Synaptics Q4 Results Miss Estimates, Q1 Guidance Weak; Stock Plunges 9%

(RTTNews) - Synaptics Inc (SYNA), a provider of human interface solutions for electronic devices, on Thursday reported fourth-quarter net earnings of $33.3 million or $0.85 per share compared with $34.5 million or $0.89 per share last year.

Excluding items, adjusted earnings for the quarter were $1.57 per share compared with $1.46 per share a year ago.

Revenues for the quarter were up at $478.9 million compared with $314.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.66 per share on revenues of $482.7 million for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, the company expects revenues of $450 million to $490 million, while analysts expect $503.9 million.

The company said it has increased its available stock repurchase authorization to $198 million.