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Immersion Corp ( NASDAQ: IMMR) announced quarterly earnings as below:
Quarterly Earnings
Total revenues for the first quarter of 2011 were $9.8 million, as compared to $9.7 million for the first quarter of 2010. Royalty and license revenues totaled a record $8.4 million for the first quarter of 2011, an increase of 30% over $6.4 million in the same period last year. Net income for the first quarter of 2011 was $1.4 million, or $0.05 per share. This compares to net loss of $(2.7) million or $(0.09) per share, for the first quarter of 2010. Adjusted EBITDA for the first quarter of 2011 was $3.3 million, an increase of $2.9 million over $374,000 in the first quarter of 2010.
Guidance
Company expects revenues to be in the range of $31-$33 million. The Company expects to generate net income for fiscal 2011. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $31 million and net profit of $5.4 million for fiscal 2011.
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