02.08.2013 05:36:13
|
Synaptics Q4 Results Beat Estimates, Q1 Revenue Outlook In Line With View
(RTTNews) - Shares of Synaptics Inc. (SYNA) gained more than 2 percent in extended trades Thursday after the touchscreen technology company reported better than expected results for the fourth quarter and also forecast first-quarter revenue in line with analysts' estimates. The company's fourth-quarter profit almost quadrupled from last year on higher revenue from mobile products.
Kathy Bayless, CFO of Synaptics said, "Our performance in the June quarter reflected a steep initial ramp of new designs across multiple mobile customers."
Synaptics' revenue from PC products for the quarter declined 26 percent from the year-ago period to $57.0 million, while revenue from mobile products surged 186 percent to $173.2 million. Mobile products revenue includes all touchscreen and video display products.
Revenue mix for the quarter from mobile and PC products was about 75 percent and 25 percent, respectively.
The company's gross margin for the quarter was 50.0 percent, an increase of 390 basis points year-over-year.
The Santa Clara, California-based company's fourth-quarter net income increased to $45.32 million or $1.29 per share from $12.30 million or $0.36 per share in the previous-year period.
Adjusted net income for the fourth quarter was $48.94 million or $1.39 per share, compared to $18.61 million or $0.54 per share in the year-ago quarter. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $1.28 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenue for the quarter surged 67 percent to $230.18 million from $137.61 million in the same period last year. Analysts had a consensus revenue estimate of $228.69 million for the quarter.
For fiscal 2013, Synaptics' net income rose to $98.93 million or $2.89 per share from $54.14 million or $1.57 per share in the prior year. Adjusted net income was $106.38 million or $3.11 per share, compared to $78.64 million or $2.28 per share last year. Net revenue for the year grew 21 percent to $663.59 million from $548.23 million in the previous year.
Analysts expected the company to earn $2.99 per share for the year on revenues of $662.03 million.
Looking ahead to the first quarter of fiscal 2014, Synaptics forecast revenue in a range of $210 million to $225 million, representing an increase of 65 percent to 77 percent on a year-over-year basis. Street expects the company to report first-quarter revenue of $217.14 million.
Rick Bergman, President and CEO of Synaptics said, "As we look ahead to fiscal 2014, the declining PC market will continue to impact our growth rate, but overall we feel confident that we can achieve another year of very strong annual revenue growth at a level similar to our growth rate in fiscal 2013."
Synaptics said that in July, its board of directors increased and extended the authorization for stock repurchases by $100 million, for a total current authorization of $160 million available through October 2015.
SYNA closed Thursday's regular trading session at $40.67, up $0.67 or 1.67 percent on a volume of 1.73 million shares. In after-hours, the stock further gained $0.83 or 2.04 percent to $41.50.
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu Synaptics Inc.mehr Nachrichten
Analysen zu Synaptics Inc.mehr Analysen
Aktien in diesem Artikel
Synaptics Inc. | 80,08 | 1,44% |