Synaptics Sets Date for First Quarterly Update Under New CEO

Biometrics News -Synaptics Sets Date for First Quarterly Update Under New CEO

Synaptics has set a date for its next quarterly report: The update will be issued on November 7 after market close.

The forthcoming corporate update will reflect the first quarter of Synaptics’ 2020 fiscal year, and will follow a Q4 2019 update in which the company reported lower than expected revenues of $295.1 million, just below Synaptics’ revenue guidance of $300-320 million.

In that update, Synaptics VP Saleel Awsare was nevertheless keen to highlight the company’s progress in a “corporate transformation”, with Synaptics focusing more on opportunities in edge computing SoCs for IoT and smart home devices, fingerprint sensors and touch display solutions for the automotive sector, OLED and touch display solutions for mobile devices, and other consumer tech areas. Interim CFO and Chief Accounting Officer Kermit Nolan, meanwhile, said Synaptics’ revenue guidance for Q1 of 2020 would be in the range of $300 to $330 million, with mobile solutions expected to deliver half of the company’s revenues.

Synaptics’ Q1 update will be the first to reflect the leadership of the company’s new CEO, Michael Hurston, who took the helm on August 19th. Hurston joined the company after spending about a year and a half as the CEO of Finisar, a supplier of the 3D laser imaging technology used in Apple’s sophisticated Face ID authentication system.

Synaptics’ Nov. 7 update will arrive along with a conference call for analysts and investors, slated to begin at 5:00pm Eastern Time. The call will be simulcast on the Investor Relations section of Synaptics’ website, where it will be available for replay afterwards.

October 9, 2019 – by Alex Perala