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Synaptics: Fiscal 3Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported fiscal third-quarter net income of $6.7 million, after reporting a loss in the same period a year earlier.

The San Jose, California-based company said it had profit of 19 cents per share. Earnings, adjusted for one-time gains and costs, came to 83 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The maker of touch-screen technology posted revenue of $334 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $342.4 million.

For the current quarter ending in June, Synaptics said it expects revenue in the range of $300 million to $320 million. Analysts surveyed by Zacks had expected revenue of $368.7 million.

Synaptics shares have declined 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $31.72, a drop of 32% 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