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Synaptics: Fiscal 1Q Earnings Snapshot

·1 min read

SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported a fiscal first-quarter loss of $2.8 million, after reporting a profit in the same period a year earlier.

The San Jose, California-based company said it had a loss of 8 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.85 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.

The maker of touch-screen technology posted revenue of $328.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $324.4 million.

For the current quarter ending in January, Synaptics said it expects revenue in the range of $340 million to $370 million. Analysts surveyed by Zacks had expected revenue of $324.4 million.

Synaptics shares have climbed 25% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $82.50, an increase of 72% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYNA at https://www.zacks.com/ap/SYNA