Synaptics on Upswing in Latest Quarterly Report

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.”

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November 12, 2018 – by Alex Perala