Immersion flies higher after Q4 beat; CFO leaving

|About: Immersion Corporation (IMMR)|By:, SA News Editor

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.

Immersion's Q4 results, earnings release

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