Synaptics' profit rises nearly threefold Strong growth in digital music players behind results
SAN FRANCISCO (CBS.MW) - Synaptics Inc. said second-quarter profit jumped 178 percent as the maker of electronic touch-pad technology benefited from strong sales of digital-music players like Apple Computer's iPod.
Synaptics (SYNA: news, chart, profile) reported late Thursday that it earned $9.7 million, or 33 cents a share, up from $3.5 million, or 13 cents, a year earlier. Revenue rose 65 percent to $56.5 million from $34.3 million.
The company topped the estimates of analysts surveyed by Thomson First Call, who on average expected Synaptics to earn 30 cents a share on $55 million in revenue.
In after-hours trading, Synaptics shares rose $2.45, or 8 percent, to $32.68 after adding 23 cents in the regular market session.
Synaptics makes the scroll wheel technology used in Apple's (AAPL: news, chart, profile) best-selling iPods, and touchpad technology used in music players from Creative Technology (CREAF: news, chart, profile) , Samsung and others. The company's products are also used extensively by notebook computer makers.
In an interview with CBS MarketWatch, Synaptics Chief Executive Officer Francis Lee said increased demand for portable digital music players boosted quarterly sales in its non-PC products to 43 percent of revenue, up from 33 percent in Synaptics' first fiscal quarter.
That assessment was supported by Bear Stearns' analyst Andrew Neff's upgrading of Synaptics' stock prior to the company's report. Last week, Neff raised his rating on Synaptics to "outperform" on the grounds that the company benefited from stronger-than-expected sales of Apple Computer's (AAPL: news, chart, profile) iPod music players, which use Synaptics' technology.
Lee added that Synaptics estimates its current, third-quarter revenue will be flat versus the second quarter, as increased sales of digital music players is expected to counteract a typical decline in the notebook PC market.
Analysts currently estimate Synaptics will earn 19 cents a share, on $45 million in revenue, for the quarter.
Synaptics Inc. aktueller Kurs: $47.66 Ziel (Szenario Blau): $60.00 (+25.9%) Stop: $40.00 (-16.1%) aktuelle Kurs-/Unternehmensinformationen: [klick]
Kommentar: Synaptics konnte in den Turbulenzen des August' seinen Aufwärtstrend bestätigen und rast nun der oberen Begrenzung um 60 Dollar entgegen, welche bereits mehr als 24 Monate anhält. In diesem steigenden Dreieck hat sich nun ein untergeordneter Uptrend gebildet, der aktuell auf die Probe gestellt wird. Kann die Aktie hier abprallen, geht es relativ schnell in Richtung 55 und dann sogar 60 US-Dollar. Ein Durchbruch nach unten hätte kurzfristig einen Abrutsch gen 45 Dollar zur Folge. Vorsichtige Anleger sichern ihre Position bereits bei 43 Dollar, der etwas offensivere Investor legt den Stopploss genau bei 40 Dollar.
Synaptics Reports First Quarter Fiscal 2014 Results 24.10.13 PR Newswire SAN JOSE, Calif., Oct. 24, 2013
SAN JOSE, Calif., Oct. 24, 2013 /PRNewswire/ -- Synaptics (NASDAQ: SYNA), a leading developer of human interface solutions, today reported financial results for its first quarter ended September 30, 2013.
Net revenue of $222.6 million for the first quarter of fiscal 2014 was a record for a September quarter and increased 75% compared with $127.0 million for the comparable quarter last year. Net income for the first quarter of fiscal 2014 was $34.9 million, or $1.00 per diluted share, compared with net income of $6.1 million, or $0.18 per diluted share, for the comparable quarter last year.
Non-GAAP net income for the first quarter of fiscal 2014 was $45.9 million, or $1.31 per diluted share. Non-GAAP net income was $12.7 million, or $0.37 per diluted share, for the first quarter of fiscal 2013. (See attached table for a reconciliation of GAAP to non-GAAP financial measures.)
"In addition to posting substantial revenue growth during the fiscal first quarter, we made strong progress on a number of fronts," stated Rick Bergman, President and CEO. "We saw a growing number of devices deploy our on-cell and in-cell display integrated solutions, continued to gain traction in the China mobile market, and broadened our customer base in large touchscreens through key new design wins in tablets and touch-enabled notebooks. Following a strong first quarter, the first half of the fiscal year is tracking according to plan, and we expect to post top-line growth in excess of 50% over the same period last year."
"We recently announced Synaptics' entry into the fast growing fingerprint ID market through a definitive agreement to acquire Validity. We believe this acquisition reinforces our market leadership in human interface technology while significantly expanding our market opportunity," concluded Mr. Bergman.
First Quarter 2014 Business Metrics ?Revenue mix from mobile and PC products was approximately 73% and 27%, respectively. ?Revenue from mobile products of $162.7 million was up 152% year-over-year and down 6% sequentially. Mobile products revenue includes all touchscreen and video display products. ?Revenue from PC products totaled $59.9 million, a decrease of 4% year-over-year and an increase of 5% sequentially. ?Gross margin was 49.1%, an increase of 140 basis points year-over-year.
Cash at September 30, 2013 was $331.6 million. Cash flow from operations for the first quarter was $28.9 million. The company used $50.0 million to repurchase 1.2 million shares of common stock.
Kathy Bayless, CFO, added, "The September quarter benefitted from greater strength in mobile revenue than anticipated based on the timing of customer channel fill ahead of the holiday season. Considering our backlog of approximately $117.0 million entering the typically front-end loaded December quarter, customer forecasts, and the resulting expected product mix, we anticipate revenue (exclusive of the impending closure of the acquisition of Validity) to be in the range of $192.0 million to $208.0 million for the second quarter, an increase of 34% to 45% on a year-over-year basis."
Thursday, October 10, 2013, 12:06 pm PT (03:06 pm ET)
Synaptics buys Samsung partner Validity to take on Apple's AuthenTec Touch ID feature
By Daniel Eran Dilger Touchpad vendor Synaptics has announced plans to acquire Validity Sensors, a primary remaining fingerprint sensor vendor following Apple's acquisition of AuthenTec last year, and a reported supplier involved in Samsung's delayed efforts to match the iPhone's Touch ID fingerprint sensing technology.
Die ersten Anbieter von Fingerabdruck-Scannern in Smartphones waren Fujitsu und Motorola - beide nicht gerade vom Erfolg gekrönt. Im Jahr 2012 hatte Apple den Sensor-Spezialisten AuthenTec erworben. Nun verfügt das aktuelle iPhone 5s über Fingerabdruck-Sensoren. Offenbar plant Synaptics ein ähnliches Feature, denn nun übernahm das Unternehmen den Scan-Wettbewerber Validity Sensors. Wie AuthenTec hat sich auch Validity Sensors auf das Scannen von Fingerabdrücken spezialisiert, eine Technologie, die sich auch in andere Smartphones installieren lässt. In der Vergangenheit hat offenbar auch Samsung mit Validity an Fingerabdruck-Sensoren gearbeitet. Bislang stellte Synaptics vorwiegend Touch-Pads für Notebooks und Chips für Touch-Sensoren in Smartphones her. Durch die Übernahme von Validity Sensors kann Synaptics sein Produktportfolio nun erweitern.
Synaptics Inc. (WKN: 529873) ist ein Produzent von Computer-Bedienungsgeräten und Spezialist für Touch-Pad-Technologien. Durch die Übernahme von Validity Sensors könnte Synaptics bald ähnliche ID-Technologien wie Apple dem Wettbewerber Samsung anbieten. Jüngst kündigte Apple an, auch zukünftige Produkte mit Touch-ID-Technologie auszurüsten. (gng/rem)
Synaptics Incorporated (NASDAQ: SYNA) develops, markets, and sells custom-designed human interface solutions for electronic devices and products primarily in China, South Korea, Taiwan, Japan, and the United States. The company offers its human interface solutions for mobile product applications, including smartphones and feature phones, tablets, large touchscreen applications, and global positioning devices, as well as mobile, handheld, wireless, and entertainment devices; and other personal computer (PC) product applications. SYNA closed up over 3% on slightly above average daily volume of 1.8 Milliion shares by the market close on Tuesday (10/29/13) and was also trading up very slight in afterhours trading..
Investor's Alert: Synaptics, Incorporated (NASDAQ:SYNA), Amazon.com, Inc. (NASDAQ:AMZN), SINA Corp (NASDAQ:SINA), SunPower Corporation
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Lewes, DE -- (SBWIRE) -- 10/29/2013 -- LeadingStockAlerts is a financial marketing firm that specializes in assisting the underserved small cap and micro-cap stock community. Out Today?s Focus is on: Synaptics, Incorporated (NASDAQ:SYNA), Amazon.com, Inc. (NASDAQ:AMZN), SINA Corp (NASDAQ:SINA), SunPower Corporation (NASDAQ:SPWR).
Synaptics, Incorporated (NASDAQ:SYNA), increased3.75% and closed at $46.50 on a traded volume of 3.67 million shares, in comparison to 1.37 million shares of average trading volume. So far this year, the stock is up over 55.16%.
The company has a total market capitalization of $1.50million and its total outstanding shares are 32.34 million.
Synaptics, Incorporated (NASDAQ:SYNA) declined -15.50%, trading on 5.69 million shares, to end the trade at $44.82. The stock changed hands in a range of $44.46 to $49.89, bringing its market capitalization to about $1.45 billion. If we look at its trading history of the past 52 weeks, the share price suffered a low of $22.94 and was moved to the maximum level of $56.50. Synaptics Incorporated is a developer and supplier of custom-designed human interface solutions that enable people to interact with a range of mobile computing, communications, entertainment, and other electronic devices. The Company focuses on the personal computer ( PC) market, primarily notebook computers, including ultrabooks, the markets for digital lifestyle products, including mobile smartphones and feature phones, the tablet market, and other select electronic device markets with its customized human interface solutions.
Synaptics ist der marktführende Hersteller von Touchpads und Software für diese. Außerdem werden die Sensorelemente von Synaptics auch in verschiedenen anderen Anwendungen als Benutzerschnittstellen verwendet, wie den Touchscreens von Smartphones. Synaptics ist derzeit an der NASDAQ notiert.
The $92.5 million deal gives Synaptics both access to the biometric market as well as a complement to its existing touch input devices. While the company isn't detailing its plans, it's easy to see the potential impact. When Synaptics makes the majority of laptop trackpads, there's a real chance that fingerprint sign-ins on PCs could become commonplace.
Synaptics kauft Validity Sensors, Inc. Headquartered in San Jose, California, Validity is the world leader in Natural ID? authentication, providing fingerprint sensors with the highest levels of performance, security, cost-effectiveness, and design flexibility.