March 30, 2010 / 10:09 PM / 7 years ago

UPDATE 1-Immersion posts narrower Q4 loss, see strong Q1 revenue

* Q4 loss $0.15/shr vs loss $0.38/shr last year

* Revenue $6.9 mln, up 6 pct

* Sells part of medical simulation unit to CAE

March 30 (Reuters) - Immersion Corp (IMMR.O), which develops touch feedback technology, posted a narrower quarterly loss, helped by strong royalty and license sales, and forecast first-quarter revenue ahead of estimates.

The company forecast first-quarter revenue of $7 million to $8 million. Analysts on average were expecting revenue of $6.8 million, according to Thomson Reuters I/B/E/S.

Separately, Immersion said CAE Healthcare, a unit of flight simulator maker and aviation training company CAE Inc (CAE.TO) (CAE.N), bought a part of its medical simulation business unit.

Immersion will grant CAE a non-exclusive worldwide license for its technology in medical training applications.

Immersion posted a fourth-quarter net loss of $4.3 million, or 15 cents a share, compared with a net loss of $10.7 million, or 38 cents a share, a year earlier.

Revenue rose 6 percent to $6.9 million. Royalty and license revenue jumped 40 percent to $4.0 million.

Immersion shares, which have shed 47 percent of their value over the last 52 weeks, were up 2 percent at $4.60 in extended trade. They closed at $4.49 Tuesday on Nasdaq. (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Anne Pallivathuckal)

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