Synaptics Inc Q2 Profit Increases, beats estimates

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

The company's earnings totaled $69.5 million, or $1.71 per share. This compares with $49.6 million, or $1.36 per share, in last year's second quarter.

Excluding items, Synaptics Inc reported adjusted earnings of $132.8 million or $3.26 per share for the period.

Analysts on average had expected the company to earn $3.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.6% to $420.5 million from $357.6 million last year.

Synaptics Inc earnings at a glance (GAAP) :

-Earnings (Q2): $69.5 Mln. vs. $49.6 Mln. last year. -EPS (Q2): $1.71 vs. $1.36 last year. -Analyst Estimate: $3.10 -Revenue (Q2): $420.5 Mln vs. $357.6 Mln last year.

-Guidance: Next quarter revenue guidance: $450 - $480 Mln