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Immersion Corp Enters Into Multi-Year License With Samsung; Raises FY 2013 Revenue Guidance; Issues FY 2013 EBITDA Guidance Above Analysts' Estimates

Thursday, 7 Mar 2013 09:00am EST 

Immersion Corp announced it has entered into a multi-year license agreement with Samsung Electronics Co., Ltd. In addition to providing a license to Immersion's TouchSense and Integrator solutions, the agreement includes a patent license covering Samsung's prior and future use of simple forms of haptic effects, sometimes referred to as Basic Haptics, in its smartphones and other mobile devices. Having entered into this important customer agreement, the Company now in a position to raise fiscal 2013 guidance, as it expects revenues for the year to be in the range of $44-$48 million. In addition, while the Company continue to anticipate increased spending related efforts to defend and monetize IP, it expects Adjusted EBITDA for 2013 to be in the range of $12 million to $15 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $30 million and EBITDA of $(0.77) million for fiscal 2013. 

Company Quote

-0.08 -0.89%
19 Dec 2014