Synaptics has issued its results for the quarter ended September 30th, which appear to show the company on an upswing.
Net revenues for the quarter came in at $417.6 million, almost even with the $417.4 million in revenues in the same quarter last year, but up seven percent compared to the previous quarter this year. The company has also reported a net income for the quarter of $3.8 million, compared to a net loss of $26.5 million a year ago. (Non-GAAP income came in at $44.6 million, up $9.5 million year-over-year.)
Looking to where Synaptics’ revenues came from, the picture gets a bit muddy. Its mobile activities, which include touchscreen and fingerprint sensor products, were down 10 percent year-over-year but up 19 percent sequentially, contributing to 63 percent of the revenue mix. Internet of Things products made up 21 percent of revenues, up 46 percent year-over-year and down 10 percent sequentially. PC products contributed 16 percent of the company’s revenues, up five percent year-over-year and down three percent sequentially.
In any case, in a statement announcing the results, Synaptics’ CFO, Wajid Ali, was upbeat about the company’s prospects for the fiscal year it’s entering. “Considering our backlog of $304 million entering the December quarter, subsequent bookings, customer forecasts and product sell-in and sell-through timing patterns, and the resulting expected product mix, we anticipate revenue for the second quarter of fiscal 2019 to be in the range of $410 to $440 million,” he said, adding that it all points to “a solid first half financial performance in fiscal 2019.”
November 12, 2018 – by Alex Perala