Immersion Fiscal Results Show Growing Reliance On Royalty Revenue

The company pulled in $5.2 million in revenues for the quarter, down slightly from last year. For the year, revenues were up 26% to $19.2 million, and the company reported a net loss of $21.7 million ($1.16 per share) -- close to the previous year's loss of $22.2 million ($1.25 per share). Of note, the company's royalty revenues from its large stable of patents was up 68% on the year, to $5.4 million. Royalties from its technology now stand at 28% of overall revenue, and represent the fastest growing source of income for the company -- shedding light on the company's desire to protect that income stream. Wall Street was apparently spooked by the patent infringement lawsuit filed yesterday against the two console manufacturers, taking shares of Immersion down 20% today to around $3.60.