SAN JOSE, Calif. (AP) _ Synaptics Inc. (SYNA) on Wednesday reported fiscal fourth-quarter net income of $90 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Jose, California-based company said it had net income of $2.55. Earnings, adjusted for one-time gains and costs, came to $1.24 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The maker of touch-screen technology posted revenue of $277.6 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $278.4 million.
For the year, the company reported net income of $118.8 million, or $3.41 per share, swinging to a profit in the period. Revenue was reported as $1.33 billion.
For the current quarter ending in October, Synaptics said it expects revenue in the range of $315 million to $335 million. Analysts surveyed by Zacks had expected revenue of $292.2 million.
Synaptics shares have risen 26% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $82.70, nearly tripling 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