Synaptics Inc Q1 Profit Increases, beats estimates

(RTTNews) - Synaptics Inc (SYNA) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $64.6 million, or $1.59 per share. This compares with $40.2 million, or $0.99 per share, in last year's first quarter.

Excluding items, Synaptics Inc reported adjusted earnings of $143.1 million or $3.52 per share for the period.

Analysts on average had expected the company to earn $3.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.2% to $448.1 million from $372.7 million last year.

Synaptics Inc earnings at a glance (GAAP) :

-Earnings (Q1): $64.6 Mln. vs. $40.2 Mln. last year. -EPS (Q1): $1.59 vs. $0.99 last year. -Analyst Estimate: $3.31 -Revenue (Q1): $448.1 Mln vs. $372.7 Mln last year.

-Guidance: Next quarter revenue guidance: $350M to $380 Mln