Synaptics: Fiscal 2Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported fiscal second-quarter net income of $12.8 million, after reporting a loss in the same period a year earlier.
The San Jose, California-based company said it had profit of 36 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, came to $1.55 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.
The maker of touch-screen technology posted revenue of $425.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $424.5 million.
For the current quarter ending in April, Synaptics said it expects revenue in the range of $340 million to $380 million.
Synaptics shares have climbed almost 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.86, decreasing slightly in the last 12 months.