Synaptics: Fiscal 4Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported a loss of $46.2 million in its fiscal fourth quarter.
The San Jose, California-based company said it had a loss of $1.35 per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 38 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The maker of touch-screen technology posted revenue of $295.1 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $308.5 million.
For the year, the company reported that its loss narrowed to $22.9 million, or 66 cents per share. Revenue was reported as $1.47 billion.
For the current quarter ending in October, Synaptics said it expects revenue in the range of $300 million to $330 million. Analysts surveyed by Zacks had expected revenue of $329.1 million.
Synaptics shares have dropped 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.23, a drop of 32% in the last 12 months.