Immersion Corp - IMMR STOCK NEWS

Immersion Corporation (NASDAQ: IMMR) reported preliminary fiscal second quarter results for the period ending June 30, 2021, expecting revenues of $10.5 to $11.0 million. GAAP operating expenses are projected to be $5.1 to $5.5 million, with net income anticipated between $5.0 and $5.5 million or $0.16 to $0.18 per diluted share. Non-GAAP operating expenses are expected at $3.9 to $4.3 million, and non-GAAP net income is forecasted to be $6.8 to $7.3 million or $0.22 to $0.23 per diluted share.

Immersion Corporation (NASDAQ: IMMR) has renewed its license agreement with ASUS for the use of TouchSense software in ASUS ROG Phones, enhancing the gaming experience through advanced haptic feedback. This renewal highlights ASUSTek's dedication to providing superior haptic experiences in its smartphones. TouchSense technology optimizes performance and delivers precise haptic controls, improving system efficiency and user engagement. This agreement emphasizes Immersion's role as the leading innovator in haptic technology, crucial for gaming and digital interactions.

Immersion Corporation (NASDAQ: IMMR) and Rightware have partnered to enhance automotive UI design through haptic technology. Developers can now utilize Kanzi Studio combined with Immersion's APIs to create and test haptic interfaces for automotive displays. This collaboration allows manufacturers to access Immersion's haptic effects library and join the Kanzi Partner Program, expanding the Rightware ecosystem. Immersion’s Automotive Haptic Product Development Kit facilitates quick integration of haptic features, aiming to revolutionize user experience in modern vehicles.

Immersion Corporation (NASDAQ: IMMR) has renewed its licensing agreement with Panasonic Mobile Communications for the use of TouchSense software and haptic technologies in Panasonic's rugged handheld devices. These devices are designed to operate in demanding environments and utilize TouchSense to enhance user experiences through advanced haptic feedback. The software optimizes performance, providing high-quality effects with lower battery consumption. Immersion continues to lead in haptic technology across various sectors, including mobile and consumer electronics.

Immersion Corporation (NASDAQ: IMMR) reported a positive financial performance for Q1 2021, with total revenues reaching $7.2 million, an increase from $6.3 million in Q1 2020. Notably, royalty and license revenues improved to $7.1 million. Operating expenses saw a considerable decline, with GAAP expenses at $4.6 million, down from $10.8 million a year prior. The company achieved a GAAP net income of $2.0 million, compared to a net loss of $4.8 million in the previous year. Cash and cash equivalents stood at $102.6 million as of March 31, 2021.

Immersion Corporation (NASDAQ: IMMR) will report its financial results for Q1 2021 on May 6, 2021, after market close. A conference call for analysts and investors will take place at 2:00 p.m. PT (5:00 p.m. ET). Participants can join the call by dialing 800-367-2403 and using conference ID 8181866. A replay will be available until May 16, 2021, at 8:00 p.m. ET by calling 888-203-1112. The company specializes in haptic technology, enhancing user experiences across mobile, automotive, gaming, and consumer electronics. For more information, visit Immersion's Investor Relations page.

Immersion Corporation (NASDAQ: IMMR) reported Q4 2020 revenues of $10.9 million, a slight decrease from $11.5 million in Q4 2019. GAAP net income surged to $8.1 million, or $0.30 per diluted share, up from $1.0 million in the previous year. Non-GAAP net income also improved to $8.0 million, with operating expenses down 48% year-over-year. For the fiscal year, total revenues were $30.5 million, down from $36.0 million in 2019, but net income shifted from a loss to a profit of $5.4 million.

Immersion Corporation (NASDAQ: IMMR) and StrikerVR are collaborating to enhance haptic technology in virtual reality (VR) peripherals. This partnership will utilize Immersion's advanced haptic and kinesthetic technologies to develop innovative force feedback systems for StrikerVR's upcoming products. The new controllers aim to enrich user experiences by accurately simulating various sensations, such as sounds and physical interactions. This multi-year licensing agreement signifies a major step in the evolving landscape of VR gaming, promising to deliver more immersive experiences for consumers.

Immersion Corporation (NASDAQ: IMMR) announced that the Advanced Television System Committee (ATSC) has accepted its proposal as a Recommended Practice, facilitating haptic feedback in ATSC 3.0 broadcasts. This allows content distributors to enhance mobile apps with haptic features, enriching live sports, advertising, and gaming. Dr. Yeshwant Muthusamy emphasized the integration of haptics to improve viewer experience. ATSC's deployment in 62 markets over the next year aims to reach 75% of U.S. viewers, showcasing advancements in media technology.