Immersion Corp first-quarter loss widens on a YOY basis
Source: IRIS | 08 May, 2017, 01.44AM
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 Immersion Corporation (IMMR) saw its loss widen to $12.86 million, or $0.44 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.70 million, or $0.09 a share. On the other hand, adjusted net loss for the quarter widened to $8.74 million, or $0.30 a share from a loss of $1.23 million or $0.04 a share, a year ago. Revenue during the quarter plunged 32.29 percent to $9.22 million from $13.62 million in the previous year period. Gross margin for the quarter contracted 28 basis points over the previous year period to 99.53 percent. Operating loss for the quarter was $12.85 million, compared with an operating loss of $4.61 million in the previous year period. Working capital increases
Immersion Corporation has recorded an increase in the working capital over the last year. It stood at $59.35 million as at Mar. 31, 2017, up 12.43 percent or $6.56 million from $52.79 million on Mar. 31, 2016. Current ratio was at 4.08 as on Mar. 31, 2017, down from 4.41 on Mar. 31, 2016. Days sales outstanding went down to 15 days for the quarter compared with 20 days for the same period last year. At the same time, days payable outstanding went up to 7955 days for the quarter from 6349 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
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