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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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