Synaptics Inc Q3 Profit Decreases, but beats estimates

(RTTNews) - Synaptics Inc (SYNA) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $10.4 million, or $0.26 per share. This compares with $64.9 million, or $1.59 per share, in last year's third quarter.

Excluding items, Synaptics Inc reported adjusted earnings of $75.3 million or $1.89 per share for the period.

Analysts on average had expected the company to earn $1.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.5% to $326.6 million from $470.1 million last year.

Synaptics Inc earnings at a glance (GAAP) :

-Earnings (Q3): $10.4 Mln. vs. $64.9 Mln. last year. -EPS (Q3): $0.26 vs. $1.59 last year. -Analyst Estimates: $1.86 -Revenue (Q3): $326.6 Mln vs. $470.1 Mln last year.

-Guidance: Next quarter revenue guidance: $210 - $240 Mln