Synaptics Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Earnings Guidance for the Quarter Ending March 2016
January 28, 2016 at 04:15 pm
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Synaptics Incorporated reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported net income of $35.0 million or $0.93 per diluted share compared to $21.0 million or $0.55 per diluted share a year ago. Net revenue was $470.5 million compared to $463.7 million a year ago. Operating income was $45.3 million compared to $30.0 million a year ago. Income before provision for income taxes was $44.5 million compared to $29.3 million a year ago. Non-GAAP operating income was $73.7 million compared to $68.1 million a year ago. Non-GAAP net income was $60.3 million or $1.60 per diluted share compared to $55.5 million or $1.46 per diluted share a year ago. Cash flow from operations was $95 million. Capital expenditures were $5.2 million.
For the six months, the company reported net income of $58.8 million or $1.55 per diluted share compared to $47.6 million or $1.22 per diluted share a year ago. Net revenue was $940.5 million compared to $746.5 million a year ago. Operating income was $79.1 million compared to $66.3 million a year ago. Income before provision for income taxes was $77.5 million compared to $66.2 million a year ago. Non-GAAP operating income was $143.2 million compared to $117.1 million a year ago. Non-GAAP net income was $117.2 million or $3.08 per diluted share compared to $96.5 million or $2.48 per diluted share a year ago.
The company anticipates revenue for the March quarter to be in the range of $430 million to $470 million. The company expects non-GAAP gross margin to continue to improve for the March quarter to approximately 38% to 40%. Non-GAAP net income per diluted share for the March quarter is anticipated to be in the range of $1.35 to $1.65 per share.
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 Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Earnings Guidance for the Quarter Ending March 2016