Synaptics Guides Higher

Shares rise.
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Synaptics (SYNA) - Get Report rose 7% late Thursday after posting solid first-quarter earnings and guiding higher.

The Santa Clara, Calif., electronics supplier made $4.1 million, or 15 cents a share, for the quarter ended Sept. 30, down from the year-ago $5.5 million, or 20 cents a share. Revenue rose to $54.8 million from $51.7 million a year earlier.

Earnings were 23 cents a share excluding compensation expense.

Analysts were looking for a 21-cent profit on sales of $54 million.

"Based on our current visibility, which includes a 53% increase in our backlog to $43.9 million, we now expect sequential revenue growth in the fourteen week December quarter of 25% to 35%," the company said. "This outlook is predicated on continued strong seasonal trends, with increased demand from both PC and non-PC applications. We expect revenue in the March quarter to approach September quarter levels, largely dependent on December quarter sell through and consumer demand relative to seasonal trends in the first calendar quarter. Finally, we are raising our outlook for fiscal 2007 revenue growth to a range of 25% to 30% over the prior year."

Shares rose $1.91 to $26.