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Immersion Posts Q1 Loss

San Jose-based Immersion Corporation posted its first-quarter results yesterday for the period ended March 31, 2003, reporting a net loss of $3.7 million.
The developer of force-feedback technologies reported revenue of $3.7 million, compared to $4.8 million in income for the same period a year ago. Operating expenses totaled $5.6 million, a 3 percent reduction from the same period last year. Immersion CEO Vic Viegas said he was “disappointed in our performance this quarter,” but pointed optimistically to two recent long-term deals the company has signed.

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