Interphase Corporation (NASDAQ:INPH) Hits New High on Strong 4Q Results

Interphase Corporation (NASDAQ:INPH) reported its fourth fiscal quarter financial results on Thursday. The Company announced its fourth fiscal quarter results, posting net income of $447,000, or 6 cents a share from a year ago loss of $4.0 million, or 57 cents a share. During the quarter, Revenue soared 24% year over year and 22% quarter over quarter to $5.8 million, from a year ago sales of $4.7 million and third quarter sales of $4.8 million. This increase in revenue is the results of increase in broadband telecom revenues from $3.9 million in the fourth quarter of 2009 to $5 million in the latest quarter. The enterprise revenues during the quarter increased 243% year over year to $552,000 from $161,000, while professional services revenues declined 70% year over year to $124,000 from $410,000. The Company reported fourth-quarter gross margin of 55%, compared with 37% reported in the same quarter last year. The year-over-year increase in gross margin was mainly due to a shift in product mix toward higher margin products; increased utilization of the company's manufacturing facility; and reduction in obsolete inventory charges. Shares of the company spike up by 54 cents or 13.17% and closed at $4.64 following the strong fourth fiscal quarter financial results on higher sales & gross margin. Volume of 2.54 million shares has been traded compared to the daily average of 0.108 million shares. The stock touched the new annual high of $5.24, its annual low being $1.17. The market capitalization of the stock stands at $31.68 million with beta of 0.70. Interphase Corporation (Interphase) and subsidiaries delivers embedded computing solutions for network connectivity, interworking, packet processing, long term evolution (LTE) and wireless-integrated multiple access (WiMAX) base station and security applications for the communications, aerospace/defense and enterprise markets. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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