Business
Immersion Announces Preliminary Results for Fiscal Fourth Quarter 2020
Company Expects 40% Sequential Revenue Growth and GAAP and Non-GAAP EPS between $0.27 and $0.29 per share SAN FRANCISCO--(BUSINESS WIRE)-- Immersion
About this update from Immersion Corporation
[{"type":"text","content":"\nCompany Expects 40% Sequential Revenue Growth and GAAP and Non-GAAP EPS between $0.27 and $0.29 per share\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nImmersion Corporation (NASDAQ: IMMR), the leading developer and provider of technologies for haptics, announced today preliminary results for the fiscal fourth quarter ended December 31, 2020.\n\nBased on preliminary financial data, Immersion expects fiscal fourth quarter:\n\n\nRevenues to be between $10.5 to $11 million\n\n\nGAAP Operating expenses to be between $5.6 and $6.0 million\n\n\nGAAP Net Income to be between $7.5 and $8.0 million or $0.27 and $0.29 per diluted share\n\n\nNon-GAAP Operating expenses to be between $3.5 and $3.9 million\n\n\nNon-GAAP Net Income to be between $7.5 and $8.0 million or $0.27 and $0.29 per diluted share\n\n\nPlease refer to the note below on forward-looking statements and the risks involved with such statements as well as the note on non-GAAP financial measures. These preliminary financial results are subject to revision until the Company reports its full fiscal fourth quarter 2020 results on March 4, 2021.\n\nJared Smith, Immersion’s Interim Chief Executive Officer commented, “We finished the year with strong momentum in our business, delivering sequential growth while continuing to innovate. I’m excited to capitalize on this momentum and on our recent achievements, including the recent success of the DualSense controller for the PlayStation 5 and our contribution to its haptic capabilities. I look forward to providing a more comprehensive update in our upcoming earnings call.”\n\nImmersion to Host Fourth Quarter Conference Call on March 4, 2021\n\nThe Company intends to release full results for its fiscal fourth quarter ended December 31, 2020, after market closes on Thursday, March 4, 2021. Immersion will host a corresponding conference call for analysts and investors at 2:00 p.m. PT (5:00 p.m. ET). To participate in the live call, analysts and investors should dial 866-548-4713 (conference ID: 2481300) at least ten minutes prior to the start of the call.\n\nA replay of the call will be available until 8:00 p.m. ET on March 04, 2021, by dialing 888-203-1112 and entering the conference ID: 2481300. A live and archived webcast of the conference call will be available from the \"Events & Presentations\" page of Immersion's Investor Relations websit...