Immersion Corp: Soars on settlement with Samsung, deal with Sony

Immersion

13/05/2019 22:02

** Haptic technology developer's shares  IMMR.O  surge ~15%
to $10.60 in extended trading after resolving infringement
litigation it brought against Samsung  005930.KS  
    ** Terms of settlement with Samsung are confidential; IMMR
says will grant Samsung license for its patents and advanced
haptic technologies  urn:newsml:reuters.com:*:nBw2gSmJfa
    ** IMMR also announces agreement with Sony Interactive
Entertainment to license its advanced haptics patent portfolio
for gaming and VR controllers  urn:newsml:reuters.com:*:nBw2VX90ja 
    ** Raises FY revenue guidance between $36 mln and $41 mln
from $24 mln and $30 mln due to added licensees; expects smaller
 FY net loss of $6 mln to $13 mln from $19 mln to $28 mln 
    ** Co posts Q1 adjusted loss of $0.28/shr, beating analysts'
estimate by a cent, according to Refinitiv Data; posts Q1 rev
at$5.1 mln, in line with estimates
    ** Stock fell ~15% in regular trading; Up to Monday's close,
stock had risen ~3%

 (Reporting by Nishara Karuvalli Pathikkal)
 ((Reuters Messaging:
Nishara.karuvallipathikkal.thomsonreuters.com@reuters.net))