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March 2, 2017, 6:06 p.m. EST

Immersion shares plummet after results, outlook fall short of Street view

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By Wallace Witkowski

Immersion Corp. /zigman2/quotes/209597623/composite IMMR -0.58% shares plunged in the extended session Thursday after the touch-feedback technology, or haptics, company reported a wider-than-expected loss for the quarter and an outlook that fell short of Wall Street estimates. Immersion shares dropped 17% to $8.90 after hours. The company reported an adjusted loss of 27 cents a share on revenue of $9.3 million. Analysts surveyed by FactSet had estimated a loss of 16 cents a share on revenue of $10.3 million. For 2017, the company forecast an adjusted loss of 76 cents to $1.05 a share on revenue of $38 million to $42 million. Analysts had estimated a loss of 21 cents a share on revenue of $54.1 million. "In addition to normal considerations, our guidance for 2017 takes into account the ongoing litigation with Apple and the current unlicensed status of Samsung," Immersion said in a statement. Last year, Immersion filed patent infringement lawsuits against Apple Inc. /zigman2/quotes/202934861/composite AAPL +3.49% for technology used in iPhones and the trackpads used in MacBooks.

/zigman2/quotes/209597623/composite
US : U.S.: Nasdaq
$ 6.91
-0.04 -0.58%
Volume: 132,499
Aug. 6, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$193.62 million
Rev. per Employee
$1.73M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 455.61
+15.36 +3.49%
Volume: 50.61M
Aug. 6, 2020 4:00p
P/E Ratio
34.63
Dividend Yield
0.72%
Market Cap
$1882.35 billion
Rev. per Employee
$1.98M
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