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Synaptics: Fiscal 1Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported fiscal first-quarter net income of $3.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Jose, California-based company said it had profit of 11 cents. Earnings, adjusted for one-time gains and costs, were $1.24 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The maker of touch-screen technology posted revenue of $417.6 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $411 million.

For the current quarter ending in January, Synaptics said it expects revenue in the range of $410 million to $440 million. Analysts surveyed by Zacks had expected revenue of $435.8 million.

Synaptics shares have fallen 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $34.93, a decrease of 19 percent in the last 12 months.


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