Immersion Corporation (NASDAQ:IMMR) rose Wednesday after the company reported strong preliminary results for its second quarter. The company said it sees Q2 non-GAAP earnings between $0.22 and $0.23 per share, versus analysts’ estimates of $0.11 per share. Immersion also expects 90% year-over-year growth in its revenue.
Immersion, the leading developer and provider of technologies for haptics, announced revenues to fall between $10.5 to $11.0 million
GAAP Operating expenses were expected between $5.1 and $5.5 million. GAAP Net Income were to be between $5.0 and $5.5 million or $0.16 and $0.18 per diluted share
Non-GAAP Operating expenses to be between $3.9 and $4.3 million. Non-GAAP Net Income to be between $6.8 and $7.3 million or $0.22 and $0.23 per diluted share
CEO Jared Smith commented, "We finished the first half of 2021 with strong momentum in our business, delivering sequential and year-over-year growth while continuing to innovate. I’m excited to capitalize on this momentum and look forward to providing a more comprehensive update in our upcoming earnings call."
The shares grew 36 cents, or 4.4%, to $8.58.
