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TheStreet Open House

Immersion Corporation CEO Discusses Q4 2011 Results - Earnings Call Transcript

With that said, I’ll turn the call over to Chief Executive Officer, Vic Viegas. Vic?

Vic Viegas

Thank you Jennifer and thank you everyone for joining us this afternoon. 2011 was a productive year for Immersion. While total revenues of $30.6 million was slightly down from 2010, royalty and licensing revenues were up 16% from the prior year and represented 88% of our business, reflecting the successful transition to a scalable licensing model.

We kicked off the year by launching our integrator product, which created an automated way for OEMs to deeply integrate haptic effects into their Android UI and then quickly followed with the launch of an easy to use SDK for third-party developers to encourage the adoption of haptic effects into the design of mobile applications. Even more impressively, we saw these products adopted in the market very quickly, confirming that our haptic solutions helped solve real world, user interface problems.

During the year haptics enjoyed widespread adoption in the mobile market, with operating systems such as the Android OS adopting haptics as a critical user interface element for todays touch screen-driven devices. As the same time we enjoyed a broadening of our patent portfolio which represents years of Immersion investment and innovation in haptic space.

As you may know, we recently initiated a complaint with the ITC against Motorola Mobility to protect several of our patents covering various uses of haptic effects in touch screens. Outside of the mobile market, we continue to see strength for haptics in the Gaming segment and also experienced more engagement with partners and manufacturers in the automotive markets.

I will discuss our recent business developments in just a few minutes, but first I’d like to highlight our financial results for the fourth quarter and fiscal 2011. Revenues in the fourth quarter of 2011 were $7.7 million, up 20% from revenues of $6.4 million in the fourth quarter of 2010.

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