Immersion (IMMR) Misses Q3 EPS by 5c

Immersion (NASDAQ: IMMR) reported Q3 EPS of $0.00, $0.05 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $10.6 million versus the consensus estimate of $11.34 million.

“I am very pleased to report that Immersion has reached a key inflection point in attaining break-even net income on a non-GAAP basis and is poised to deliver further improvements in profitability as we exit the last quarter of the year,” said Ramzi Haidamus, Immersion’s President and CEO. “Our strategic efforts to accelerate the shift from one-time licensing deals to a focus on recurring revenue, coupled with our efforts to right-size our operating profile, are already starting to pay off as we forge a path to sustainable profitability. We look forward to sharing more details regarding our go forward strategy during our upcoming analyst and investor meeting in New York.”

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

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