Immersion (IMMR) Reports In-Line Q3 EPS

November 3, 2016 4:31 PM EDT

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Immersion (NASDAQ: IMMR) reported Q3 EPS of $0.34, in-line with the analyst estimate of $0.34. Revenue for the quarter came in at $26.3 million versus the consensus estimate of $27.7 million.

“We exited the quarter with a strong balance sheet and positive momentum as we expanded our customer base across the markets we serve. The opportunities in front of us continue to increase as haptics is being more broadly adopted than ever, across existing markets as well as new and emerging areas. Immersion’s foundation of innovation and the strength of our patent portfolio makes us uniquely positioned to lead and succeed in this market,” said Vic Viegas, chief executive officer of Immersion. “As we enter the fourth quarter, we continue to expect 2016 revenues to be in the range of $55 to $65 million, which we now anticipate generating bottom line results of a net loss between $11 million and $800,000 and between a non-GAAP net loss of $6 million and non-GAAP net income of $4 million.”

For earnings history and earnings-related data on Immersion (IMMR) click here.

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