Synaptics Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012
January 24, 2013 at 04:15 pm EST
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Synaptics Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net income of $11,114,000 or $0.33 per diluted share on net revenues of $143,040,000 compared to net income of $17,383,000 or $0.51 per diluted share on net revenues of $145,470,000 a year ago. Operating income was $14,928,000 compared to $21,165,000 a year ago. Income before income taxes was $15,148,000 compared to $21,404,000 a year ago. Non-GAAP net income was $17,684,000 or $0.53 per diluted share compared to $23,025,000 or $0.68 per diluted share a year ago. Cash flow from operations for the second quarter were $15,300,000. Second quarter revenue exceeded the high end of the company's guidance range, reflecting better than anticipated revenue from mobile phone touch screen applications, partially offset by lower than expected PC revenue.
For the six months period, the company reported net income of $17,167,000 or $0.51 per diluted share on net revenues of $270,081,000 compared to net income of $30,398,000 or $0.89 per diluted share on net revenues of $278,916,000 a year ago. Operating income was $23,261,000 compared to $37,490,000 a year ago. Income before income taxes was $23,695,000 compared to $37,945,000 a year ago. Non-GAAP net income was $30,427,000 or $0.90 per diluted share compared to $42,171,000 or $1.24 per diluted share a year ago.
Synaptics Incorporated is a developer and fabless supplier of mixed signal semiconductor solutions. The Company delivers complete chip, firmware and software semiconductor solutions that allow its customers to integrate advanced functions into their end products. It serves Internet of things (IoT), personal computer and mobile markets. Its IoT market solutions consist of wireless connectivity (Wi-Fi, Bluetooth and global positioning system, or GPS) products, System-on Chip (SoC), products, display and touch-integrated circuits for use in automobiles, and a range of audio and video products and solutions. It provides custom and semi-custom product solutions for navigation, cursor control, and access to devices or applications through fingerprint authentication, and human presence detection solutions, for many of the PC OEMs. Its mobile product applications include smartphones, tablets, large touchscreen applications, as well as a variety of mobile, handheld, and entertainment devices.