This Day On The Street
Continue to site
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's CEO Discusses Q1 2012 Earnings Results - Earnings Call Transcript

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

Victor Viegas

The first quarter is typically our seasonally strongest quarter and our financial performance during the period illustrates the strength of our scalable and high margin license business and the success of our partner’s products in the market with our technology. We achieved positive adjusted EBITDA of $1.6 million during the quarter based on revenues of $9.7 million. Strong royalty revenues of $9.1 million for the quarter grew 9% over the same period last year.

As you’ve seen from our recent announcements, we continue to focus on delivering innovative new product solutions to the mobile market while protecting our intellectual property and the interest of our shareholders, partners, and customers. Before I take a deeper dive into our financial results for the quarter, I wanted to call your attention to the announcement this afternoon that we have successfully completed the search for a new chief financial officer.

We are extremely pleased that Paul Norris will join Immersion as CFO. Paul brings the perfect blend of financial and legal expertise through his in depth experience with publically traded licensing and IP oriented digital media companies making him ideally suited to support our sales and legal functions while rounding out our talented executive team. We believe that he will be a tremendous asset to the company as we work to grow our licensing business while also protecting our IP.

While Paul doesn’t officially begin his role until May 14 th, I’ve invited him to say a few words on the call today.

Paul Norris

I’m very excited to be joining Immersion as CFO. To share a little bit about my background, I’ve been advising technology companies in legal and finance capacities for over 20 years in areas ranging from innovation and corporate strategy to IP enforcement and M&A. Until early 2011 I was CFO and general counsel of Sonic Solutions, a publically traded digital media software and entertainment solutions provider located here in the Bay area.

2 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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs