Synaptics Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2011; Provides Earnings Guidance for Third Quarter of Fiscal 2012 and Provides Tax Rate Guidance for the Full Year of Fiscal 2012; Records Impairment Charges for the Second Quarter of Fiscal 2012
January 26, 2012 at 04:15 pm
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Synaptics Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2011. Net revenue for the second quarter of fiscal 2012 was $145.5 million compared with $159.6 million for the comparable quarter last year. Net income for the second quarter of fiscal 2012 was $17.4 million, or $0.51 per diluted share, compared with net income of $17.7 million, or $0.50 per diluted share, for the comparable quarter last year. Non-GAAP net income for the second quarter of fiscal 2012 was $23.0 million, or $0.68 per diluted share, compared with non-GAAP net income of $25.4 million, or $0.72 per diluted share, for the second quarter of fiscal 2011. Cash flow from operations for the second quarter of fiscal 2012 was $29.2 million. Operating income was $21,165,000 against $19,440,000 a year ago. Income before income taxes was $21,404,000 against $19,661,000 a year ago. Capital expenditures for the second quarter of fiscal 2012 were $2.3 million.
For the six months, the company reported net revenue of $278,916,000, operating income of $37,490,000, income before income taxes of $37,945,000, net income of $30,398,000 or $0.89 per diluted share against net revenue of $312,766,000, operating income of $41,800,000, income before income taxes of $42,238,000, net income of $36,377,000 or $1.02 per diluted share a year ago. Non-GAAP net income was $42,171,000 or $1.24 per diluted share against $49,651,000 or $1.39 per diluted share a year ago.
The company anticipates revenue for the third quarter to be in the range of $128.0 million to $136.0 million. Non-GAAP net income per diluted share is anticipated to be in the range of $0.47 to $0.56 per share. The company anticipates that non-GAAP tax rate for the March quarter and for the year will be in the range of 22% to 23%, reflecting its expected geographic profit mix.
For the quarter, the company recorded an impairment loss of $7,000.
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.
Synaptics Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2011; Provides Earnings Guidance for Third Quarter of Fiscal 2012 and Provides Tax Rate Guidance for the Full Year of Fiscal 2012; Records Impairment Charges for the Second Quarter of Fiscal 2012