U.S. Markets closed

Immersion reports 4Q loss

SAN JOSE, Calif. (AP) _ Immersion Corp. (IMMR) on Thursday reported a fourth-quarter loss of $38.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the San Jose, California-based company said it had a loss of $1.32. Losses, adjusted for pretax expenses and stock option expense, were 27 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.

The touch-based technology company posted revenue of $9.3 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $10.3 million.

For the year, the company reported a loss of $39.4 million, or $1.37 per share, swinging to a loss in the period. Revenue was reported as $57.1 million.

Immersion expects a full-year loss of $1.05 to 76 cents per share.

Immersion shares have climbed almost 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.69, an increase of 24 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMMR at https://www.zacks.com/ap/IMMR


Keywords: Immersion, Earnings Report