“…Synaptics is well-positioned to regain its footing going forward, with Synaptics’ Internet of Things platform expected to swing from a 29 percent year-over-year drop in Q3 back to a growth trend in June.”
Synaptics has set a date for its next quarterly update, with its fiscal Q4 results to be posted on August 8th after market close.
The results are not expected to be great. In its Q3 report, published at the end of March, the user interface specialist posted revenues of $334 million, a steep year-over-year drop in comparison to revenues of $394 million in Q3 of 2018. And this trend was expected to continue, with the Q4 forecast in the range of $300 million to $320 million in revenues.
In announcing the Q3 results, Synaptics’ Corporate Marketing and Investor Relations VP, Saleel Awsare, attributed the revenue decline to “residual effects of unfavorable supply chain dynamics in the near term”, but also emphasized that Synaptics is well-positioned to regain its footing going forward, with Synaptics’ Internet of Things platform expected to swing from a 29 percent year-over-year drop in Q3 back to a growth trend in June.
It’s also worth noting that despite the revenue drops, Synaptics nevertheless reported an improvement in its net result for Q3, which went from a loss of $13.7 million in Q3 of 2018 to a profit of $6.7 million in this year’s corresponding quarter. If that trend has continued, the company may indeed appear to be on solid footing in its next update.
Synaptics’ August 8th update will arrive along with a conference call detailing the company’s position, which is scheduled to start at 5:00pm EST.
July 12, 2019 – by Alex Perala