Synaptics Inc Reveals 40% Fall In Q1 Earnings

(RTTNews) - Synaptics Inc (SYNA) reported a profit for first quarter that fell from last year.

The company said its bottom line dropped to $34.2 million, or $0.96 per share. This was down from $56.9 million, or $1.49 per share, in last year's first quarter.

Analysts had expected the company to earn $1.00 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 17.8% to $386.2 million. This was down from $470.0 million last year.

Synaptics Inc earnings at a glance:

-Earnings (Q1): $34.2 Mln. vs. $56.9 Mln. last year. -Earnings Decline (Y-o-Y): -39.9% -EPS (Q1): $0.96 vs. $1.49 last year. -EPS Decline (Y-o-Y): -35.6% -Analysts Estimate: $1.00 -Revenue (Q1): $386.2 Mln vs. $470.0 Mln last year. -Revenue Change (Y-o-Y): -17.8%

-Guidance: Next quarter revenue guidance: $430 - $470 Mln