Immersion Provides Update on Stock Repurchases

About this update from Immersion Corporation

[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nImmersion Corporation (NASDAQ: IMMR), the leading developer and licensor of touch feedback technology, today announced that during December 2019 through January 24, 2020, it repurchased 578,915 shares of common stock for an aggregate purchase price of $4,201,905. Such purchases were made under its previously-approved repurchase program, under which approximately $29.2 million of the Company’s common stock may yet be purchased.\n\n\n“As we noted last year, Immersion reached a key inflection point in the third quarter of 2019 by attaining break-even net income on a non-GAAP basis and continues to focus on further improving profitability by right-sizing operations. The share repurchases reflect continued confidence in the new strategic initiatives announced by Immersion during its Investor Day in November 2019,” stated Ramzi Haidamus, CEO.\n\n\n“In line with our new strategic plan, and given the company’s strategic and operational progress, and our strong balance sheet, the board believes repurchasing shares at the right price is a prudent use of capital. This ongoing share repurchase program highlights our commitment to enhancing shareholder value,” said Sharon Holt, Chairman of the Board.\n\n\nAbout Immersion\n\n\nImmersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. The company provides technology solutions for creating immersive and realistic experiences that enhance digital interactions by engaging users’ sense of touch. Immersion's technology has been adopted in more than 3 billion digital devices, and provides haptics in mobile, automotive, gaming, medical and consumer electronics products. Immersion is headquartered in San Jose, California with offices worldwide. Learn more at www.immersion.com.\n\n\nForward-looking Statements\n\n\nThis press release contains \"forward-looking statements\" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.\n\n\nAll statements, other than the statements of historical fact, are statements that may be deemed forward-looking statements, including the statement that we...

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