Synaptics Inc Q2 Profit Decreases, misses estimates

(RTTNews) - Synaptics Inc (SYNA) revealed earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $22.0 million, or $0.55 per share. This compares with $69.5 million, or $1.71 per share, in last year's second quarter.

Excluding items, Synaptics Inc reported adjusted earnings of $88.5 million or $2.20 per share for the period.

Analysts on average had expected the company to earn $2.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.0% to $353.1 million from $420.5 million last year.

Synaptics Inc earnings at a glance (GAAP) :

-Earnings (Q2): $22.0 Mln. vs. $69.5 Mln. last year. -EPS (Q2): $0.55 vs. $1.71 last year. -Analyst Estimates: $2.34 -Revenue (Q2): $353.1 Mln vs. $420.5 Mln last year.

-Guidance: Next quarter revenue guidance: $310 to $340 Mln