Exhibit 99.1

INTRICON REPORTS SECOND QUARTER 2019 RESULTS

ARDEN HILLS, Minn. — August 6, 2019 — IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, today announced financial results for its second quarter ended June 30, 2019.

Recent Highlights:

● Quarterly revenue of $29.3 million

o Revenue from largest medical customer grew 3.7% year-over-year

● Gross margin of 28%

● Net loss per diluted share of $0.57 versus net income of $0.25 per diluted share in the 2018 second quarter

● Signed four-year Supply Agreement with largest Medical customer

● Repositioned hearing aid sales in the UK through new distribution agreement with Puretone Ltd. and sold accessory business assets of its UK Limited subsidiary

“Over the past several quarters, we have taken important steps towards best positioning our business for the growth opportunities we see emerging in Medical Biotelemetry and Hearing Health, including bolstering our leadership team, expanding our manufacturing facilities, and realigning certain areas of our hearing health business. Our recent restructuring efforts will have a substantial effect on our bottom line, while at the same time allowing us to focus resources on new growth opportunities,” said Mark Gorder, president and chief executive officer of IntriCon. “We remain confident in our ability to achieve our long-term goals and secure our position as the partner of choice in micro-miniature device production.”

Second Quarter 2019 Financial Results 

For the 2019 second quarter, the company reported net revenue of $29.3 million versus $29.4 million in the comparable prior-year period. Revenue excludes contributions from the discontinued operations of its UK Limited subsidiary.

Revenue in IntriCon’s Medical business in the second quarter of 2019 was $20.9 million, an increase from $20.2 million in the comparable prior-year period. Growth was driven primarily by sales to diabetes and medical coil customers.

Hearing Health revenue was $6.7 million in the second quarter of 2019 compared to $7.7 million in the prior-year second quarter. The revenue decline during the quarter was largely attributed to order delays associated with restructuring activity within a large insurance customer’s hearing health business that are expected to continue through the remainder of 2019.

(more)

Gross margin in the second quarter of 2019 was 28%, down from 33% in the prior-year second quarter. Gross margins were constrained by ongoing validation and qualification expense and excess capacity related to the recent manufacturing expansion to meet the anticipated higher volume requirements of our existing and future customers.

Operating expenses for the second quarter were $11.6 million, compared to $6.7 million in the comparable prior-year period. The increase stemmed from the $3.8 million write-off of Hearing Help Express goodwill and intangible assets, higher non-cash stock compensation expense, increased advertising investments in our Direct-to-End-Consumer business and support costs related to key new business development initiatives.

The company posted a net loss of approximately $5.0 million or $0.57 per diluted share in the second quarter of 2019, versus net income of approximately $2.0 million or $0.25 per diluted share, for the 2018 second quarter. The company reported a second-quarter net loss from continuing operations of $3.5 million, or $0.40 per diluted share, which includes the Hearing Help Express goodwill and intangible asset write-off of approximately $3.8 million, or $0.43 per diluted share.

2019 Guidance 

As previously announced, IntriCon revised its guidance for the full year 2019. The company anticipates revenue in the range of $115 million to $117.5 million and gross margins in the range of 27% to 28.5% for the full year 2019.

Conference Call  

IntriCon’s management team will hold a conference call today, Tuesday, August 6, 2019, beginning at 4:00 p.m. CT / 5:00 p.m. ET. Investors interested in listening to the conference call may do so by dialing (866) 795-7248 for domestic callers or (470) 495-9160 for international callers, using conference ID: 5294699. A live and archived webcast will be available on the “Investors” sections of the company’s website at: www.IntriCon.com.

Forward-Looking Statements
Statements made in this release and in IntriCon’s other public filings and releases that are not historical facts or that include forward-looking terminology, including estimates of future results, are “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be affected by known and unknown risks, uncertainties and other factors that are beyond IntriCon’s control, and may cause IntriCon’s actual results, performance or achievements to differ materially from the results, performance and achievements expressed or implied in the forward-looking statements. These risks, uncertainties and other factors are detailed from time to time in the company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2018. The company disclaims any intent or obligation to publicly update or revise any forward-looking statements, regardless of whether new information becomes available, future developments occur or otherwise.

(more)

About IntriCon Corporation
Headquartered in Arden Hills, Minn., IntriCon Corporation designs, develops and manufactures miniature and micro-miniature body-worn devices. These advanced products help medical, healthcare and professional communications companies meet the rising demand for smaller, more intelligent and better-connected devices. IntriCon has facilities in the United States, Asia, and Europe. The company’s common stock trades under the symbol “IIN” on the NASDAQ Global Market. For more information about IntriCon, visit www.intricon.com.

Investor Contact
Leigh Salvo
(415) 937-5404 
investorrelations@intricon.com

(more)

INTRICON CORPORATION

MARKET REVENUE

(Unaudited)

	SECOND QUARTER						YEAR TO DATE
($ in 000’s)		2019		2018	Change			2019		2018	Change
Medical	$	20,892	$	20,198	3.4	%	$	41,685	$	36,131	15.4	%
Diabetes		17,950		17,307	3.7	%		35,114		30,869	13.8	%
Other Medical		2,942		2,891	1.8	%		6,571		5,262	24.9	%
Hearing Health		6,675		7,730	-13.6	%		13,685		14,546	-5.9	%
Value Based Direct-to-End-Consumer		1,736		2,052	-15.4	%		3,366		3,837	-12.3	%
Value Based Indirect-to-End-Consumer		2,399		2,634	-8.9	%		4,976		4,608	8.0	%
Legacy OEM		2,540		3,044	-16.6	%		5,343		6,101	-12.4	%
Professional Audio Communications		1,769		1,520	16.4	%		3,536		3,349	5.6	%
Total	$	29,336	$	29,448	-0.4	%	$	58,906	$	54,026	9.0	%

(more)

INTRICON CORPORATION

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Amounts)

	Three Months Ended						Six Months Ended
	June 30,			June 30,			June 30,			June 30,
	2019			2018			2019			2018
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Revenue, net	$	29,336		$	29,448		$	58,906		$	54,026
Cost of goods sold		21,121			19,727			42,133			36,202
Gross profit		8,215			9,721			16,773			17,824
Operating expenses:
Sales and marketing		3,072			2,637			6,461			5,240
General and administrative		3,650			2,751			6,836			5,502
Research and development		1,097			1,316			2,062			2,475
Impairment loss		3,765			—			3,765			—
Total operating expenses		11,584			6,704			19,124			13,217
Operating income (loss)		(3,369	)		3,017			(2,351	)		4,606
Interest income (expense), net		248			(211	)		463			(405	)
Other expense, net		(272	)		(196	)		(406	)		(401	)
Income (loss) from continuing operations before income taxes and discontinued operations		(3,393	)		2,610			(2,294	)		3,800
Income tax expense		116			269			247			455
Income (loss) from continuing operations before discontinued operations		(3,509	)		2,341			(2,541	)		3,345
Loss on disposal of discontinued operations		(1,116	)		—			(1,116	)		—
Loss from discontinued operations, net of income taxes		(405	)		(333	)		(597	)		(570	)
Net income (loss)	$	(5,030	)	$	2,008		$	(4,254	)	$	2,775
Basic income (loss) per share attributable to IntriCon shareholders:
Continuing operations	$	(0.40	)	$	0.34		$	(0.29	)	$	0.48
Discontinued operations		(0.17	)		(0.05	)		(0.20	)		(0.08	)
Net income (loss) per share:	$	(0.57	)	$	0.29		$	(0.49	)	$	0.40
Diluted income (loss) per share attributable to IntriCon shareholders:
Continuing operations	$	(0.40	)	$	0.29		$	(0.29	)	$	0.42
Discontinued operations		(0.17	)		(0.04	)		(0.20	)		(0.07	)
Net income (loss) per share:	$	(0.57	)	$	0.25		$	(0.49	)	$	0.35
Average shares outstanding:
Basic		8,743			6,991			8,724			6,930
Diluted		8,743			8,118			8,724			8,021

(more)

INTRICON CORPORATION 

CONSOLIDATED CONDENSED BALANCE SHEET

(In Thousands, Except Per Share Amounts)

	June 30,			December 31,
	2019			2018
	(Unaudited)			(Unaudited)
Current assets:
Cash, cash equivalents and restricted cash	$	9,801		$	8,047
Short-term investments		19,688			38,093
Accounts receivable, less allowance for doubtful accounts of $308 at June 30, 2019 and $807 at December 31, 2018		9,746			11,266
Inventories		18,251			18,163
Contract assets		7,116			5,624
Other current assets		1,216			2,146
Current assets of discontinued operations		648			1,205
Total current assets		66,466			84,544
Machinery and equipment		39,155			36,725
Less:  Accumulated depreciation		26,276			25,303
Net machinery and equipment		12,879			11,422
Goodwill		9,551			10,808
Intangible assets, net		—			2,585
Operating lease right of use asset		4,396			—
Investment in partnerships		1,445			2,091
Long-term investments		15,357			—
Other assets, net		6,234			3,427
Noncurrent assets of discontinued operations		—			371
Total assets	$	116,328		$	115,248
Current liabilities:
Current financing leases	$	102		$	—
Current operating leases		1,620			—
Accounts payable		12,000			12,871
Accrued salaries, wages and commissions		3,456			4,409
Other accrued liabilities		4,260			4,031
Liabilities of discontinued operations		606			336
Total current liabilities		22,044			21,647
Noncurrent financing leases		69			—
Noncurrent operating leases		2,971			—
Other postretirement benefit obligations		355			377
Accrued pension liabilities		737			706
Other long-term liabilities		1,224			544
Total liabilities		27,400			23,274
Commitments and contingencies
Shareholders’ equity:
Common stock, $1.00 par value per share; 20,000 shares authorized; 8,754 and 8,664 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively		8,754			8,664
Additional paid-in capital		85,729			84,999
Accumulated deficit		(4,764	)		(509	)
Accumulated other comprehensive loss		(538	)		(927	)
Total shareholders’ equity		89,181			92,227
Non-controlling interest		(253	)		(253	)
Total equity		88,928			91,974
Total liabilities and equity	$	116,328		$	115,248

(more)