Immersion (IMMR) Tops Q1 EPS by 1c, Slight Beat on Revenues; Raises FY19 Revenue Outlook Above Consensus

Immersion (NASDAQ: IMMR) reported Q1 EPS of ($0.28), $0.01 better than the analyst estimate of ($0.29). Revenue for the quarter came in at $5.12 million versus the consensus estimate of $5.1 million.

Ramzi Haidamus, President and Chief Executive Officer of Immersion, commented, “I am delighted to report that the successful transformation of Immersion is well under way. All major litigation is now behind us. Customers are once again recognizing the value of the innovative haptics technologies and solutions we deliver. This is an exciting time for Immersion as we lead the development and broad adoption of immersive touch feedback technologies in closer partnership with our customers in the mobility, gaming, automotive, IoT and other markets.”

"Taking into account the timing of expected revenue generation from our expanded roster of licensees, we are raising our guidance and expect revenues for 2019 to be in the range of $36 million to $41 million and Non-GAAP net loss for 2019 to be in the range of ($6) million to ($13) million," concluded Mr. Haidamus.

GUIDANCE:

Immersion sees FY2019 revenue of $36-41 million, versus the consensus of $27.12 million.

For earnings history and earnings-related data on Immersion (IMMR) click here.

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