SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Thursday reported fiscal third-quarter profit of $5 million.
The San Jose, California-based company said it had net income of 14 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were $1.49 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The maker of touch-screen technology posted revenue of $328.1 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $337 million.
For the current quarter ending in June, Synaptics said it expects revenue in the range of $260 million to $290 million. Analysts surveyed by Zacks had expected revenue of $293.4 million.
Synaptics shares have climbed nearly 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $69.01, more than doubling 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