Immersion Corporation Reports Second Quarter 2008 Financial Results

Immersion Corporation
Condensed Consolidated Balance Sheets
(In thousands)
 
June 30, December 31,
2008 2007
(Unaudited)

(1)

ASSETS
Cash and cash equivalents $ 97,535 $ 86,493
Short-term investments 31,835 51,619
Accounts receivable, net 5,315 5,494
Inventories, net 4,328 3,674
Deferred income taxes 3,857 3,351
Prepaid expenses and other current assets   4,200   3,036  
Total current assets 147,070 153,667
 
Property and equipment, net 2,636 2,112
Deferred tax assets, net 3,999 4,031
Intangibles and other assets, net   9,560   8,558  
 
TOTAL ASSETS $ 163,265 $ 168,368  
 
LIABILITIES
Accounts payable $ 1,647 $ 1,657
Accrued compensation 2,900 1,828
Other current liabilities 2,479 2,629
Deferred revenue and customer advances   5,439   4,478  
Total current liabilities 12,465 10,592
 
Long-term liabilities and deferred revenue   17,494   15,989  
TOTAL LIABILITIES 29,959 26,581
 
STOCKHOLDERS EQUITY   133,306   141,787  
 
TOTAL LIABILITIES &
STOCKHOLDERS EQUITY $ 163,265 $ 168,368  
 
(1) Derived from Immersion s annual audited consolidated financial statements.

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