Synaptics Inc Profit Declines 11% In Q2

(RTTNews) - Synaptics Inc (SYNA) revealed earnings for second quarter that dropped from last year.

The company said its earnings dropped to $53.4 million, or $1.49 per share. This was down from $60.3 million, or $1.60 per share, in last year's second quarter.

Analysts had expected the company to earn $1.29 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.0% to $461.3 million. This was down from $470.5 million last year.

Synaptics Inc earnings at a glance:

-Earnings (Q2): $53.4 Mln. vs. $60.3 Mln. last year. -Earnings Decline (Y-o-Y): -11.4% -EPS (Q2): $1.49 vs. $1.60 last year. -EPS Decline (Y-o-Y): -6.9% -Analysts Estimate: $1.29 -Revenue (Q2): $461.3 Mln vs. $470.5 Mln last year. -Revenue Change (Y-o-Y): -2.0%

-Guidance: Next quarter revenue guidance: $410 - $450 Mln