This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Immersion Corporation CEO Discusses Q4 2011 Results - Earnings Call Transcript

As a percentage of total revenue in the fourth quarter, 41% came from Mobility, 32% from Gaming, 16% from Medical, 7% from Auto and 4% from Chip and Other. Revenues from royalties and licenses were $6.8 million, up 26% from royalty revenues of $5.4 million in the fourth quarter of 2010 primarily reflecting strong demand in the Gaming and Mobility lines of business.

Revenues from the sale of products was $691,000 compared to $768,000 in the same quarter last year and revenues from development contracts were $193,000 compared to $223,000 in the year ago period. As I mentioned previously, revenues for the full year were $30.6 million, down 2% from revenues of $31.1 million for fiscal 2010.

As a reminder, the prior year included revenue from medical product lines that have been transferred to CAE or discontinued and some true-up adjustments for the Gaming line of business. Excluding these items, revenue for 2010 from ongoing business was $26.4 million.

License and royalty revenues for fiscal 2011 were $26.9 million, up 16% from $23.3 million in 2010. Revenues from products and development contracts were $2.6 million and $1.1 million respectively, compared to revenues of $6.8 million and $1.1 million respectively in 2010.

Cost of product sales in the fourth quarter of 2011 was $342,000, compared to $314,000 in the fourth quarter of 2010. Gross profit in the fourth quarter of 2011 was $7.3 million or 96% of revenues, compared to gross profit of $6.1 million or 95% of revenues in the same period last year.

Gross profit for the year was $29.4 million or 96% of revenues compared to gross profit margin of $28.2 million or 91% of revenues in 2010. The increase in gross profit as a percentage of revenues from year to year was primarily driven by the higher mix of revenues from royalties and licenses, which generated higher gross margins than gross margins from revenues related to product sales.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs