories 2,443 1,556
Net property, plant and equipment 368 369
Total assets 15,677 17,818
Total liabilities 5,600 6,476
Total shareholders' equity $ 10,077 $ 11,342

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