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Immersion Corp. Q1 loss widens YOY

Immersion Corp. said its first-quarter normalized net income amounted to a loss of $2.7 million, compared with a loss of $59,380 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 20.2% from negative 0.4% in the year-earlier period.

Total revenue declined 16.4% year over year to $13.6 million from $16.3 million, and total operating expenses climbed 11.5% year over year to $18.2 million from $16.4 million.

Reported net income came to a loss of $2.7 million, or a loss of 9 cents per share, compared to a loss of $59,000, or a loss of 0 cents per share, in the year-earlier period.