Stock market today: S&P 500 closer lower on fresh economic concerns
AVENTURA, Fla. - Immersion Corporation (NASDAQ:IMMR) reported fourth quarter earnings that exceeded analyst expectations, while revenue skyrocketed following its acquisition of a controlling stake in Barnes & Noble Education (NYSE:BNED).
Despite the earnings beat, Immersion’s stock dipped 1.1% following the release
The haptics technology company posted adjusted earnings per share of $0.63, beating the analyst consensus of $0.52. Revenue for the quarter surged to $474.8 million, far above estimates of $262 million and up significantly from $9.5 million in the same quarter last year. The massive revenue increase was driven by the inclusion of Barnes & Noble Education’s results after Immersion acquired a 32.3% stake in June 2024.
"Immersion drove strong financial performance in the quarter," said CEO Eric Singer. He noted the company returned over $9 million to shareholders through dividends and buybacks.
For the fourth quarter, Immersion’s standalone royalty and license revenue was $8.4 million. Barnes & Noble Education contributed $423.2 million in product and other revenue, plus $43.2 million in rental income.
The company reported GAAP net income of $15.5 million, or $0.47 per diluted share. On a non-GAAP basis, net income was $20.8 million or $0.63 per share.
The company declared a quarterly dividend of $0.045 per share, payable on April 25 to shareholders of record as of April 14.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.