Immersion (NASDAQ:IMMR) is up 15.9% after hours to $8.99 after beating Q4 estimates on the back of an 18% Y/Y increase in royalty/license revenue to $15.8M.
2016 sales guidance is at $55M-$65M vs. a $64.3M consensus. However, the outlook doesn't include any revenue that would come from a renewal of Immersion's licensing deal with Samsung, which expired at the end of 2015. Net income guidance (affected by the recently-filed Apple/AT&T suit) is at -$8M to $3M.
Along with the numbers, Immersion has announced CFO Paul Norris is retiring, effective tomorrow. CEO Vic Viegas will serve as interim CFO until Norris' successor is found.
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