SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported fiscal second-quarter profit of $19.8 million.
The San Jose, California-based company said it had profit of 58 cents per share. Earnings, adjusted for stock option expense and restructuring costs, were $2.04 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The maker of touch-screen technology posted revenue of $388.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $354.4 million.
For the current quarter ending in April, Synaptics said it expects revenue in the range of $330 million to $350 million. Analysts surveyed by Zacks had expected revenue of $302 million.
Synaptics shares have climbed roughly 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $70.10, an increase of 68% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYNA at https://www.zacks.com/ap/SYNA
Automated Insights, source Associated Press News