Immersion lowers net loss on higher Q2 revenues

Force-feedback technology provider Immersion has posted its Q2 financial results, showing higher revenues and a marginal year-on-year improvement on its overall net loss for the period.

For the quarter ended June 30th, Immersion posted revenues of US$ 6.7 million (5.2 million Euro), compared to US$6.2 million (4.8 million Euro) for the same period in 2005.

Net loss for the quarter was US$2.4 million (1.9 million Euro), showing a 16 per cent improvement on last year's US$2.8 million (2.2 million Euro) loss.

Revenue for the first six months was up on last year, reaching US$12.7 million (9.9 million Euro), with an 11 per cent overall improvement in net loss, which was posted at US$5.3 million (4.1 million Euro) compared to last year's US$6 million (4.7 million Euro) loss.

The latest results show the lowest quarterly loss since the company went public in 1999, and Immersion is determined to continue its drive towards profitability with a focus on next-gen and mobile vibration technology.

Touting the firm's TouchSense technology for next-gen consoles, Immersion has once again hinted at its continued desire to work with Sony on the PlayStation 3.

"This new TouchSense technology can work alongside motion and tilt sensing and provides backward compatibility for existing dual-motor systems, allowing an implementation path at any stage of product lifecycle, even after a console model has launched," the company stated.

Immersion is also making determined moves into the mobile gaming space, confirming a licensing agreement with handset manufacturer LG for its VibeTonz technology, as well as additional support for over a thousand VibeTonz-enabled music clips from Korean mobile operator SK Telecom. The company has also noted a new technology platform for the smartphone market, hoping to capitalise on the increasing advancements in handset technology.