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ISIN: US87157D1090 · WKN: 529873 · Symbol: SYNA
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Profile:Synaptics, Incorporated is a worldwide developer of custom-designed user interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing and communications devices. The Company`s pointing stick is designed to address the portion of the notebook market that uses the pointing stick as the interface solution. The Company`s pointing stick can be used with its touch pad to take advantage of the growing trend to dual pointing interface solutions. The Company`s OEM (original equipment manufacturer) customers include Acer, Apple, Compaq, Dell, Hewlett-Packard and Samsung, as well as Fujitsu/Siemens, IBM, NEC, Sony and Toshiba.
http://www.synaptics.com
http://www.synaptics.com
Synaptics Announces New Fingerprint TouchPad Module for Notebook PCs
Synaptics Fingerprint TouchPad Module Offers Data and Asset Protection And Convenient Password Replacement
SAN JOSE, Calif., June 24 /PRNewswire/ -- Synaptics, a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced the introduction of its Fingerprint TouchPad product, which is currently available for integration into notebook PCs. The module combines Synaptics` leading TouchPad interface device with the AuthenTec EntrePad(TM) AES3500 fingerprint sensor. The Fingerprint TouchPad module is bundled with customized Softex OmniPass application software and Softex OmniROM Preboot Authorization, offering notebook OEMs a complete integrated biometric security solution.
"As mobile devices become smaller, they increasingly become targets for theft and unauthorized access," explains Synaptics General Manager of PC Products, Don Kirby. "Synaptics Fingerprint TouchPad offers an advanced biometric solution that replaces the need for passwords with the user`s fingerprint, ultimately making computing easier and more secure."
The Synaptics Fingerprint TouchPad module offers unique software features such as the Omnipass Identity Management and the exclusive Single Touch Preboot Authorization to ensure both security and convenience. Preboot Authorization requires user identification before the operating system loads, preventing unauthorized access to both the hard drive and data, while the Omnipass Identity Management software manages passwords and identities. In addition, the OmniPass Enrollment Wizard, custom developed for Synaptics, guides users through the enrollment process. Designed for novice users, the Wizard ensures that anyone will be able to use this solution without a learning curve. In just four simple steps, users will be able to enroll for both BIOS and Windows access. Once the enrollment is complete, a user simply needs to place the enrolled finger on the fingerprint sensor once to complete the authentication process and proceed directly to the operating system.
As the only integrated Fingerprint TouchPad solution that comes complete with both hardware and software, the Fingerprint TouchPad makes the integration process simple for notebook OEMs. In addition, the unique modular design was developed to offer OEM customers maximum design flexibility by allowing OEMs and ODMs to offer both a biometric and non-biometric option without changes to the notebook`s mechanical design.
The Synaptics Fingerprint TouchPad is currently available for qualification by notebook OEMs.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About AuthenTec
AuthenTec is a leading semiconductor company providing advanced biometric fingerprint sensors to the PC, wireless, PDA, access control and automotive markets. AuthenTec`s FingerLoc and EntrePad product families utilize the Company`s patented TruePrint(TM) technology, the first technology capable of imaging everyone under virtually any condition. TruePrint images below the surface layer of the skin to the live layer where the true print resides, thereby eliminating surface-level contamination issues. AuthenTec`s products are the choice of leading industry hardware and software providers, ensuring compatibility across multiple platforms and applications. Based in Melbourne, Florida, AuthenTec has assembled a global network of partners, solution providers and customers including Texas Instruments, IBM, Delphi Automotive, Acer, Synaptics, Asus, Harris Corporation and SCM Microsystems. For more information, visit: www.authentec.com or call 321-308-1300.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics success in the PC market with the Fingerprint TouchPad product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
NOTE: Synaptics, the Synaptics logo, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics. All other trademarks are the property of their respective owners.
CONTACT: Mickie Boone of Horizon Communications, +1-408-969-4888, ext. 107, or mboone@horizonpr.com, for Synaptics Incorporated; or Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com.
SOURCE: Synaptics Incorporated
Synaptics Fingerprint TouchPad Module Offers Data and Asset Protection And Convenient Password Replacement
SAN JOSE, Calif., June 24 /PRNewswire/ -- Synaptics, a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced the introduction of its Fingerprint TouchPad product, which is currently available for integration into notebook PCs. The module combines Synaptics` leading TouchPad interface device with the AuthenTec EntrePad(TM) AES3500 fingerprint sensor. The Fingerprint TouchPad module is bundled with customized Softex OmniPass application software and Softex OmniROM Preboot Authorization, offering notebook OEMs a complete integrated biometric security solution.
"As mobile devices become smaller, they increasingly become targets for theft and unauthorized access," explains Synaptics General Manager of PC Products, Don Kirby. "Synaptics Fingerprint TouchPad offers an advanced biometric solution that replaces the need for passwords with the user`s fingerprint, ultimately making computing easier and more secure."
The Synaptics Fingerprint TouchPad module offers unique software features such as the Omnipass Identity Management and the exclusive Single Touch Preboot Authorization to ensure both security and convenience. Preboot Authorization requires user identification before the operating system loads, preventing unauthorized access to both the hard drive and data, while the Omnipass Identity Management software manages passwords and identities. In addition, the OmniPass Enrollment Wizard, custom developed for Synaptics, guides users through the enrollment process. Designed for novice users, the Wizard ensures that anyone will be able to use this solution without a learning curve. In just four simple steps, users will be able to enroll for both BIOS and Windows access. Once the enrollment is complete, a user simply needs to place the enrolled finger on the fingerprint sensor once to complete the authentication process and proceed directly to the operating system.
As the only integrated Fingerprint TouchPad solution that comes complete with both hardware and software, the Fingerprint TouchPad makes the integration process simple for notebook OEMs. In addition, the unique modular design was developed to offer OEM customers maximum design flexibility by allowing OEMs and ODMs to offer both a biometric and non-biometric option without changes to the notebook`s mechanical design.
The Synaptics Fingerprint TouchPad is currently available for qualification by notebook OEMs.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About AuthenTec
AuthenTec is a leading semiconductor company providing advanced biometric fingerprint sensors to the PC, wireless, PDA, access control and automotive markets. AuthenTec`s FingerLoc and EntrePad product families utilize the Company`s patented TruePrint(TM) technology, the first technology capable of imaging everyone under virtually any condition. TruePrint images below the surface layer of the skin to the live layer where the true print resides, thereby eliminating surface-level contamination issues. AuthenTec`s products are the choice of leading industry hardware and software providers, ensuring compatibility across multiple platforms and applications. Based in Melbourne, Florida, AuthenTec has assembled a global network of partners, solution providers and customers including Texas Instruments, IBM, Delphi Automotive, Acer, Synaptics, Asus, Harris Corporation and SCM Microsystems. For more information, visit: www.authentec.com or call 321-308-1300.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics success in the PC market with the Fingerprint TouchPad product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
NOTE: Synaptics, the Synaptics logo, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics. All other trademarks are the property of their respective owners.
CONTACT: Mickie Boone of Horizon Communications, +1-408-969-4888, ext. 107, or mboone@horizonpr.com, for Synaptics Incorporated; or Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com.
SOURCE: Synaptics Incorporated
Synaptics Added to Russell 2000(R) Index
SAN JOSE, Calif., July 2 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced that it has been added to the Russell 2000® Index, a leading benchmark of small-cap stocks compiled by the Frank Russell Company, one of the world`s leading investment management and advisory firms.
"Synaptics` addition to the Russell 2000 is a testament to our employees` hard work and focus in establishing the Company as the market leader of innovative interface solutions for the notebook market, an accomplishment we can all be proud of," said Francis Lee, President and Chief Executive Officer of Synaptics. "This is an important milestone in our efforts to increase our visibility with the financial community as we work toward continuing our growth by leveraging our interface technology in both existing and emerging markets."
Membership in Russell`s 21 U.S. equity indexes is determined strictly by market capitalization rankings and style attributes rather than by subjective opinion or committee decisions. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in index funds based on Russell`s indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company`s weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About the Frank Russell Company
Frank Russell Company, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages $70 billion in assets and advises clients worldwide representing US$1.8 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics` growth in both existing and new markets. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward- looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for CityOne products using Synaptics products, and (c) the failure of Synaptics products and CityOne products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For More information contact:
Jennifer Jarman
The blueshirt group for Synaptics
415-217-7722
jennifer@blueshirtgroup.com
SOURCE: Synaptics Incorporated
SAN JOSE, Calif., July 2 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced that it has been added to the Russell 2000® Index, a leading benchmark of small-cap stocks compiled by the Frank Russell Company, one of the world`s leading investment management and advisory firms.
"Synaptics` addition to the Russell 2000 is a testament to our employees` hard work and focus in establishing the Company as the market leader of innovative interface solutions for the notebook market, an accomplishment we can all be proud of," said Francis Lee, President and Chief Executive Officer of Synaptics. "This is an important milestone in our efforts to increase our visibility with the financial community as we work toward continuing our growth by leveraging our interface technology in both existing and emerging markets."
Membership in Russell`s 21 U.S. equity indexes is determined strictly by market capitalization rankings and style attributes rather than by subjective opinion or committee decisions. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in index funds based on Russell`s indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company`s weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About the Frank Russell Company
Frank Russell Company, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages $70 billion in assets and advises clients worldwide representing US$1.8 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics` growth in both existing and new markets. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward- looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for CityOne products using Synaptics products, and (c) the failure of Synaptics products and CityOne products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For More information contact:
Jennifer Jarman
The blueshirt group for Synaptics
415-217-7722
jennifer@blueshirtgroup.com
SOURCE: Synaptics Incorporated
WR Hambrecht + Co Initiates Coverage of Synaptics (SYNA) with a Market Perform Rating
SAN FRANCISCO, July 9 /PRNewswire/ -- WR Hambrecht + Co today initiated research coverage of Synaptics (SYNA) with a Market Perform rating. WR Hambrecht + Co`s Semiconductor analyst Satya Chillara cites Synaptics` market leadership in the interface solutions for mobile computing, diversification and expansion into new markets coupled with a concern about potential slowdown in the notebook market among reasons for the rating.
"We are encouraged about the Synaptics story as we expect the company to increase market share in the notebook computer market and to diversify into other new markets," said Satya Chillara. "However, we remain cautious because the 6-month IPO lock-up expires on July 28th which should put some pressure on the stock."
WR Hambrecht + Co expects Synaptics to report revenue of $99.3 million and $99.2 million and earnings per share of $0.44 and $0.38 for fiscal 2002 and 2003, respectively.
Synaptics is a leading developer of human interface solutions for a wide variety of mobile computing and communications devices.
The company dominates in the interface solutions for the mobile computing and communication related devices. We have compared Synaptics with consumer related chip stocks like Zoran, Cirrus Logic and system solution (chip+module) companies such as SanDisk and Lexar Media. This basket of ten companies is currently trading at EV/revenue of 1.5x based on calendar 2003E revenues; presently Synaptics is trading at EV/revenue of 1.5x. We do not have a price target, however, we would value the shares of the stock at 25x of CY2003E EPS of $0.41 on a long-term basis.
For important disclosures, visit http://www.wrhambrecht.com/ind/research/disclosures.html .
About WR Hambrecht + Co
WR Hambrecht + Co (www.wrhambrecht.com) is a financial services firm committed to using the Internet and auction process to level the playing field for investors and issuers. The firm`s impartial Internet-based auctions, which allow the market to determine pricing and allocation, are dramatically changing the financial services landscape. WR Hambrecht + Co provides underwriting and advisory services for technology and emerging growth companies, as well as equity research, sales and trading, full-service and online brokerage and private equity offerings for institutions and individuals. WR Hambrecht + Co has offices in San Francisco, New York, Boston and Philadelphia and is backed by industry leaders including: American Century, American Express, Crimson Ventures, epartners, Fidelity Ventures, Instinet Corporation, Novell, Park Avenue Equity Partners, LP, Scudder Technology Fund, Kemper Technology Fund and Texas Pacific Group.
WR Hambrecht + Co. is a member of the National Association of Securities Dealers, CRD number 45040.
SOURCE: WR Hambrecht + Co
SAN FRANCISCO, July 9 /PRNewswire/ -- WR Hambrecht + Co today initiated research coverage of Synaptics (SYNA) with a Market Perform rating. WR Hambrecht + Co`s Semiconductor analyst Satya Chillara cites Synaptics` market leadership in the interface solutions for mobile computing, diversification and expansion into new markets coupled with a concern about potential slowdown in the notebook market among reasons for the rating.
"We are encouraged about the Synaptics story as we expect the company to increase market share in the notebook computer market and to diversify into other new markets," said Satya Chillara. "However, we remain cautious because the 6-month IPO lock-up expires on July 28th which should put some pressure on the stock."
WR Hambrecht + Co expects Synaptics to report revenue of $99.3 million and $99.2 million and earnings per share of $0.44 and $0.38 for fiscal 2002 and 2003, respectively.
Synaptics is a leading developer of human interface solutions for a wide variety of mobile computing and communications devices.
The company dominates in the interface solutions for the mobile computing and communication related devices. We have compared Synaptics with consumer related chip stocks like Zoran, Cirrus Logic and system solution (chip+module) companies such as SanDisk and Lexar Media. This basket of ten companies is currently trading at EV/revenue of 1.5x based on calendar 2003E revenues; presently Synaptics is trading at EV/revenue of 1.5x. We do not have a price target, however, we would value the shares of the stock at 25x of CY2003E EPS of $0.41 on a long-term basis.
For important disclosures, visit http://www.wrhambrecht.com/ind/research/disclosures.html .
About WR Hambrecht + Co
WR Hambrecht + Co (www.wrhambrecht.com) is a financial services firm committed to using the Internet and auction process to level the playing field for investors and issuers. The firm`s impartial Internet-based auctions, which allow the market to determine pricing and allocation, are dramatically changing the financial services landscape. WR Hambrecht + Co provides underwriting and advisory services for technology and emerging growth companies, as well as equity research, sales and trading, full-service and online brokerage and private equity offerings for institutions and individuals. WR Hambrecht + Co has offices in San Francisco, New York, Boston and Philadelphia and is backed by industry leaders including: American Century, American Express, Crimson Ventures, epartners, Fidelity Ventures, Instinet Corporation, Novell, Park Avenue Equity Partners, LP, Scudder Technology Fund, Kemper Technology Fund and Texas Pacific Group.
WR Hambrecht + Co. is a member of the National Association of Securities Dealers, CRD number 45040.
SOURCE: WR Hambrecht + Co
http://www.redherring.com/insider/2002/0702/synaptics070202.…
POINT AND CLICK
Synaptics: nothing touchy-feely about it
Laptop touch pad maker shows its patience never wears thin.
By Dean Takahashi
July 2, 2002
The first successful technology IPO of 2002 was a long time in the making. Synaptics had waited 16 years before going public in February. And then it managed to do so in a dismal financial environment. Synaptics is proof that patience is back in style.
Federico Faggin, the former Intel engineer who is credited with co-inventing the microprocessor, cofounded Synaptics in 1986 with computer scientist Carver Mead, the famed inventor of automated chip-design techniques. With Synaptics, they wanted to develop an "intelligent systems" technology that would process sensory patterns more like the brain does. This led them to focus on neural networks, which can process multiple streams of data in parallel, or simultaneously, and have a limited ability to "learn" concepts and apply them to future situations.
In the `80s, researchers were still excited about the progress of artificial intelligence research, and Mr. Faggin and Mr. Mead were optimistic about how quickly machines could be taught to think. It wound up taking them eight years to find ways that computers could be as smart as humans. Their technology`s first application was handwriting recognition for the U.S. Postal Service. Fortunately, the $18.5 million in venture funding they ultimately raised would last until their IPO.
Then, in 1994, Synaptics created the touch pad, the little sensor on laptop computers that detects the position and pressure of a person`s finger on its surface. Powered by a neural network, the touch pad has proven to be the most accurate and quickest way to move the cursor around a laptop screen. It`s now used on 55 percent of laptops. Meanwhile, 29 percent of laptops feature touch sticks--a touch-sensitive padded stick to which laptop users apply pressure with their index finger to move the screen cursor. Pioneered by IBM, the touch stick is now manufactured by Synaptics. Finally, 10 percent of laptops come with both touch pads and touch sticks, and most of these dual touch stick/pads are supplied by Synaptics. It may not be the mother lode of artificial intelligence (although a touch pad packs more electronic smarts than were in the Apple II), but it`s a product that people like--and a market that Synaptics dominates. Last year Synaptics made 61 percent of all touch pads in new laptops, with volume reaching into the tens of millions.
During the Internet boom, Synaptics felt the pressure to go public. Investment bankers warned the company that it was missing a historic chance to cash in. But Mr. Faggin felt the markets wouldn`t reward a company that just built touch pads. "The funding environment back then was a lot of madness," he says. "In that climate, there wasn`t much room for us."
The payoff for patience has arrived. Synaptics reported 43 percent year-over-year revenue growth to $26.4 million in its second quarter (ended December), from $18.4 million in the same period the previous year, while net income for the quarter was a healthy $2.8 million compared with a loss a year ago. Analysts are forecasting 33 percent revenue growth for fiscal 2002 (ending June) and 28 percent for fiscal 2003.
To accelerate this growth, the company last year appointed a new president and CEO, Francis Lee, and Mr. Faggin became chairman. Mr. Lee is leading Synaptics into new markets, like remote controls for TV sets in Asia, cell phones, and touch-sensitive displays for handheld devices, all while the company is conducting research on pattern-recognition technologies for voice, vision, and touch.
Synaptics`s move into new markets has helped spark still more innovations. Toshiba`s new laptop features a Synaptics "clear pad," a see-through pad that can be customized by the user to control different laptop functions. In China, Synaptics is shipping a handwriting-recognition technology to PC makers along with its touch pads. The company is pushing touch technology beyond the PC, reaching for new applications and hoping that pattern-recognition technology pays off by allowing machines to perform tasks that humans would prefer not to do.
Meanwhile, core market revenue is healthy enough to finance still more research. Sales of notebook computers over the next four years are expected to grow 12 percent a year, according to the IT research firm IDC. Synaptics`s IPO raised $50 million that it can keep in the bank, and the stock has been trading well above its opening share price of $11. In explaining how Synaptics approaches growth, Mr. Lee emphasizes basics like innovative technology, profits, and moderate growth. This is the way high-tech firms are supposed to operate. "I`m so glad we took the route we did," Mr. Lee says.
Write to Dean Takahashi.
POINT AND CLICK
Synaptics: nothing touchy-feely about it
Laptop touch pad maker shows its patience never wears thin.
By Dean Takahashi
July 2, 2002
The first successful technology IPO of 2002 was a long time in the making. Synaptics had waited 16 years before going public in February. And then it managed to do so in a dismal financial environment. Synaptics is proof that patience is back in style.
Federico Faggin, the former Intel engineer who is credited with co-inventing the microprocessor, cofounded Synaptics in 1986 with computer scientist Carver Mead, the famed inventor of automated chip-design techniques. With Synaptics, they wanted to develop an "intelligent systems" technology that would process sensory patterns more like the brain does. This led them to focus on neural networks, which can process multiple streams of data in parallel, or simultaneously, and have a limited ability to "learn" concepts and apply them to future situations.
In the `80s, researchers were still excited about the progress of artificial intelligence research, and Mr. Faggin and Mr. Mead were optimistic about how quickly machines could be taught to think. It wound up taking them eight years to find ways that computers could be as smart as humans. Their technology`s first application was handwriting recognition for the U.S. Postal Service. Fortunately, the $18.5 million in venture funding they ultimately raised would last until their IPO.
Then, in 1994, Synaptics created the touch pad, the little sensor on laptop computers that detects the position and pressure of a person`s finger on its surface. Powered by a neural network, the touch pad has proven to be the most accurate and quickest way to move the cursor around a laptop screen. It`s now used on 55 percent of laptops. Meanwhile, 29 percent of laptops feature touch sticks--a touch-sensitive padded stick to which laptop users apply pressure with their index finger to move the screen cursor. Pioneered by IBM, the touch stick is now manufactured by Synaptics. Finally, 10 percent of laptops come with both touch pads and touch sticks, and most of these dual touch stick/pads are supplied by Synaptics. It may not be the mother lode of artificial intelligence (although a touch pad packs more electronic smarts than were in the Apple II), but it`s a product that people like--and a market that Synaptics dominates. Last year Synaptics made 61 percent of all touch pads in new laptops, with volume reaching into the tens of millions.
During the Internet boom, Synaptics felt the pressure to go public. Investment bankers warned the company that it was missing a historic chance to cash in. But Mr. Faggin felt the markets wouldn`t reward a company that just built touch pads. "The funding environment back then was a lot of madness," he says. "In that climate, there wasn`t much room for us."
The payoff for patience has arrived. Synaptics reported 43 percent year-over-year revenue growth to $26.4 million in its second quarter (ended December), from $18.4 million in the same period the previous year, while net income for the quarter was a healthy $2.8 million compared with a loss a year ago. Analysts are forecasting 33 percent revenue growth for fiscal 2002 (ending June) and 28 percent for fiscal 2003.
To accelerate this growth, the company last year appointed a new president and CEO, Francis Lee, and Mr. Faggin became chairman. Mr. Lee is leading Synaptics into new markets, like remote controls for TV sets in Asia, cell phones, and touch-sensitive displays for handheld devices, all while the company is conducting research on pattern-recognition technologies for voice, vision, and touch.
Synaptics`s move into new markets has helped spark still more innovations. Toshiba`s new laptop features a Synaptics "clear pad," a see-through pad that can be customized by the user to control different laptop functions. In China, Synaptics is shipping a handwriting-recognition technology to PC makers along with its touch pads. The company is pushing touch technology beyond the PC, reaching for new applications and hoping that pattern-recognition technology pays off by allowing machines to perform tasks that humans would prefer not to do.
Meanwhile, core market revenue is healthy enough to finance still more research. Sales of notebook computers over the next four years are expected to grow 12 percent a year, according to the IT research firm IDC. Synaptics`s IPO raised $50 million that it can keep in the bank, and the stock has been trading well above its opening share price of $11. In explaining how Synaptics approaches growth, Mr. Lee emphasizes basics like innovative technology, profits, and moderate growth. This is the way high-tech firms are supposed to operate. "I`m so glad we took the route we did," Mr. Lee says.
Write to Dean Takahashi.
Synaptics Reports Fourth Quarter and Year-end Financial Results
- Fourth Quarter Revenues of $25.8 Million Up 19.3% Year Over Year; Over 3X Increase in Net Income - Annual Revenues of $100.2 Million Increase 36% Over Prior Year; Net Income Grows More Than Ten-fold
SAN JOSE, Calif., Aug. 1 /PRNewswire-FirstCall/ -- Synaptics, a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the fourth quarter and year ended June 30, 2002.
Net revenue for the fourth quarter of fiscal 2002 was $25.8 million, a 19.3% increase compared to $21.6 million for the fourth quarter of the prior fiscal year. Pro forma net income for the fourth quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $2.7 million, or $0.12 per basic share and $0.10 per diluted share. This compares to pro forma net income of $923,000, or $0.14 per basic share and $0.05 per diluted share, for the fourth quarter of the prior fiscal year.
Actual (GAAP) net income for the fourth quarter of fiscal 2002 was $2.6 million, or $0.11 per basic share and $0.10 per diluted share. This compares with actual net income of $600,000, or $0.09 per basic share and $0.03 per diluted share, for the fourth quarter of fiscal 2001. Earnings per diluted share for the current fiscal quarter include the impact of an additional 6.0 million weighted average shares outstanding primarily resulting from the Company`s January 2002 initial public offering.
Net revenue for the year ended June 30, 2002 was $100.2 million compared to net revenue of $73.7 million for the prior fiscal year. Pro forma net income, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $10.0 million, or $0.74 per basic share and $0.44 per diluted share, for fiscal year 2002 compared to pro forma net income of $2.2 million, or $0.36 per basic share and $0.11 per diluted share, for the prior fiscal year.
Actual net income for the year ended June 30, 2002 was $9.4 million, or $0.70 per basic share and $0.42 per diluted share. This compares with actual net income of $810,000, or $0.13 per basic share and $0.04 per diluted share, in the prior fiscal year. Earnings per diluted share for fiscal year 2002 include the impact of an additional 2.7 million weighted average shares outstanding primarily resulting from the Company`s January 2002 initial public offering.
"We are pleased to report strong fourth quarter and annual results, marking good progress in our core notebook market and encouraging design activity in new markets," stated Francis Lee, President and CEO of Synaptics. "Looking forward, the overall economic weakness and resulting softness in both consumer and corporate spending has led to excess channel inventory and continued near-term uncertainty in the PC industry. We are therefore anticipating a sequential decline in revenues for the first quarter of fiscal 2003 in the range of 10 to 15 percent. While visibility is limited, we expect revenues to be up sequentially in the seasonally stronger December quarter. We continue to execute on our business model in a difficult market and believe that we have gained share in the past year based on the value proposition we offer our OEM customers. Our recent design wins in the notebook market and our ongoing progress with new market initiatives gives us continued confidence in Synaptics` prospects for long-term growth."
Recent Highlights
Synaptics recently:
-- Secured its first design win for its Fingerprint TouchPad product. The
module combines Synaptics` leading TouchPad interface device with the
AuthenTec EntrePad(TM) AES3500 fingerprint sensor and offers notebook
OEMs a complete integrated biometric security solution.
-- Announced an agreement to develop and manufacture a TouchPad module
for short text message input for integration into CityOne public
access telephones in China. The module will combine Synaptics`
proprietary QuickStroke(R) Chinese character recognition software and
capacitive TouchPad for easy integration into public telephones.
Products under this agreement are expected to begin shipping within
the next 12 months.
-- Commenced shipments of its capacitive touch technology for a leading
portable jukebox device, thus introducing Synaptics` technology into
the rapidly growing digital music market.
-- Appointed Ron Van Dell to its board of directors, who brings extensive
experience in the voice interface, PC, and semiconductor industries.
Van Dell is president and CEO of Legerity, an analog/mixed signal IC
company focusing on next-generation voice and data networks, and also
serves on the board of directors of IceFyre, a leading provider of
5 GHz wireless LAN products.
-- Was added to the Russell 2000(R) index and was selected as a member of
the Red Herring 100, which recognizes the top 50 public and the top 50
private companies whose services, business models, products and
quality of management define business innovation.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software application. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, competitive position and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` products (b) market demand for OEM`s products using Synaptics products, and (c) the failure of Synaptics` products and OEM`s products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s Registration Statement on Form S-1. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Russ Knittel of Synaptics Incorporated, 408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, 415-217-7722, or jennifer@blueshirtgroup.com, for Synaptics Incorporated.
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)
Three Months Ended Twelve Months Ended
June 30, June 30,
2002 2001 2002 2001 (A)
Net revenue $25,809 $21,631 $100,201 $73,698
Cost of revenue 14,836 14,752 59,016 50,811
Gross margin 10,973 6,879 41,185 22,887
Operating expenses
Research and
development 4,714 3,285 16,594 11,590
Selling, general,
and administrative 2,422 2,535 9,873 9,106
Amortization of
goodwill and
other acquired
intangible assets 30 204 134 784
Amortization of
deferred stock
compensation 90 119 453 597
Total operating
expenses 7,256 6,143 27,054 22,077
Operating income 3,717 736 14,131 810
Interest income 290 54 522 363
Interest expense (41) (46) (197) (183)
Income before
income taxes 3,966 744 14,456 990
Provision for
income taxes 1,393 144 5,056 180
Net income $2,573 $600 $9,400 $810
Net income per
share:
Basic $0.11 $0.09 $0.70 $0.13
Diluted $0.10 $0.03 $0.42 $0.04
Shares used in
computing net
income per share:
Basic 23,179,283 6,491,717 13,523,443 6,133,866
Diluted 25,957,125 19,963,567 22,544,461 19,879,491
Pro forma results
(unaudited)
Reported net
income $2,573 $600 $9,400 $810
Pro forma
adjustments:
Amortization
of goodwill
and other
acquired
intangible
assets 30 204 134 784
Amortization
of deferred
stock compensation 90 119 453 597
Pro forma net
income $2,693 $923 $9,987 $2,191
Pro forma
earnings per
share
Basic $0.12 $0.14 $0.74 $0.36
Diluted $0.10 $0.05 $0.44 $0.11
(A)"Derived from the Company`s audited financial statements as of
June 30, 2001, included in the Company`s registration statement on
Form S-1 filed with the Securities and Exchange Commission."
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share
amounts)
(unaudited)
June 30, June 30,
2002 2001 (A)
Assets
Current assets:
Cash and cash equivalents $45,491 $3,766
Short term investments 19,689 --
Accounts receivable, net of
allowances of $ 200 and $125
at June 30,2002 and June 30,
2001, respectively 13,242 12,245
Inventories 5,867 7,290
Prepaid expenses and other
current assets 2,964 651
Total current assets 87,253 23,952
Property and equipment, net 2,043 1,795
Goodwill 765 765
Other acquired intangible assets,
net 40 174
Other assets 280 471
Total assets $90,381 $27,157
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $5,867 $7,289
Accrued compensation 2,161 1,563
Accrued warranty 1,002 509
Income taxes payable 2,646 522
Other accrued liabilities 1,814 549
Capital leases and equipment
financing obligations 445 546
Total current liabilities 13,935 10,978
Capital leases and equipment
financing obligations, net of
current portion 259 329
Note payable to a related party 1,500 1,500
Other liabilities 684 596
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000
shares authorized; 8,170,207
issued and outstanding June
30, 2001 and no shares
issued and outstanding at
June 30, 2002 -- 18,650
Common stock;
$.001 par value; 60,000,000
shares authorized; 23,182,758
and 6,601,849 shares issued
and outstanding,
respectively 23 6,194
Additional paid in capital 75,013 --
Deferred stock compensation (1,085) (1,649)
Notes receivable from
stockholders (876) (906)
Retained earnings/(accumulated
deficit) 865 (8,535)
Accumulated other comprehensive
income 63 --
Total stockholders` equity 74,003 13,754
Total liabilities and stockholders`
equity $90,381 $27,157
(A)"Derived from the Company`s audited financial statements as of
June 30, 2001, included in the in the Company`s registration statement
on Form S-1 filed with the Securities and Exchange Commission."
SOURCE: Synaptics Incorporated
- Fourth Quarter Revenues of $25.8 Million Up 19.3% Year Over Year; Over 3X Increase in Net Income - Annual Revenues of $100.2 Million Increase 36% Over Prior Year; Net Income Grows More Than Ten-fold
SAN JOSE, Calif., Aug. 1 /PRNewswire-FirstCall/ -- Synaptics, a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the fourth quarter and year ended June 30, 2002.
Net revenue for the fourth quarter of fiscal 2002 was $25.8 million, a 19.3% increase compared to $21.6 million for the fourth quarter of the prior fiscal year. Pro forma net income for the fourth quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $2.7 million, or $0.12 per basic share and $0.10 per diluted share. This compares to pro forma net income of $923,000, or $0.14 per basic share and $0.05 per diluted share, for the fourth quarter of the prior fiscal year.
Actual (GAAP) net income for the fourth quarter of fiscal 2002 was $2.6 million, or $0.11 per basic share and $0.10 per diluted share. This compares with actual net income of $600,000, or $0.09 per basic share and $0.03 per diluted share, for the fourth quarter of fiscal 2001. Earnings per diluted share for the current fiscal quarter include the impact of an additional 6.0 million weighted average shares outstanding primarily resulting from the Company`s January 2002 initial public offering.
Net revenue for the year ended June 30, 2002 was $100.2 million compared to net revenue of $73.7 million for the prior fiscal year. Pro forma net income, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $10.0 million, or $0.74 per basic share and $0.44 per diluted share, for fiscal year 2002 compared to pro forma net income of $2.2 million, or $0.36 per basic share and $0.11 per diluted share, for the prior fiscal year.
Actual net income for the year ended June 30, 2002 was $9.4 million, or $0.70 per basic share and $0.42 per diluted share. This compares with actual net income of $810,000, or $0.13 per basic share and $0.04 per diluted share, in the prior fiscal year. Earnings per diluted share for fiscal year 2002 include the impact of an additional 2.7 million weighted average shares outstanding primarily resulting from the Company`s January 2002 initial public offering.
"We are pleased to report strong fourth quarter and annual results, marking good progress in our core notebook market and encouraging design activity in new markets," stated Francis Lee, President and CEO of Synaptics. "Looking forward, the overall economic weakness and resulting softness in both consumer and corporate spending has led to excess channel inventory and continued near-term uncertainty in the PC industry. We are therefore anticipating a sequential decline in revenues for the first quarter of fiscal 2003 in the range of 10 to 15 percent. While visibility is limited, we expect revenues to be up sequentially in the seasonally stronger December quarter. We continue to execute on our business model in a difficult market and believe that we have gained share in the past year based on the value proposition we offer our OEM customers. Our recent design wins in the notebook market and our ongoing progress with new market initiatives gives us continued confidence in Synaptics` prospects for long-term growth."
Recent Highlights
Synaptics recently:
-- Secured its first design win for its Fingerprint TouchPad product. The
module combines Synaptics` leading TouchPad interface device with the
AuthenTec EntrePad(TM) AES3500 fingerprint sensor and offers notebook
OEMs a complete integrated biometric security solution.
-- Announced an agreement to develop and manufacture a TouchPad module
for short text message input for integration into CityOne public
access telephones in China. The module will combine Synaptics`
proprietary QuickStroke(R) Chinese character recognition software and
capacitive TouchPad for easy integration into public telephones.
Products under this agreement are expected to begin shipping within
the next 12 months.
-- Commenced shipments of its capacitive touch technology for a leading
portable jukebox device, thus introducing Synaptics` technology into
the rapidly growing digital music market.
-- Appointed Ron Van Dell to its board of directors, who brings extensive
experience in the voice interface, PC, and semiconductor industries.
Van Dell is president and CEO of Legerity, an analog/mixed signal IC
company focusing on next-generation voice and data networks, and also
serves on the board of directors of IceFyre, a leading provider of
5 GHz wireless LAN products.
-- Was added to the Russell 2000(R) index and was selected as a member of
the Red Herring 100, which recognizes the top 50 public and the top 50
private companies whose services, business models, products and
quality of management define business innovation.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software application. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, competitive position and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` products (b) market demand for OEM`s products using Synaptics products, and (c) the failure of Synaptics` products and OEM`s products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s Registration Statement on Form S-1. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Russ Knittel of Synaptics Incorporated, 408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, 415-217-7722, or jennifer@blueshirtgroup.com, for Synaptics Incorporated.
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)
Three Months Ended Twelve Months Ended
June 30, June 30,
2002 2001 2002 2001 (A)
Net revenue $25,809 $21,631 $100,201 $73,698
Cost of revenue 14,836 14,752 59,016 50,811
Gross margin 10,973 6,879 41,185 22,887
Operating expenses
Research and
development 4,714 3,285 16,594 11,590
Selling, general,
and administrative 2,422 2,535 9,873 9,106
Amortization of
goodwill and
other acquired
intangible assets 30 204 134 784
Amortization of
deferred stock
compensation 90 119 453 597
Total operating
expenses 7,256 6,143 27,054 22,077
Operating income 3,717 736 14,131 810
Interest income 290 54 522 363
Interest expense (41) (46) (197) (183)
Income before
income taxes 3,966 744 14,456 990
Provision for
income taxes 1,393 144 5,056 180
Net income $2,573 $600 $9,400 $810
Net income per
share:
Basic $0.11 $0.09 $0.70 $0.13
Diluted $0.10 $0.03 $0.42 $0.04
Shares used in
computing net
income per share:
Basic 23,179,283 6,491,717 13,523,443 6,133,866
Diluted 25,957,125 19,963,567 22,544,461 19,879,491
Pro forma results
(unaudited)
Reported net
income $2,573 $600 $9,400 $810
Pro forma
adjustments:
Amortization
of goodwill
and other
acquired
intangible
assets 30 204 134 784
Amortization
of deferred
stock compensation 90 119 453 597
Pro forma net
income $2,693 $923 $9,987 $2,191
Pro forma
earnings per
share
Basic $0.12 $0.14 $0.74 $0.36
Diluted $0.10 $0.05 $0.44 $0.11
(A)"Derived from the Company`s audited financial statements as of
June 30, 2001, included in the Company`s registration statement on
Form S-1 filed with the Securities and Exchange Commission."
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share
amounts)
(unaudited)
June 30, June 30,
2002 2001 (A)
Assets
Current assets:
Cash and cash equivalents $45,491 $3,766
Short term investments 19,689 --
Accounts receivable, net of
allowances of $ 200 and $125
at June 30,2002 and June 30,
2001, respectively 13,242 12,245
Inventories 5,867 7,290
Prepaid expenses and other
current assets 2,964 651
Total current assets 87,253 23,952
Property and equipment, net 2,043 1,795
Goodwill 765 765
Other acquired intangible assets,
net 40 174
Other assets 280 471
Total assets $90,381 $27,157
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $5,867 $7,289
Accrued compensation 2,161 1,563
Accrued warranty 1,002 509
Income taxes payable 2,646 522
Other accrued liabilities 1,814 549
Capital leases and equipment
financing obligations 445 546
Total current liabilities 13,935 10,978
Capital leases and equipment
financing obligations, net of
current portion 259 329
Note payable to a related party 1,500 1,500
Other liabilities 684 596
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000
shares authorized; 8,170,207
issued and outstanding June
30, 2001 and no shares
issued and outstanding at
June 30, 2002 -- 18,650
Common stock;
$.001 par value; 60,000,000
shares authorized; 23,182,758
and 6,601,849 shares issued
and outstanding,
respectively 23 6,194
Additional paid in capital 75,013 --
Deferred stock compensation (1,085) (1,649)
Notes receivable from
stockholders (876) (906)
Retained earnings/(accumulated
deficit) 865 (8,535)
Accumulated other comprehensive
income 63 --
Total stockholders` equity 74,003 13,754
Total liabilities and stockholders`
equity $90,381 $27,157
(A)"Derived from the Company`s audited financial statements as of
June 30, 2001, included in the in the Company`s registration statement
on Form S-1 filed with the Securities and Exchange Commission."
SOURCE: Synaptics Incorporated
Reuters Company News
Synaptics adopts stockholders` rights plan
SAN JOSE, Calif., Aug 15 (Reuters) - Synaptics Inc. (NasdaqNM:SYNA - News), a maker of touch-sensitive computer screens and other products, on Thursday said it adopted a stockholders` rights plan with a 15 percent trigger, but said the plans was not in response to any specific takeover threat.
Synaptics said it will issue a dividend of one preferred share purchase Right for each share of common stock of the company held by stockholders of record as of the close of business on Aug. 19.
Each right will entitle stockholders to buy one one-thousandth of a share of newly created series A junior participating preferred stock of the company at an exercise price of $60.
In general, the stock purchase rights become exercisable when a person or group acquires 15 percent or more of the company`s common stock, Synaptics said.
Synaptics adopts stockholders` rights plan
SAN JOSE, Calif., Aug 15 (Reuters) - Synaptics Inc. (NasdaqNM:SYNA - News), a maker of touch-sensitive computer screens and other products, on Thursday said it adopted a stockholders` rights plan with a 15 percent trigger, but said the plans was not in response to any specific takeover threat.
Synaptics said it will issue a dividend of one preferred share purchase Right for each share of common stock of the company held by stockholders of record as of the close of business on Aug. 19.
Each right will entitle stockholders to buy one one-thousandth of a share of newly created series A junior participating preferred stock of the company at an exercise price of $60.
In general, the stock purchase rights become exercisable when a person or group acquires 15 percent or more of the company`s common stock, Synaptics said.
Synaptics Reports First Quarter Financial Results
Thursday October 24, 4:15 pm ET
SAN JOSE, Calif., Oct. 24 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the first quarter ended September 30, 2002.
Net revenue for the first quarter of fiscal 2003 was $22.2 million, compared to $23.6 million for the first quarter of the prior fiscal year. Pro forma net income for the first quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $1.3 million, or $0.06 per basic share and $0.05 per diluted share. This compares to pro forma net income of $1.7 million, or $0.26 per basic share and $0.08 per diluted share, for the first quarter of the prior fiscal year.
Actual (GAAP) net income for the first quarter of fiscal 2003 was $1.2 million, or $0.05 per basic and diluted share. This compares with actual net income of $1.6 million, or $0.24 per basic share and $0.08 per diluted share, for the first quarter of fiscal 2002.
"We are pleased with our first quarter performance amidst the current economic environment and backdrop of uncertainty within the PC industry," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Visibility in the PC market remains limited due to continued softness in consumer and corporate spending, but we are encouraged by the number of new design wins in the notebook segment coupled with healthy design activity in adjacent markets. We expect a moderate sequential increase in revenue of up to 6% during the December quarter in what is expected to be a weaker than usual holiday season, and another sequential revenue increase in the traditionally slower March quarter as several of our earlier design wins move into production."
Recent Highlights
Synaptics recently:
-- Secured two additional design wins for its integrated Fingerprint
TouchPad module for notebook computers, as it continues to demonstrate
its ability to bring additional value-added features and functionality
to its customers. Synaptics expects these design wins will begin
generating revenue within the next six months.
-- Achieved 3 design wins for its capacitive TouchStyk, which it expects
will result in revenue within the next 9 months.
-- Shipped a TouchPad product with its proprietary QuickStroke Chinese
character recognition software to its partner, CityOne, for integration
into a PC peripheral product for screen navigation and character input.
-- Continued to make inroads in the Japanese market with a design win for
Sharp`s recently announced Muramasa notebook, the world`s thinnest
notebook computer, which utilizes Synaptics` HyperThin TouchPad,
another example of Synaptics` ability to add value through its custom
engineering capabilities.
-- Opened a new office in Tokyo, Japan to provide local support for its
customers in the region.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications, and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software application. More information about Synaptics can be found on the World Wide Web at www.synaptics.com
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, competitive position and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` products (b) market demand for OEM`s products using Synaptics` products, and (c) the failure of Synaptics` products and OEM`s products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s 10-K for the fiscal year ended June 30, 2002. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
(Tables to Follow)
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Three Months Ended
September 30, September 30,
2002 2001
Net revenue $22,177 $23,569
Cost of revenue 12,443 14,607
Gross margin 9,734 8,962
Operating expenses
Research and development 5,323 3,691
Selling, general, and administrative 2,604 2,674
Amortization of acquired intangible
assets 30 13
Amortization of deferred stock
compensation 110 121
Total operating expenses 8,067 6,499
Operating income 1,667 2,463
Interest income 277 33
Interest expense (39) (64)
Income before income taxes 1,905 2,432
Provision for income taxes 705 845
Net income $1,200 $1,587
Net income per share:
Basic $0.05 $0.24
Diluted $0.05 $0.08
Shares used in computing net income per share:
Basic 23,260,200 6,623,353
Diluted 24,839,868 20,362,095
Pro forma results (unaudited)
Reported net income $1,200 $1,587
Pro forma adjustments:
Amortization of acquired
intangible assets 30 13
Amortization of deferred stock
compensation 110 121
Pro forma net income $1,340 $1,721
Pro forma earnings per share
Basic $0.06 $0.26
Diluted $0.05 $0.08
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
September 30, June 30,
2002 2002
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $35,163 $45,491
Short term investments 29,197 19,689
Accounts receivable, net of allowances of
$210 and $200 at September 30, 2002 and
June 30, 2002, respectively 15,610 13,242
Inventories 6,398 5,867
Prepaid expenses and other current assets 3,495 2,964
Total current assets 89,863 87,253
Property and equipment, net 2,005 2,043
Goodwill 765 765
Other acquired intangible assets, net 10 40
Other assets 300 280
Total assets $92,943 $90,381
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $6,096 $5,867
Accrued compensation 2,232 2,161
Accrued warranty 1,002 1,002
Income taxes payable 2,700 2,646
Other accrued liabilities 2,129 1,814
Capital leases and equipment financing obligations 351 445
Total current liabilities 14,510 13,935
Capital leases and equipment financing obligations,
net of current portion 164 259
Note payable to a related party 1,500 1,500
Other liabilities 702 684
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares authorized;
no shares issued and outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares authorized;
23,337,656 and 23,182,757 shares issued and
outstanding, respectively 23 23
Additional paid in capital 75,657 75,013
Deferred stock compensation (975) (1,085)
Notes receivable from stockholders (768) (876)
Retained earnings 2,065 865
Accumulated other comprehensive income 65 63
Total stockholders` equity 76,067 74,003
Total liabilities and stockholders` equity $92,943 $90,381
CONTACT: Russ Knittel of Synaptics, +1-408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, +1-415-217-7722 or jennifer@blueshirtgroup.com, for Synaptics
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Source: Synaptics
Thursday October 24, 4:15 pm ET
SAN JOSE, Calif., Oct. 24 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the first quarter ended September 30, 2002.
Net revenue for the first quarter of fiscal 2003 was $22.2 million, compared to $23.6 million for the first quarter of the prior fiscal year. Pro forma net income for the first quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $1.3 million, or $0.06 per basic share and $0.05 per diluted share. This compares to pro forma net income of $1.7 million, or $0.26 per basic share and $0.08 per diluted share, for the first quarter of the prior fiscal year.
Actual (GAAP) net income for the first quarter of fiscal 2003 was $1.2 million, or $0.05 per basic and diluted share. This compares with actual net income of $1.6 million, or $0.24 per basic share and $0.08 per diluted share, for the first quarter of fiscal 2002.
"We are pleased with our first quarter performance amidst the current economic environment and backdrop of uncertainty within the PC industry," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Visibility in the PC market remains limited due to continued softness in consumer and corporate spending, but we are encouraged by the number of new design wins in the notebook segment coupled with healthy design activity in adjacent markets. We expect a moderate sequential increase in revenue of up to 6% during the December quarter in what is expected to be a weaker than usual holiday season, and another sequential revenue increase in the traditionally slower March quarter as several of our earlier design wins move into production."
Recent Highlights
Synaptics recently:
-- Secured two additional design wins for its integrated Fingerprint
TouchPad module for notebook computers, as it continues to demonstrate
its ability to bring additional value-added features and functionality
to its customers. Synaptics expects these design wins will begin
generating revenue within the next six months.
-- Achieved 3 design wins for its capacitive TouchStyk, which it expects
will result in revenue within the next 9 months.
-- Shipped a TouchPad product with its proprietary QuickStroke Chinese
character recognition software to its partner, CityOne, for integration
into a PC peripheral product for screen navigation and character input.
-- Continued to make inroads in the Japanese market with a design win for
Sharp`s recently announced Muramasa notebook, the world`s thinnest
notebook computer, which utilizes Synaptics` HyperThin TouchPad,
another example of Synaptics` ability to add value through its custom
engineering capabilities.
-- Opened a new office in Tokyo, Japan to provide local support for its
customers in the region.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications, and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software application. More information about Synaptics can be found on the World Wide Web at www.synaptics.com
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, competitive position and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` products (b) market demand for OEM`s products using Synaptics` products, and (c) the failure of Synaptics` products and OEM`s products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s 10-K for the fiscal year ended June 30, 2002. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
(Tables to Follow)
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Three Months Ended
September 30, September 30,
2002 2001
Net revenue $22,177 $23,569
Cost of revenue 12,443 14,607
Gross margin 9,734 8,962
Operating expenses
Research and development 5,323 3,691
Selling, general, and administrative 2,604 2,674
Amortization of acquired intangible
assets 30 13
Amortization of deferred stock
compensation 110 121
Total operating expenses 8,067 6,499
Operating income 1,667 2,463
Interest income 277 33
Interest expense (39) (64)
Income before income taxes 1,905 2,432
Provision for income taxes 705 845
Net income $1,200 $1,587
Net income per share:
Basic $0.05 $0.24
Diluted $0.05 $0.08
Shares used in computing net income per share:
Basic 23,260,200 6,623,353
Diluted 24,839,868 20,362,095
Pro forma results (unaudited)
Reported net income $1,200 $1,587
Pro forma adjustments:
Amortization of acquired
intangible assets 30 13
Amortization of deferred stock
compensation 110 121
Pro forma net income $1,340 $1,721
Pro forma earnings per share
Basic $0.06 $0.26
Diluted $0.05 $0.08
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
September 30, June 30,
2002 2002
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $35,163 $45,491
Short term investments 29,197 19,689
Accounts receivable, net of allowances of
$210 and $200 at September 30, 2002 and
June 30, 2002, respectively 15,610 13,242
Inventories 6,398 5,867
Prepaid expenses and other current assets 3,495 2,964
Total current assets 89,863 87,253
Property and equipment, net 2,005 2,043
Goodwill 765 765
Other acquired intangible assets, net 10 40
Other assets 300 280
Total assets $92,943 $90,381
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $6,096 $5,867
Accrued compensation 2,232 2,161
Accrued warranty 1,002 1,002
Income taxes payable 2,700 2,646
Other accrued liabilities 2,129 1,814
Capital leases and equipment financing obligations 351 445
Total current liabilities 14,510 13,935
Capital leases and equipment financing obligations,
net of current portion 164 259
Note payable to a related party 1,500 1,500
Other liabilities 702 684
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares authorized;
no shares issued and outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares authorized;
23,337,656 and 23,182,757 shares issued and
outstanding, respectively 23 23
Additional paid in capital 75,657 75,013
Deferred stock compensation (975) (1,085)
Notes receivable from stockholders (768) (876)
Retained earnings 2,065 865
Accumulated other comprehensive income 65 63
Total stockholders` equity 76,067 74,003
Total liabilities and stockholders` equity $92,943 $90,381
CONTACT: Russ Knittel of Synaptics, +1-408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, +1-415-217-7722 or jennifer@blueshirtgroup.com, for Synaptics
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Source: Synaptics
http://www.wrhambrecht.com/ind/research/semi/syna.html
Synaptics Inc. (syna)
Profile
SEC Filings
News
Rating Target
Price Current
Price Market
Cap.
BUY $7.50 $4.50 $104.99MM
--------------------------------------------------------------------------------
WRH+Co Next Qtr. Est. Revenue EPS
DEC $23.4MM $0.06
Important disclosures, including a list of companies mentioned in which WR Hambrecht + Co maintains a market, has been a managing or comanaging underwriter for, and/or has privately placed securities within the past three years.
For a chart comparing stock performance with our analyst’s ratings and target prices, click here.
10.25.02
syna: Reported FQ1:03 Results; 6% Growth In A Tough Environment; Upgrading To Buy Rating Based On Valuation
On Oct. 24, Synaptics posted FQ1:03 results exceeding our estimates. Revenue of $22.2 million was ahead of our estimate of $21.9 million vs. street estimate of $22.2 million. EPS of $0.05 was above our estimate and street estimate of $0.03. Gross margins came in at 43.9%, which was higher than our estimate of 40%. We are increasing our estimates for F2003 and F2004. We are increasing our top line estimate to $94.7 million from $92.8 million, with our EPS estimate increasing to $0.25 from $0.20. With regards to F2004 estimates, we increased our top line estimate to $112.8 million from $106.8 million, with our EPS estimate increasing to $0.36 from $0.30. Even though we are in a period of reduced corporate as well consumer spending, particularly in the PC sector, notebooks are growing better than desktop PCs. Also, the 6.6 million shares that were released (after 6-month lock-up ended on July 28th) have driven the share price down to a 52 week low of $3.13. We think at this point, the stock is at a level that should be appealing to value investors. We are upgrading the stock to a Buy rating with a $7.50 price target. Full Report - PDF
Synaptics Inc. (syna)
Profile
SEC Filings
News
Rating Target
Price Current
Price Market
Cap.
BUY $7.50 $4.50 $104.99MM
--------------------------------------------------------------------------------
WRH+Co Next Qtr. Est. Revenue EPS
DEC $23.4MM $0.06
Important disclosures, including a list of companies mentioned in which WR Hambrecht + Co maintains a market, has been a managing or comanaging underwriter for, and/or has privately placed securities within the past three years.
For a chart comparing stock performance with our analyst’s ratings and target prices, click here.
10.25.02
syna: Reported FQ1:03 Results; 6% Growth In A Tough Environment; Upgrading To Buy Rating Based On Valuation
On Oct. 24, Synaptics posted FQ1:03 results exceeding our estimates. Revenue of $22.2 million was ahead of our estimate of $21.9 million vs. street estimate of $22.2 million. EPS of $0.05 was above our estimate and street estimate of $0.03. Gross margins came in at 43.9%, which was higher than our estimate of 40%. We are increasing our estimates for F2003 and F2004. We are increasing our top line estimate to $94.7 million from $92.8 million, with our EPS estimate increasing to $0.25 from $0.20. With regards to F2004 estimates, we increased our top line estimate to $112.8 million from $106.8 million, with our EPS estimate increasing to $0.36 from $0.30. Even though we are in a period of reduced corporate as well consumer spending, particularly in the PC sector, notebooks are growing better than desktop PCs. Also, the 6.6 million shares that were released (after 6-month lock-up ended on July 28th) have driven the share price down to a 52 week low of $3.13. We think at this point, the stock is at a level that should be appealing to value investors. We are upgrading the stock to a Buy rating with a $7.50 price target. Full Report - PDF
Synaptics Announces OmniPass Identity Management Software for Fingerprint TouchPad Solution
Monday November 18, 11:00 am ET
Synaptics` Fingerprint TouchPad Offers the First Practical Biometric Solution For Secure System Access and Password Replacement
LAS VEGAS, Nov. 18 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced the introduction of OmniPass application software and OmniROM Preboot Authorization for its Fingerprint TouchPad, co-developed with Softex Incorporated. This identity management software allows end users to replace keyed passwords with fingerprint authentication, and can be used to access the system at start up, log on to the Windows operating system, network, and email, enter Web sites, unlock a screen saver or access any type of secure application. The software is bundled with Synaptics` Fingerprint TouchPad module, which combines Synaptics` leading TouchPad interface device with the AuthenTec EntrePad(TM) AES3500 fingerprint sensor, allowing Synaptics to offer notebook OEMs a complete integrated biometric security solution.
"OmniPass allows even novice computer users the convenience and security of biometric authentication without having to learn complicated software," said Francis Lee, President and Chief Executive Officer of Synaptics. "With OmniPass, Synaptics` integrated Fingerprint TouchPad module offers the first practical biometric solution for secure system access and password replacement."
OmniPass boasts convenient features:
Enrollment Wizard guides the user through the easy, four-step enrollment process.
Password Vault allows a user to replace numerous logons and passwords with a single fingerprint scan.
Single Touch Log On allows the user to securely perform pre-boot and Windows authentication with a single touch of the finger. For added security, the file encryption feature enables users to selectively encrypt and decrypt files.
Screen Saver Locking feature automatically locks the system after a user-specified period of system inactivity.
OmniPass Control Center supplies tools that allow multiple users and user profiles and manages startup authorization options and security levels.
"Biometric devices offer consumers a convenient and robust method to authenticate themselves to their machines and the network," said Roger Kay, director of client computing at IDC. "You always carry your finger around with you and never lose it, and no one else can spoof that they`re you."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Softex Incorporated
Founded in 1992, Softex Incorporated is a leading supplier of system level software for personal computers and workstations. Softex has been named as one of the fastest growing privately held companies in the United States by Inc. Magazine. Softex system software products have shipped on millions of personal computers from most of the top-tier OEM manufacturers. Headquartered in Austin, TX, Softex also provides custom system software development services to the computer industry.
For more information on products and services, contact: Softex, Inc. at: 9300 Jollyville Road, Austin, TX 78759. Phone: 512-452-8836 FAX: 512-795-8702 or visit the company`s website at: www.softexinc.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics success in the PC market with the Fingerprint TouchPad product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
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--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Monday November 18, 11:00 am ET
Synaptics` Fingerprint TouchPad Offers the First Practical Biometric Solution For Secure System Access and Password Replacement
LAS VEGAS, Nov. 18 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced the introduction of OmniPass application software and OmniROM Preboot Authorization for its Fingerprint TouchPad, co-developed with Softex Incorporated. This identity management software allows end users to replace keyed passwords with fingerprint authentication, and can be used to access the system at start up, log on to the Windows operating system, network, and email, enter Web sites, unlock a screen saver or access any type of secure application. The software is bundled with Synaptics` Fingerprint TouchPad module, which combines Synaptics` leading TouchPad interface device with the AuthenTec EntrePad(TM) AES3500 fingerprint sensor, allowing Synaptics to offer notebook OEMs a complete integrated biometric security solution.
"OmniPass allows even novice computer users the convenience and security of biometric authentication without having to learn complicated software," said Francis Lee, President and Chief Executive Officer of Synaptics. "With OmniPass, Synaptics` integrated Fingerprint TouchPad module offers the first practical biometric solution for secure system access and password replacement."
OmniPass boasts convenient features:
Enrollment Wizard guides the user through the easy, four-step enrollment process.
Password Vault allows a user to replace numerous logons and passwords with a single fingerprint scan.
Single Touch Log On allows the user to securely perform pre-boot and Windows authentication with a single touch of the finger. For added security, the file encryption feature enables users to selectively encrypt and decrypt files.
Screen Saver Locking feature automatically locks the system after a user-specified period of system inactivity.
OmniPass Control Center supplies tools that allow multiple users and user profiles and manages startup authorization options and security levels.
"Biometric devices offer consumers a convenient and robust method to authenticate themselves to their machines and the network," said Roger Kay, director of client computing at IDC. "You always carry your finger around with you and never lose it, and no one else can spoof that they`re you."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Softex Incorporated
Founded in 1992, Softex Incorporated is a leading supplier of system level software for personal computers and workstations. Softex has been named as one of the fastest growing privately held companies in the United States by Inc. Magazine. Softex system software products have shipped on millions of personal computers from most of the top-tier OEM manufacturers. Headquartered in Austin, TX, Softex also provides custom system software development services to the computer industry.
For more information on products and services, contact: Softex, Inc. at: 9300 Jollyville Road, Austin, TX 78759. Phone: 512-452-8836 FAX: 512-795-8702 or visit the company`s website at: www.softexinc.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics success in the PC market with the Fingerprint TouchPad product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
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Source: Synaptics Incorporated
Synaptics Introduces Integrated Dual Pointing Module for Notebook Computers
Monday November 18, 11:00 am ET
LAS VEGAS, Nov. 18 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced the availability of an integrated dual pointing module -- combining both a TouchStyk and TouchPad into a single interface solution for notebook computers. This new integrated solution differs from traditional dual pointing devices in that it joins both pointing devices into a single module, creating a more cost effective and easier to integrate solution.
ADVERTISEMENT
"By simplifying the design process for our OEM customers and making our solution more cost effective, we have made dual pointing a viable solution for OEMs to offer in their consumer notebooks," said Don Kirby, General Manager of the PC Group at Synaptics. "Our research has indicated that younger and first-time notebook users appreciate having the option to use two interface devices, and even prefer the unique orientation of the integrated dual pointing solution in the notebook."
The dual pointing system also allows OEMs who are looking to provide consumers with added value the ability to differentiate their consumer- oriented notebooks by offering an economical dual interface option.
"The adoption of dual pointing solutions for notebooks in the enterprise market over the past few years demonstrates the value of dual pointing solutions," says Alan Promisel, research analyst at IDC`s Mobile Computing group. "Synaptics` new integrated solution makes it possible for OEMs to offer the same benefits to the consumer market -- a completely new alternative for consumer end users."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular and capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the integrated dual pointing product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the integrated dual pointing product (b) market demand for OEM products using Synaptics` integrated dual pointing solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
NOTE: Synaptics, the Synaptics logo, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
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Source: Synaptics Incorporated
Monday November 18, 11:00 am ET
LAS VEGAS, Nov. 18 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today announced the availability of an integrated dual pointing module -- combining both a TouchStyk and TouchPad into a single interface solution for notebook computers. This new integrated solution differs from traditional dual pointing devices in that it joins both pointing devices into a single module, creating a more cost effective and easier to integrate solution.
ADVERTISEMENT
"By simplifying the design process for our OEM customers and making our solution more cost effective, we have made dual pointing a viable solution for OEMs to offer in their consumer notebooks," said Don Kirby, General Manager of the PC Group at Synaptics. "Our research has indicated that younger and first-time notebook users appreciate having the option to use two interface devices, and even prefer the unique orientation of the integrated dual pointing solution in the notebook."
The dual pointing system also allows OEMs who are looking to provide consumers with added value the ability to differentiate their consumer- oriented notebooks by offering an economical dual interface option.
"The adoption of dual pointing solutions for notebooks in the enterprise market over the past few years demonstrates the value of dual pointing solutions," says Alan Promisel, research analyst at IDC`s Mobile Computing group. "Synaptics` new integrated solution makes it possible for OEMs to offer the same benefits to the consumer market -- a completely new alternative for consumer end users."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular and capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the integrated dual pointing product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the integrated dual pointing product (b) market demand for OEM products using Synaptics` integrated dual pointing solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
NOTE: Synaptics, the Synaptics logo, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
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Source: Synaptics Incorporated
Synaptics Reports Second Quarter Financial Results
Thursday January 23, 4:05 pm ET
SAN JOSE, Calif., Jan. 23 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the second quarter ended December 31, 2002.
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Net revenue for the second quarter of fiscal 2003 was $24.2 million, compared to $26.4 million for the second quarter of the prior fiscal year. Actual (GAAP) net income for the second quarter of fiscal 2003 was $1.8 million, or $0.08 per basic share and $0.07 per diluted share. This compares with actual net income of $2.8 million, or $0.42 per basic share and $0.14 per diluted share, for the second quarter of fiscal 2002.
Pro forma net income for the second quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $2.0 million, or $0.08 per basic and diluted share. This compares to pro forma net income of $3.0 million, or $0.44 per basic share and $0.15 per diluted share, for the second quarter of the prior fiscal year.
"We are pleased to announce solid second quarter results," stated Francis Lee, President and Chief Executive Officer of Synaptics. "The business environment showed signs of stabilization in customer order patterns and inventory levels, and sales of notebook computers met or exceeded most industry forecasts during the holiday season. Our product milestones for the current quarter remain on track, with several of our earlier design wins in both notebooks and new markets scheduled to move into production."
Russ Knittel, Synaptics` Chief Financial Officer, added, "Although our revenue and profitability are down from the prior year period, we are pleased to report sequential growth in revenue and profits, reflecting our strong execution in a challenging business environment. Looking forward, we expect to achieve sequential revenue growth of up to four percent in the seasonally slower March quarter, as well as another consecutive revenue increase in the June quarter. We expect to continue to be profitable and cash flow positive, further strengthening our balance sheet and providing us with a solid foundation to continue to make investments in the company`s future."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics` products include TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular and capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, earnings expectations, cash flow expectations, competitive position both in notebooks and its new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` products (b) market demand for OEM`s products using Synaptics` products, and (c) the failure of Synaptics` products and OEM`s products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s 10-K for the fiscal year ended June 30, 2002. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Russ Knittel of Synaptics Incorporated, +1-408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, +1-415-217-7722, or jennifer@blueshirtgroup.com, for Synaptics Incorporated.
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Six Months Ended
December 31, December 31,
2002 2001 2002 2001
Net revenue $$24,199 $26,402 $46,376 $49,971
Cost of revenue 13,917 15,376 26,360 29,983
Gross margin 10,282 11,026 20,016 19,988
Operating expenses
Research and development 4,812 4,117 10,135 7,808
Selling, general, and
administrative 2,638 2,426 5,242 5,100
Amortization of intangible
assets 10 62 40 75
Amortization of deferred
stock compensation 116 121 226 242
Total operating expenses 7,576 6,726 15,643 13,225
Operating income 2,706 4,300 4,373 6,763
Interest income 279 48 556 81
Interest expense (47) (49) (86) (113)
Income before income taxes 2,938 4,299 4,843 6,731
Provision for income taxes 1,093 1,497 1,798 2,342
Net income $1,845 $2,802 $3,045 $4,389
Net income per share:
Basic $0.08 $0.42 $0.13 $0.66
Diluted $0.07 $0.14 $0.12 $0.22
Shares used in computing
net income per share:
Basic 23,386,723 6,709,137 23,309,271 6,666,245
Diluted 25,083,296 20,376,274 24,957,002 20,369,185
Pro forma results
(unaudited)
Reported net income $1,845 $2,802 $3,045 $4,389
Pro forma adjustments:
Amortization of
goodwill and other
acquired intangible
assets 10 62 40 75
Amortization of
deferred stock
compensation 116 121 226 242
Pro forma net income $1,971 $2,985 $3,311 $4,706
Pro forma earnings per
share
Basic $0.08 $0.44 $0.14 $0.71
Diluted $0.08 $0.15 $0.13 $0.23
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
December 31, June 30,
2002 2002
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $38,935 $45,491
Short term investments 30,743 19,689
Accounts receivable, net of allowances
of $ 210 and $200 at December 31, 2002
and June 30, 2002, respectively 13,452 13,242
Inventories 6,103 5,867
Prepaid expenses and other current assets 3,401 2,964
Total current assets 92,634 87,253
Property and equipment, net 1,782 2,043
Goodwill 765 765
Other acquired intangible assets, net -- 40
Other assets 236 280
Total assets $95,417 $90,381
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $6,523 $5,867
Accrued compensation 1,939 2,161
Accrued warranty 1,002 1,002
Income taxes payable 2,462 2,646
Other accrued liabilities 2,444 1,814
Capital leases and equipment financing
obligations 346 445
Total current liabilities 14,716 13,935
Capital leases and equipment financing
obligations, net of current portion 82 259
Note payable to a related party 1,500 1,500
Other liabilities 722 684
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares authorized;
no shares issued and outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares authorized;
23,435,790 and 23,182,757 shares issued and
outstanding, respectively 23 23
Additional paid in capital 76,666 75,013
Deferred stock compensation (1,594) (1,085)
Notes receivable from stockholders (755) (876)
Retained earnings 3,910 865
Accumulated other comprehensive income 147 63
Total stockholders` equity 78,397 74,003
Total liabilities and stockholders` equity $95,417 $90,381
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Thursday January 23, 4:05 pm ET
SAN JOSE, Calif., Jan. 23 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the second quarter ended December 31, 2002.
ADVERTISEMENT
Net revenue for the second quarter of fiscal 2003 was $24.2 million, compared to $26.4 million for the second quarter of the prior fiscal year. Actual (GAAP) net income for the second quarter of fiscal 2003 was $1.8 million, or $0.08 per basic share and $0.07 per diluted share. This compares with actual net income of $2.8 million, or $0.42 per basic share and $0.14 per diluted share, for the second quarter of fiscal 2002.
Pro forma net income for the second quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $2.0 million, or $0.08 per basic and diluted share. This compares to pro forma net income of $3.0 million, or $0.44 per basic share and $0.15 per diluted share, for the second quarter of the prior fiscal year.
"We are pleased to announce solid second quarter results," stated Francis Lee, President and Chief Executive Officer of Synaptics. "The business environment showed signs of stabilization in customer order patterns and inventory levels, and sales of notebook computers met or exceeded most industry forecasts during the holiday season. Our product milestones for the current quarter remain on track, with several of our earlier design wins in both notebooks and new markets scheduled to move into production."
Russ Knittel, Synaptics` Chief Financial Officer, added, "Although our revenue and profitability are down from the prior year period, we are pleased to report sequential growth in revenue and profits, reflecting our strong execution in a challenging business environment. Looking forward, we expect to achieve sequential revenue growth of up to four percent in the seasonally slower March quarter, as well as another consecutive revenue increase in the June quarter. We expect to continue to be profitable and cash flow positive, further strengthening our balance sheet and providing us with a solid foundation to continue to make investments in the company`s future."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics` products include TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular and capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, earnings expectations, cash flow expectations, competitive position both in notebooks and its new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` products (b) market demand for OEM`s products using Synaptics` products, and (c) the failure of Synaptics` products and OEM`s products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s 10-K for the fiscal year ended June 30, 2002. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Russ Knittel of Synaptics Incorporated, +1-408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, +1-415-217-7722, or jennifer@blueshirtgroup.com, for Synaptics Incorporated.
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Six Months Ended
December 31, December 31,
2002 2001 2002 2001
Net revenue $$24,199 $26,402 $46,376 $49,971
Cost of revenue 13,917 15,376 26,360 29,983
Gross margin 10,282 11,026 20,016 19,988
Operating expenses
Research and development 4,812 4,117 10,135 7,808
Selling, general, and
administrative 2,638 2,426 5,242 5,100
Amortization of intangible
assets 10 62 40 75
Amortization of deferred
stock compensation 116 121 226 242
Total operating expenses 7,576 6,726 15,643 13,225
Operating income 2,706 4,300 4,373 6,763
Interest income 279 48 556 81
Interest expense (47) (49) (86) (113)
Income before income taxes 2,938 4,299 4,843 6,731
Provision for income taxes 1,093 1,497 1,798 2,342
Net income $1,845 $2,802 $3,045 $4,389
Net income per share:
Basic $0.08 $0.42 $0.13 $0.66
Diluted $0.07 $0.14 $0.12 $0.22
Shares used in computing
net income per share:
Basic 23,386,723 6,709,137 23,309,271 6,666,245
Diluted 25,083,296 20,376,274 24,957,002 20,369,185
Pro forma results
(unaudited)
Reported net income $1,845 $2,802 $3,045 $4,389
Pro forma adjustments:
Amortization of
goodwill and other
acquired intangible
assets 10 62 40 75
Amortization of
deferred stock
compensation 116 121 226 242
Pro forma net income $1,971 $2,985 $3,311 $4,706
Pro forma earnings per
share
Basic $0.08 $0.44 $0.14 $0.71
Diluted $0.08 $0.15 $0.13 $0.23
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
December 31, June 30,
2002 2002
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $38,935 $45,491
Short term investments 30,743 19,689
Accounts receivable, net of allowances
of $ 210 and $200 at December 31, 2002
and June 30, 2002, respectively 13,452 13,242
Inventories 6,103 5,867
Prepaid expenses and other current assets 3,401 2,964
Total current assets 92,634 87,253
Property and equipment, net 1,782 2,043
Goodwill 765 765
Other acquired intangible assets, net -- 40
Other assets 236 280
Total assets $95,417 $90,381
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $6,523 $5,867
Accrued compensation 1,939 2,161
Accrued warranty 1,002 1,002
Income taxes payable 2,462 2,646
Other accrued liabilities 2,444 1,814
Capital leases and equipment financing
obligations 346 445
Total current liabilities 14,716 13,935
Capital leases and equipment financing
obligations, net of current portion 82 259
Note payable to a related party 1,500 1,500
Other liabilities 722 684
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares authorized;
no shares issued and outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares authorized;
23,435,790 and 23,182,757 shares issued and
outstanding, respectively 23 23
Additional paid in capital 76,666 75,013
Deferred stock compensation (1,594) (1,085)
Notes receivable from stockholders (755) (876)
Retained earnings 3,910 865
Accumulated other comprehensive income 147 63
Total stockholders` equity 78,397 74,003
Total liabilities and stockholders` equity $95,417 $90,381
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics to Enhance Pen Input Navigation for Symbian OS Smartphones
Monday February 24, 11:00 am ET
Synaptics Joins Symbian Platinum Partner Program
SAN JOSE, Calif., Feb. 24 /PRNewswire-FirstCall/ --
Synaptics Incorporated (Nasdaq: SYNA - News), a leading developer of human interface
solutions for mobile computing and communications devices, today announced its
membership in Symbian`s Platinum Partner Program to support the emerging
market for Symbian OS advanced mobile phones. As a member of Symbian`s
Platinum Partner Program, Synaptics will develop a version of its Spiral(R)
inductive pen input solution to run on Symbian OS. Symbian OS is the open
global standard operating system for advanced mobile phones and is licensed by
the world`s leading handset manufacturers, accounting for more than 80 percent
of worldwide mobile phone sales.
ADVERTISEMENT
"This partnership reflects our commitment to improving the user interface for accessing, navigating, and managing content rich information delivered to Symbian OS mobile phones," said Francis Lee, Synaptics President & CEO. "By becoming a Symbian Platinum Partner, we can leverage our experience in the mobile computing market to offer wireless users, application developers, handset manufacturers and carriers an interface solution that combines advanced functionality with ease of use."
"We are pleased to have a leading provider of interface technologies join Symbian`s Platinum Partner Program," said Gilles Allain, Symbian`s Vice President of Partnerships and Alliances. "Synaptics has developed Spiral, a non-contact pen input navigation system, that provides enhanced user interface experiences in location based services, gaming and MMS applications. We welcome the opportunity for Symbian OS advanced mobile phones to take advantage of this exciting technology."
The Symbian Platinum Program includes companies that have a technology or strategic position that is key to the success of mobile computing technology surrounding Symbian OS. As part of the program, Platinum Partners benefit from a range of commercial services, as well as privileged access to Symbian OS source code and a dedicated Partner Support team.
About Spiral
Synaptics` patented Spiral pen-sensing system is designed specifically to provide intuitive interface solutions for the next-generation mobile devices. Spiral offers OEMs a robust, solid-state solution that enhances LCD clarity, and with its unique proximity-sensing capability, enables the management of complex content, and accelerates text input and device navigation.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics` products include TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Symbian
Symbian develops and licenses the global industry standard operating system for advanced mobile phones. The world`s leading handset manufacturers license Symbian OS, including Motorola, Nokia, Samsung, Siemens and Sony Ericsson. In total, Symbian OS licensees represent over 80% of worldwide mobile phone sales.
Symbian`s mission is to create a global mass market for Symbian OS mobile phones by enabling its licensees to build winning products. Publicly announced Symbian OS phones include the FOMA F2051, Sony Ericsson P800 Smartphone, Nokia 9210 series, 7650, 3650 and N-Gage. As at January 2003, 9 Symbian licensees had 20 Symbian OS phones in development. For further information about Symbian, please see www.symbian.com
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics` success and market acceptance of its Spiral product and the success of mobile devices using the Symbian platform. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward- looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Jennifer Ackman of Edelman, +1-650-968-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated; or Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Monday February 24, 11:00 am ET
Synaptics Joins Symbian Platinum Partner Program
SAN JOSE, Calif., Feb. 24 /PRNewswire-FirstCall/ --
Synaptics Incorporated (Nasdaq: SYNA - News), a leading developer of human interface
solutions for mobile computing and communications devices, today announced its
membership in Symbian`s Platinum Partner Program to support the emerging
market for Symbian OS advanced mobile phones. As a member of Symbian`s
Platinum Partner Program, Synaptics will develop a version of its Spiral(R)
inductive pen input solution to run on Symbian OS. Symbian OS is the open
global standard operating system for advanced mobile phones and is licensed by
the world`s leading handset manufacturers, accounting for more than 80 percent
of worldwide mobile phone sales.
ADVERTISEMENT
"This partnership reflects our commitment to improving the user interface for accessing, navigating, and managing content rich information delivered to Symbian OS mobile phones," said Francis Lee, Synaptics President & CEO. "By becoming a Symbian Platinum Partner, we can leverage our experience in the mobile computing market to offer wireless users, application developers, handset manufacturers and carriers an interface solution that combines advanced functionality with ease of use."
"We are pleased to have a leading provider of interface technologies join Symbian`s Platinum Partner Program," said Gilles Allain, Symbian`s Vice President of Partnerships and Alliances. "Synaptics has developed Spiral, a non-contact pen input navigation system, that provides enhanced user interface experiences in location based services, gaming and MMS applications. We welcome the opportunity for Symbian OS advanced mobile phones to take advantage of this exciting technology."
The Symbian Platinum Program includes companies that have a technology or strategic position that is key to the success of mobile computing technology surrounding Symbian OS. As part of the program, Platinum Partners benefit from a range of commercial services, as well as privileged access to Symbian OS source code and a dedicated Partner Support team.
About Spiral
Synaptics` patented Spiral pen-sensing system is designed specifically to provide intuitive interface solutions for the next-generation mobile devices. Spiral offers OEMs a robust, solid-state solution that enhances LCD clarity, and with its unique proximity-sensing capability, enables the management of complex content, and accelerates text input and device navigation.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics` products include TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Symbian
Symbian develops and licenses the global industry standard operating system for advanced mobile phones. The world`s leading handset manufacturers license Symbian OS, including Motorola, Nokia, Samsung, Siemens and Sony Ericsson. In total, Symbian OS licensees represent over 80% of worldwide mobile phone sales.
Symbian`s mission is to create a global mass market for Symbian OS mobile phones by enabling its licensees to build winning products. Publicly announced Symbian OS phones include the FOMA F2051, Sony Ericsson P800 Smartphone, Nokia 9210 series, 7650, 3650 and N-Gage. As at January 2003, 9 Symbian licensees had 20 Symbian OS phones in development. For further information about Symbian, please see www.symbian.com
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics` success and market acceptance of its Spiral product and the success of mobile devices using the Symbian platform. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward- looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Jennifer Ackman of Edelman, +1-650-968-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated; or Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Dow Jones Business News
Foveon/National Semi Pact For Digital Camera Tech
Monday March 10, 2:08 pm ET
NEW YORK (Dow Jones)--Foveon Inc. signed an agreement with National Semiconductor Corp. (NYSE:NSM - News) to license its X3 image sensor technology used in digital cameras.
ADVERTISEMENT
Financial terms weren`t provided.
In a press release Monday, Foveon said X3 is a full-color image sensor that can capture red, green and blue light in every pixel of the digital image.
Foveon, Santa Clara, Calif., develops image capture technology and products for digital cameras. National Semiconductor, also based in Santa Clara, is one of the private company`s investors. Other investors include Synaptics Inc. (NasdaqNM:SYNA - News) , New Enterprise Associates and Franklin Templeton Investments.
National Semiconductor makes semiconductor products for electronics equipment industry.
Shares of National Semiconductor recently traded at $16.60, down 72 cents, or 4.1%, on composite volume of 1.4 million shares. Average daily volume is 2.5 million shares.
Company Web site: http://www.national.com, www.foveon.com
-Jerry Abejo; Dow Jones Newswires; 201-938-5388
Foveon/National Semi Pact For Digital Camera Tech
Monday March 10, 2:08 pm ET
NEW YORK (Dow Jones)--Foveon Inc. signed an agreement with National Semiconductor Corp. (NYSE:NSM - News) to license its X3 image sensor technology used in digital cameras.
ADVERTISEMENT
Financial terms weren`t provided.
In a press release Monday, Foveon said X3 is a full-color image sensor that can capture red, green and blue light in every pixel of the digital image.
Foveon, Santa Clara, Calif., develops image capture technology and products for digital cameras. National Semiconductor, also based in Santa Clara, is one of the private company`s investors. Other investors include Synaptics Inc. (NasdaqNM:SYNA - News) , New Enterprise Associates and Franklin Templeton Investments.
National Semiconductor makes semiconductor products for electronics equipment industry.
Shares of National Semiconductor recently traded at $16.60, down 72 cents, or 4.1%, on composite volume of 1.4 million shares. Average daily volume is 2.5 million shares.
Company Web site: http://www.national.com, www.foveon.com
-Jerry Abejo; Dow Jones Newswires; 201-938-5388
Synaptics and Samsung Introduce Fingerprint TouchPad Security Solution On Samsung X10 Notebook
Wednesday March 12, 11:00 am ET
Synaptics` Fingerprint TouchPad is the First Practical Biometric Solution Offering Complete Password Replacement for Data and Asset Protection
SAN JOSE, Calif. and SEOUL, Korea, March 12 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, introduced its integrated Fingerprint TouchPad security solution for notebook computers, available in the Samsung X10 notebook series. This integrated security solution allows end users to access the system at start up, log on to the Windows® operating system, network, and email, enter Web sites, unlock a screen saver or access any type of secure application with a personal, previously-logged fingerprint.
ADVERTISEMENT
"Synaptics` Fingerprint TouchPad module is a revolutionary innovation that appeals to IT managers and end users alike," said Francis Lee, President and Chief Executive Officer of Synaptics. "The new Samsung X10 notebook now offers users the ability to secure their notebook and data with the touch of a finger."
"Samsung Electronics is pleased to be the first notebook OEM to offer what should be an industry standard -- an integrated Fingerprint TouchPad security solution that incorporates both hardware and software features," said Mr. Houn Soo Kim, Samsung`s Sr. Vice President of Sales & Marketing for Computer & Internet Systems. "Synaptics produces the only Fingerprint TouchPad on the market that addresses the comprehensive security and interface needs of the corporate user."
Synaptics` Fingerprint TouchPad module combines Synaptics` leading TouchPad interface device with the AuthenTec EntrePad(TM) AES3500 fingerprint sensor. The module is bundled with customized Softex OmniPass application software and Softex OmniROM Pre-Boot Authorization (PBA), allowing Synaptics to offer Samsung and other notebook OEMs a fully integrated biometric security and interface solution.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Samsung Electronics
Samsung Electronics Co. Ltd. is a global leader in semiconductor, telecommunication, and digital convergence technology.
Samsung Electronics employs approximately 48,000 people in 89 offices in 47 countries. The company is the world`s largest producer of memory chips, TFT-LCDs, CDMA mobile phones, monitors and VCRs. Samsung Electronics consists of four main business units: Digital Media Network, Device Solution Network, Telecommunication Network and Digital Appliance Network Businesses.
For more information, please visit http://www.samsungelectronics.com
NOTE: Synaptics and TouchPad are trademarks of Synaptics Incorporated. Samsung and Samsung X10 are trademarks of Samsung Electronics. AuthenTec and EntrePad are trademarks of AuthenTec. OmniPass, OmniROM, and Softex are the trademark of Softex Corporation. All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics success in the PC market with the Fingerprint TouchPad product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Wednesday March 12, 11:00 am ET
Synaptics` Fingerprint TouchPad is the First Practical Biometric Solution Offering Complete Password Replacement for Data and Asset Protection
SAN JOSE, Calif. and SEOUL, Korea, March 12 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, introduced its integrated Fingerprint TouchPad security solution for notebook computers, available in the Samsung X10 notebook series. This integrated security solution allows end users to access the system at start up, log on to the Windows® operating system, network, and email, enter Web sites, unlock a screen saver or access any type of secure application with a personal, previously-logged fingerprint.
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"Synaptics` Fingerprint TouchPad module is a revolutionary innovation that appeals to IT managers and end users alike," said Francis Lee, President and Chief Executive Officer of Synaptics. "The new Samsung X10 notebook now offers users the ability to secure their notebook and data with the touch of a finger."
"Samsung Electronics is pleased to be the first notebook OEM to offer what should be an industry standard -- an integrated Fingerprint TouchPad security solution that incorporates both hardware and software features," said Mr. Houn Soo Kim, Samsung`s Sr. Vice President of Sales & Marketing for Computer & Internet Systems. "Synaptics produces the only Fingerprint TouchPad on the market that addresses the comprehensive security and interface needs of the corporate user."
Synaptics` Fingerprint TouchPad module combines Synaptics` leading TouchPad interface device with the AuthenTec EntrePad(TM) AES3500 fingerprint sensor. The module is bundled with customized Softex OmniPass application software and Softex OmniROM Pre-Boot Authorization (PBA), allowing Synaptics to offer Samsung and other notebook OEMs a fully integrated biometric security and interface solution.
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Samsung Electronics
Samsung Electronics Co. Ltd. is a global leader in semiconductor, telecommunication, and digital convergence technology.
Samsung Electronics employs approximately 48,000 people in 89 offices in 47 countries. The company is the world`s largest producer of memory chips, TFT-LCDs, CDMA mobile phones, monitors and VCRs. Samsung Electronics consists of four main business units: Digital Media Network, Device Solution Network, Telecommunication Network and Digital Appliance Network Businesses.
For more information, please visit http://www.samsungelectronics.com
NOTE: Synaptics and TouchPad are trademarks of Synaptics Incorporated. Samsung and Samsung X10 are trademarks of Samsung Electronics. AuthenTec and EntrePad are trademarks of AuthenTec. OmniPass, OmniROM, and Softex are the trademark of Softex Corporation. All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of Synaptics success in the PC market with the Fingerprint TouchPad product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics products (b) market demand for OEM products using Synaptics products, and (c) the failure of Synaptics products and OEM products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics Announces Industry-First USB Dual Pointing Solution Custom Design Is Now Offered in IBM USB Desktop Keyboards
Tuesday March 18, 11:31 am ET
SAN JOSE, Calif., March 18 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in human interface solutions for mobile computing and communications devices, today announced that IBM will use Synaptics` USB dual pointing solution in its UltraNav(TM) system for a new USB desktop keyboard. This marks the industry`s first USB dual pointing device, and the first IBM USB keyboard to contain both a TrackPoint(TM) pointing device and TouchPad(TM).
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"The same attention to improved ergonomics and increased usability found on IBM`s ThinkPad T30 is now available on a desktop keyboard," said Don Kirby, General Manager of the PC Group at Synaptics. "Synaptics` relationship with IBM allows for continued innovation in custom interface development and leadership in next generation mobile and desktop computing navigation devices."
To complement the UltraNav system, IBM has created a customized software wizard, in a question-and-answer format, making it simple for users to configure individual preferences on the dual pointing solution.
"Dual pointing device solutions deliver a significant increase in desktop flexibility and usability," explains Randy Giusto, Vice President, Personal Technologies and Services, of market research firm IDC. "By offering interface options on a USB keyboard and easy-to-use configurable software, you can provide technology leadership to meet the specific needs of the end user."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
NOTE: Synaptics, the Synaptics logo, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
IBM, TrackPoint and UltraNav are trademarks of International Business Machine Corporation.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the dual pointing product in the desktop keyboard market. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the dual pointing solution (b) market demand for OEM products using Synaptics` dual pointing solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Tuesday March 18, 11:31 am ET
SAN JOSE, Calif., March 18 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in human interface solutions for mobile computing and communications devices, today announced that IBM will use Synaptics` USB dual pointing solution in its UltraNav(TM) system for a new USB desktop keyboard. This marks the industry`s first USB dual pointing device, and the first IBM USB keyboard to contain both a TrackPoint(TM) pointing device and TouchPad(TM).
ADVERTISEMENT
"The same attention to improved ergonomics and increased usability found on IBM`s ThinkPad T30 is now available on a desktop keyboard," said Don Kirby, General Manager of the PC Group at Synaptics. "Synaptics` relationship with IBM allows for continued innovation in custom interface development and leadership in next generation mobile and desktop computing navigation devices."
To complement the UltraNav system, IBM has created a customized software wizard, in a question-and-answer format, making it simple for users to configure individual preferences on the dual pointing solution.
"Dual pointing device solutions deliver a significant increase in desktop flexibility and usability," explains Randy Giusto, Vice President, Personal Technologies and Services, of market research firm IDC. "By offering interface options on a USB keyboard and easy-to-use configurable software, you can provide technology leadership to meet the specific needs of the end user."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
NOTE: Synaptics, the Synaptics logo, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
IBM, TrackPoint and UltraNav are trademarks of International Business Machine Corporation.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the dual pointing product in the desktop keyboard market. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the dual pointing solution (b) market demand for OEM products using Synaptics` dual pointing solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
CONTACT: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Jennifer Ackman of Edelman, +1-650-429-2758, or jennifer.ackman@edelman.com, for Synaptics Incorporated.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics Reports Third Fiscal Quarter Financial Results
Thursday April 24, 4:06 pm ET
SAN JOSE, Calif., April 24 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the third fiscal quarter ended March 31, 2003.
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Net revenue for the third quarter of fiscal 2003 was $26.1 million compared to $24.4 million for the third quarter of the prior fiscal year. Actual (GAAP) net income for the third quarter of fiscal 2003 was $2.1 million, or $0.09 per basic share and $0.08 per diluted share. This compares with GAAP net income of $2.4 million, or $0.14 per basic share and $0.10 per diluted share, for the third quarter of fiscal 2002.
Pro forma net income for the third fiscal quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $2.2 million, or $0.09 per basic and diluted share. This compares to pro forma net income of $2.6 million, or $0.15 per basic share and $0.11 per diluted share, for the third quarter of the prior fiscal year. "We are pleased to report both sequential growth in revenue and profits as well as a return to year-over-year revenue growth," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Our results reflect solid execution in what is still a challenging business environment and in a quarter that historically is seasonally down. Innovation and design activity in the notebook market remains strong, and we have more than doubled our revenue contributions from our new market initiatives through the first nine-months of this fiscal year."
Russ Knittel, Synaptics` Chief Financial Officer, added, "We enter our fourth fiscal quarter with a strong backlog and anticipate sequential revenue growth of up to four percent. We expect this upside to be driven primarily by shipments into the new markets, as industry estimates call for flat to slightly down notebook shipments. While new design activity in the notebook market remains highly competitive, our current visibility points to continued sequential revenue growth in the September quarter."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications, and security solutions. Synaptics` products include TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular and capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, earnings expectations, cash flow expectations, and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s 10-K for the fiscal year ended June 30, 2002. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Synaptics discloses pro forma or non-GAAP measures of net income and earnings per share. Synaptics believes that this pro forma information provides greater comparability regarding its ongoing operating performance. These measures should not be considered an alternative to measurements required by accounting principles generally accepted in the United States ("U.S. GAAP"), such as net income and earnings per share. These pro forma measures are unlikely to be comparable to pro forma information provided by other companies. In accordance with SEC regulations, reconciliation of the Synaptics U.S. GAAP information to the pro forma information is provided in the table attached. We will also make available on the investor relations page of our web site at www.synaptics.com this press release, a replay of the Webcast, and a reconciliation of the difference between the GAAP and non-GAAP financial measures.
CONTACT: Russ Knittel of Synaptics Incorporated, +1-408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, +1-415-217-7722, or jennifer@blueshirtgroup.com, for Synaptics Incorporated.
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
2003 2002 2003 2002
Net revenue $26,103 $24,421 $72,479 $74,392
Cost of revenue 15,385 14,197 41,745 44,180
Gross margin 10,718 10,224 30,734 30,212
Operating expenses
Research and development 4,942 4,072 15,077 11,880
Selling, general, and
administrative 2,715 2,351 7,957 7,451
Amortization of intangible assets -- 29 40 104
Amortization of deferred stock
compensation 137 121 363 363
Total operating expenses 7,794 6,573 23,437 19,798
Operating income 2,924 3,651 7,297 10,414
Interest income 259 151 815 232
Interest expense (35) (43) (121) (156)
Income before income taxes 3,148 3,759 7,991 10,490
Provision for income taxes 1,079 1,321 2,877 3,663
Net income $2,069 $2,438 $5,114 $6,827
Net income per share:
Basic $0.09 $0.14 $0.22 $0.66
Diluted $0.08 $0.10 $0.21 $0.31
Shares used in computing net income
per share:
Basic 23,537 17,653 23,407 10,329
Diluted 25,125 24,422 24,869 21,720
Pro forma results (unaudited)
Reported net income $2,069 $2,438 $5,114 $6,827
Pro forma adjustments:
Amortization of goodwill and
other
acquired intangible assets -- 29 40 104
Amortization of deferred stock
compensation 137 121 363 363
Pro forma net income $2,206 $2,588 $5,517 $7,294
Pro forma earnings per share
Basic $0.09 $0.15 $0.24 $0.71
Diluted $0.09 $0.11 $0.22 $0.34
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
March 31, June 30,
2003 2002
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $38,584 $45,491
Short term investments 34,314 19,689
Accounts receivable, net of
allowances of $ 210 and $200
at March 31, 2003 and June 30,
2002, respectively 14,152 13,242
Inventories 5,782 5,867
Prepaid expenses and other current
assets 3,745 2,964
Total current assets 96,577 87,253
Property and equipment, net 1,870 2,043
Goodwill 765 765
Other acquired intangible assets, net -- 40
Other assets 270 280
Total assets $99,482 $90,381
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $6,806 $5,867
Accrued compensation 2,383 2,161
Accrued warranty 1,002 1,002
Income taxes payable 3,050 2,646
Other accrued liabilities 2,343 1,814
Capital leases and equipment
financing obligations 286 445
Total current liabilities 15,870 13,935
Capital leases and equipment financing
obligations, net of
current portion 55 259
Note payable to a related party 1,500 1,500
Other liabilities 741 684
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000
shares authorized;
no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000
shares authorized; 23,567,455
and 23,182,757 shares issued
and outstanding, respectively 24 23
Additional paid in capital 77,294 75,013
Deferred stock compensation (1,339) (1,085)
Notes receivable from stockholders (755) (876)
Retained earnings 5,979 865
Accumulated other comprehensive
income 113 63
Total stockholders` equity 81,316 74,003
Total liabilities and stockholders`
equity $99,482 $90,381
--------------------------------------------------------------------------------
Source: Synaptics
Thursday April 24, 4:06 pm ET
SAN JOSE, Calif., April 24 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in touch pads and other human interface solutions for mobile computing and communications devices, today reported financial results for the third fiscal quarter ended March 31, 2003.
ADVERTISEMENT
Net revenue for the third quarter of fiscal 2003 was $26.1 million compared to $24.4 million for the third quarter of the prior fiscal year. Actual (GAAP) net income for the third quarter of fiscal 2003 was $2.1 million, or $0.09 per basic share and $0.08 per diluted share. This compares with GAAP net income of $2.4 million, or $0.14 per basic share and $0.10 per diluted share, for the third quarter of fiscal 2002.
Pro forma net income for the third fiscal quarter, excluding non-cash charges related to the amortization of intangibles and deferred stock-based compensation, was $2.2 million, or $0.09 per basic and diluted share. This compares to pro forma net income of $2.6 million, or $0.15 per basic share and $0.11 per diluted share, for the third quarter of the prior fiscal year. "We are pleased to report both sequential growth in revenue and profits as well as a return to year-over-year revenue growth," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Our results reflect solid execution in what is still a challenging business environment and in a quarter that historically is seasonally down. Innovation and design activity in the notebook market remains strong, and we have more than doubled our revenue contributions from our new market initiatives through the first nine-months of this fiscal year."
Russ Knittel, Synaptics` Chief Financial Officer, added, "We enter our fourth fiscal quarter with a strong backlog and anticipate sequential revenue growth of up to four percent. We expect this upside to be driven primarily by shipments into the new markets, as industry estimates call for flat to slightly down notebook shipments. While new design activity in the notebook market remains highly competitive, our current visibility points to continued sequential revenue growth in the September quarter."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications, and security solutions. Synaptics` products include TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular and capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, earnings expectations, cash flow expectations, and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s 10-K for the fiscal year ended June 30, 2002. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Synaptics discloses pro forma or non-GAAP measures of net income and earnings per share. Synaptics believes that this pro forma information provides greater comparability regarding its ongoing operating performance. These measures should not be considered an alternative to measurements required by accounting principles generally accepted in the United States ("U.S. GAAP"), such as net income and earnings per share. These pro forma measures are unlikely to be comparable to pro forma information provided by other companies. In accordance with SEC regulations, reconciliation of the Synaptics U.S. GAAP information to the pro forma information is provided in the table attached. We will also make available on the investor relations page of our web site at www.synaptics.com this press release, a replay of the Webcast, and a reconciliation of the difference between the GAAP and non-GAAP financial measures.
CONTACT: Russ Knittel of Synaptics Incorporated, +1-408-434-0110, ext. 140, or russk@synaptics.com; or Jennifer Jarman of the blueshirt group, +1-415-217-7722, or jennifer@blueshirtgroup.com, for Synaptics Incorporated.
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
2003 2002 2003 2002
Net revenue $26,103 $24,421 $72,479 $74,392
Cost of revenue 15,385 14,197 41,745 44,180
Gross margin 10,718 10,224 30,734 30,212
Operating expenses
Research and development 4,942 4,072 15,077 11,880
Selling, general, and
administrative 2,715 2,351 7,957 7,451
Amortization of intangible assets -- 29 40 104
Amortization of deferred stock
compensation 137 121 363 363
Total operating expenses 7,794 6,573 23,437 19,798
Operating income 2,924 3,651 7,297 10,414
Interest income 259 151 815 232
Interest expense (35) (43) (121) (156)
Income before income taxes 3,148 3,759 7,991 10,490
Provision for income taxes 1,079 1,321 2,877 3,663
Net income $2,069 $2,438 $5,114 $6,827
Net income per share:
Basic $0.09 $0.14 $0.22 $0.66
Diluted $0.08 $0.10 $0.21 $0.31
Shares used in computing net income
per share:
Basic 23,537 17,653 23,407 10,329
Diluted 25,125 24,422 24,869 21,720
Pro forma results (unaudited)
Reported net income $2,069 $2,438 $5,114 $6,827
Pro forma adjustments:
Amortization of goodwill and
other
acquired intangible assets -- 29 40 104
Amortization of deferred stock
compensation 137 121 363 363
Pro forma net income $2,206 $2,588 $5,517 $7,294
Pro forma earnings per share
Basic $0.09 $0.15 $0.24 $0.71
Diluted $0.09 $0.11 $0.22 $0.34
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
March 31, June 30,
2003 2002
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $38,584 $45,491
Short term investments 34,314 19,689
Accounts receivable, net of
allowances of $ 210 and $200
at March 31, 2003 and June 30,
2002, respectively 14,152 13,242
Inventories 5,782 5,867
Prepaid expenses and other current
assets 3,745 2,964
Total current assets 96,577 87,253
Property and equipment, net 1,870 2,043
Goodwill 765 765
Other acquired intangible assets, net -- 40
Other assets 270 280
Total assets $99,482 $90,381
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $6,806 $5,867
Accrued compensation 2,383 2,161
Accrued warranty 1,002 1,002
Income taxes payable 3,050 2,646
Other accrued liabilities 2,343 1,814
Capital leases and equipment
financing obligations 286 445
Total current liabilities 15,870 13,935
Capital leases and equipment financing
obligations, net of
current portion 55 259
Note payable to a related party 1,500 1,500
Other liabilities 741 684
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000
shares authorized;
no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000
shares authorized; 23,567,455
and 23,182,757 shares issued
and outstanding, respectively 24 23
Additional paid in capital 77,294 75,013
Deferred stock compensation (1,339) (1,085)
Notes receivable from stockholders (755) (876)
Retained earnings 5,979 865
Accumulated other comprehensive
income 113 63
Total stockholders` equity 81,316 74,003
Total liabilities and stockholders`
equity $99,482 $90,381
--------------------------------------------------------------------------------
Source: Synaptics
Reuters
RESEARCH ALERT-Soundview starts Synaptics as "outperform"
Tuesday May 27, 11:58 am ET
NEW YORK, May 27 (Reuters) - Soundview Technology Group on Tuesday said it began coverage of Synaptics Inc. (NasdaqNM:SYNA - News), a maker of touch-sensitive computer screens and other products, with an "outperform" rating and a $14 price target citing the company`s patents and software drivers.
Shares of Synaptics closed at $10.15 on the Nasdaq Stock Market (News - Websites) on Friday.
RESEARCH ALERT-Soundview starts Synaptics as "outperform"
Tuesday May 27, 11:58 am ET
NEW YORK, May 27 (Reuters) - Soundview Technology Group on Tuesday said it began coverage of Synaptics Inc. (NasdaqNM:SYNA - News), a maker of touch-sensitive computer screens and other products, with an "outperform" rating and a $14 price target citing the company`s patents and software drivers.
Shares of Synaptics closed at $10.15 on the Nasdaq Stock Market (News - Websites) on Friday.
Synaptics Announces Illuminated TouchPad for Notebook Computers
Tuesday September 16, 8:02 am ET
Innovative LuxPad Solution Enhances Pride of Ownership for the Style-Oriented Consumer
SAN JOSE, Calif., Sept. 16 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in human interface solutions for mobile computing and communications devices, today announced the release of the LuxPad(TM), an innovative device that enhances a standard touch pad by adding illumination. Designed to support the growing trend of consumer-driven notebook designs, the Synaptics LuxPad can either light up the entire touchpad or light up a logo in the center of the TouchPad, depending on the preference of the notebook designer. LuxPad replaces a standard touchpad in a notebook computer, and offers the same superior performance and reliability that is the hallmark of Synaptics` products.
"Synaptics continues to develop innovative interface solutions that differentiate our customers from their competition," said Synaptics General Manager, Don Kirby. "Synaptics developed the LuxPad solution to give notebook designers a stylish, unique, and eye-catching interface solution that appeals to the growing number of consumers who are purchasing notebook computers."
"In the crowded market for notebook PCs, it is becoming very hard for OEMs to distinguish their product, while at the same time, style and appearance are becoming a major factor in the purchasing decision of customers," said Randy Giusto, Vice president, Personal Technology at IDC. "Notebook vendors continue to look for ways to enhance the style and appearance of their designs, thus increasing its attractiveness to consumers."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
NOTE: Synaptics, the Synaptics logo, LuxPad, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the LuxPad product in the notebook computer market. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the LuxPad solution (b) market demand for OEM products using Synaptics` LuxPad solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward- looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Amanda Mena Daniel Bingham
Synaptics Incorporated Edelman
408-434-0110x178 650-429-2788
amena@synaptics.com Daniel.bingham@edelman.com
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Tuesday September 16, 8:02 am ET
Innovative LuxPad Solution Enhances Pride of Ownership for the Style-Oriented Consumer
SAN JOSE, Calif., Sept. 16 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leader in human interface solutions for mobile computing and communications devices, today announced the release of the LuxPad(TM), an innovative device that enhances a standard touch pad by adding illumination. Designed to support the growing trend of consumer-driven notebook designs, the Synaptics LuxPad can either light up the entire touchpad or light up a logo in the center of the TouchPad, depending on the preference of the notebook designer. LuxPad replaces a standard touchpad in a notebook computer, and offers the same superior performance and reliability that is the hallmark of Synaptics` products.
"Synaptics continues to develop innovative interface solutions that differentiate our customers from their competition," said Synaptics General Manager, Don Kirby. "Synaptics developed the LuxPad solution to give notebook designers a stylish, unique, and eye-catching interface solution that appeals to the growing number of consumers who are purchasing notebook computers."
"In the crowded market for notebook PCs, it is becoming very hard for OEMs to distinguish their product, while at the same time, style and appearance are becoming a major factor in the purchasing decision of customers," said Randy Giusto, Vice president, Personal Technology at IDC. "Notebook vendors continue to look for ways to enhance the style and appearance of their designs, thus increasing its attractiveness to consumers."
About Synaptics Incorporated
Synaptics develops advanced interface solutions for products as diverse as notebook and desktop computers, mobile computing and communications devices, automotive applications and security solutions. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; cPad(TM), an LCD TouchPad; TouchScreen, a capacitive touch solution for large displays; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
NOTE: Synaptics, the Synaptics logo, LuxPad, cPad, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the LuxPad product in the notebook computer market. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the LuxPad solution (b) market demand for OEM products using Synaptics` LuxPad solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward- looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Amanda Mena Daniel Bingham
Synaptics Incorporated Edelman
408-434-0110x178 650-429-2788
amena@synaptics.com Daniel.bingham@edelman.com
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics Announces New Interface Solution for Samsung yepp YP-780 MP3 Player
Monday December 15, 11:00 am ET
Innovative New LightTouch(TM) Product Replaces Button Functionality with an Illuminated Touch Sensor
SAN JOSE, Calif., Dec. 15 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leading developer of interface solutions for mobile computing, communications, and entertainment devices, has developed a new capacitive interface solution for MP3 players. The LightTouch sensor, now shipping in Samsung yepp YP-780 MP3 players, replaces mechanical buttons with an illuminated sensor programmed to perform functions such as pause and play.
While the functionality and user experience remains familiar to the consumer, the LightTouch solution offers unique benefits to device designers and OEMs. LightTouch is designed for integration under the plastic face of the device, allowing for a sealed, thin design that is both stylish and durable. In addition, the LightTouch solution gets its name from the integrated LEDs that, along with the supporting electronics, are incorporated onto a single module, making it easy for OEMs to design into their device.
"We are pleased to work with an innovative company such as Samsung to find new and unique ways to integrate our technology into portable devices," said Clark Foy, Synaptics Vice President of Marketing. "The success of the yepp YP-780 development is another example of how Synaptics technology can be leveraged into new and exciting applications."
"We believe that it is critical for an MP3 player such as the yepp YP-780 to have a simple and easy to use interface," explains Samsung`s Director of yepp Business Team, Simon Chang. "By working with Synaptics, we have been able to develop an interface solution that is both intuitive, and very stylish."
The yepp YP-780 a flash-based MP3 player that is available in 128 MB, 256 MB and 512 MB versions. Its compact and robust design makes it ideal for today`s active lifestyles. For more information on the yepp YP-780, visit Samsung Web sites, www.samsung.com.
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications, and entertainment devices. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Samsung Electronics
Samsung Electronics Co. Ltd. is a global leader in semiconductor, telecommunication, and digital convergence technology. Samsung Electronics employs approximately 48,000 people in 89 offices in 47 countries. The company is the world`s largest producer of memory chips, TFT-LCDs, CDMA mobile phones, monitors and VCRs. Samsung Electronics consists of four main business units: Digital Media Network, Device Solution Network, Telecommunication Network and Digital Appliance Network Businesses.
For more information, please visit http://www.samsungelectronics.com
Synaptics, the Synaptics logo, LightTouch, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the LuxPad product in the notebook computer market. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the LightTouch solution (b) market demand for OEM products using Synaptics` LightTouch solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Amanda Mena Dan Bingham
Synaptics Incorporated Edelman
408-434-0110x178 650-429-2788
amena@synaptics.com Daniel.bingham@edelman.com
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Monday December 15, 11:00 am ET
Innovative New LightTouch(TM) Product Replaces Button Functionality with an Illuminated Touch Sensor
SAN JOSE, Calif., Dec. 15 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leading developer of interface solutions for mobile computing, communications, and entertainment devices, has developed a new capacitive interface solution for MP3 players. The LightTouch sensor, now shipping in Samsung yepp YP-780 MP3 players, replaces mechanical buttons with an illuminated sensor programmed to perform functions such as pause and play.
While the functionality and user experience remains familiar to the consumer, the LightTouch solution offers unique benefits to device designers and OEMs. LightTouch is designed for integration under the plastic face of the device, allowing for a sealed, thin design that is both stylish and durable. In addition, the LightTouch solution gets its name from the integrated LEDs that, along with the supporting electronics, are incorporated onto a single module, making it easy for OEMs to design into their device.
"We are pleased to work with an innovative company such as Samsung to find new and unique ways to integrate our technology into portable devices," said Clark Foy, Synaptics Vice President of Marketing. "The success of the yepp YP-780 development is another example of how Synaptics technology can be leveraged into new and exciting applications."
"We believe that it is critical for an MP3 player such as the yepp YP-780 to have a simple and easy to use interface," explains Samsung`s Director of yepp Business Team, Simon Chang. "By working with Synaptics, we have been able to develop an interface solution that is both intuitive, and very stylish."
The yepp YP-780 a flash-based MP3 player that is available in 128 MB, 256 MB and 512 MB versions. Its compact and robust design makes it ideal for today`s active lifestyles. For more information on the yepp YP-780, visit Samsung Web sites, www.samsung.com.
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications, and entertainment devices. Synaptics products include: TouchPad(TM), the industry standard notebook pointing device; ClearPad(TM), a capacitive touch screen solution; TouchStyk(TM), a modular capacitive pointing stick solution; Spiral®, an inductive, proximity sensing pen input system; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
About Samsung Electronics
Samsung Electronics Co. Ltd. is a global leader in semiconductor, telecommunication, and digital convergence technology. Samsung Electronics employs approximately 48,000 people in 89 offices in 47 countries. The company is the world`s largest producer of memory chips, TFT-LCDs, CDMA mobile phones, monitors and VCRs. Samsung Electronics consists of four main business units: Digital Media Network, Device Solution Network, Telecommunication Network and Digital Appliance Network Businesses.
For more information, please visit http://www.samsungelectronics.com
Synaptics, the Synaptics logo, LightTouch, TouchPad, TouchStyk, ClearPad, Spiral, and QuickStroke are trademarks or registered trademarks of Synaptics.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, expectations of the market acceptability of the LuxPad product in the notebook computer market. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to: (a) market demand for the LightTouch solution (b) market demand for OEM products using Synaptics` LightTouch solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Amanda Mena Dan Bingham
Synaptics Incorporated Edelman
408-434-0110x178 650-429-2788
amena@synaptics.com Daniel.bingham@edelman.com
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics Reports Record Second Quarter Results
Thursday January 22, 4:16 pm ET
Achieves Record Profitability and Third Consecutive Quarter of Record Revenues
SAN JOSE, Calif., Jan. 22 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the second fiscal quarter ended December 31, 2003.
Net revenue for the second quarter of fiscal 2004 was $34.3 million, a 42% increase compared to $24.2 million for the second quarter of the prior fiscal year. Actual (GAAP) net income for the second quarter of fiscal 2004 was $3.5 million, or $0.13 per diluted share, which includes non-cash charges related to the amortization of deferred stock-based compensation of $132,000, or $0.01 per diluted share. This represents a 90% increase from actual net income of $1.8 million, or $0.07 per diluted share, for the comparable quarter of the prior fiscal year.
"We achieved record profitability and our third consecutive quarter of record revenues in the December quarter as we benefited from strong notebook sales during the holiday period and exceptional growth in the non-notebook sector, which represented approximately 16% of total revenues," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Design levels and implementations for our notebook TouchPad products remained very healthy and our non-notebook results were led by strong traction in the portable digital entertainment market. We are encouraged by our ongoing efforts in the portable digital device arena, which point to increasing design activity in the months ahead. We also continued to strengthen our balance sheet during the quarter, exiting December with over $84 million in cash and short-term investments."
Russ Knittel, Synaptics` Chief Financial Officer, added, "Our current assessment of the notebook market suggests that sell through levels in the December quarter were generally as expected, and we ended the period with a backlog of over $17 million. As we exit the seasonally strongest quarter of the calendar year, we expect to see the impact of seasonality in the notebook market in the March quarter, but believe it will be at the lower end of the historical range for the industry. We expect this trend to be offset by continued strength in the portable digital entertainment market and are forecasting revenues to be essentially flat in the March quarter and up slightly in the June quarter based on current visibility."
Earnings Call Information
The Synaptics second quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, January 22, 2004. To participate on the live call, analysts and investors should dial 800-257-7063 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ . A telephonic replay of the conference call will also be available for 48 hours by dialing 800-405-2236 and entering the passcode: 566021.
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications and entertainment devices, with its products found in over 50 percent of today`s notebook computers. Synaptics` engineered solutions for device manufacturers include: TouchPad(TM) the industry standard notebook pointing device; TouchStyk(TM), a modular capacitive pointing stick solution; SpeakerPad(TM), an integrated audio speaker and notebook TouchPad; LuxPad(TM), an illuminated TouchPad; TouchRing(TM), a one dimensional scrolling solution for MP3 devices; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, earnings expectations, cash flow expectations, and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s Annual Report on Form 10-K for the fiscal year ended June 30, 2003. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Russ Knittel Jennifer Jarman
Synaptics Incorporated the blueshirt group
408-434-0110 x 140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
Dec. 31, June 30,
2003 2003
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $47,849 $41,697
Short term investments 36,222 35,589
Restricted cash 240 240
Accounts receivable, net of allowances
of $130 and $160 at December 31, 2003,
and June 30, 2003, respectively 17,717 13,181
Inventories 5,081 6,428
Prepaid expenses and other current assets 2,197 2,637
Total current assets 109,306 99,772
Property and equipment, net 1,755 1,934
Goodwill 1,891 1,968
Other assets 834 834
Total assets $113,786 $104,508
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $5,855 $6,893
Accrued compensation 3,424 2,808
Accrued warranty 937 1,002
Income taxes payable 4,419 1,661
Other accrued liabilities 2,922 3,362
Capital leases and equipment financing
obligations 94 231
Total current liabilities 17,651 15,957
Capital leases and equipment financing
obligations, net of current portion -- 28
Note payable to a related party 1,500 1,500
Other liabilities 829 759
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized; no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares
authorized; 24,264,165 and 23,835,877
shares issued and outstanding,
respectively 24 24
Additional paid in capital 80,293 78,761
Deferred stock compensation (901) (1,184)
Notes receivable from stockholders -- (20)
Retained earnings 14,351 8,583
Accumulated other comprehensive income 39 100
Total stockholders` equity 93,806 86,264
Total liabilities and stockholders` equity $113,786 $104,508
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Six Months Ended
December 31, December 31,
2003 2002 2003 2002
Net revenue $34,274 $24,199 $63,845 $46,376
Cost of revenue 20,134 13,917 37,560 26,360
Gross margin 14,140 10,282 26,285 20,016
Operating expenses
Research and
development 5,130 4,812 10,226 10,135
Selling, general,
and administrative 3,293 2,638 6,367 5,242
Amortization of
intangible assets -- 10 -- 40
Amortization of
deferred stock
compensation 132 116 269 226
Restructuring -- -- 432 --
Total operating
expenses 8,555 7,576 17,294 15,643
Operating income 5,585 2,706 8,991 4,373
Interest and other
income, net 229 279 455 556
Interest expense (34) (47) (68) (86)
Income before income
taxes 5,780 2,938 9,378 4,843
Provision for
income taxes 2,279 1,093 3,610 1,798
Net income $3,501 $1,845 $5,768 $3,045
Net income per share:
Basic $0.15 $0.08 $0.24 $0.13
Diluted $0.13 $0.07 $0.22 $0.12
Shares used in
computing net
income per
share:
Basic 24,112,862 23,386,723 24,063,583 23,309,271
Diluted 26,725,178 25,083,296 26,602,849 24,957,002
Pro forma results
(unaudited)
Reported net
income $3,501 $1,845 $5,768 $3,045
Pro forma
adjustments:
Amortization of
goodwill and
other acquired
intangible
assets -- 10 -- 40
Amortization of
deferred stock
compensation 132 116 269 226
Restructuring
(tax effected) -- -- 272 --
Pro forma net income $3,633 $1,971 $6,309 $3,311
Pro forma earnings
per share
Basic $0.15 $0.08 $0.26 $0.14
Diluted $0.14 $0.08 $0.24 $0.13
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Thursday January 22, 4:16 pm ET
Achieves Record Profitability and Third Consecutive Quarter of Record Revenues
SAN JOSE, Calif., Jan. 22 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the second fiscal quarter ended December 31, 2003.
Net revenue for the second quarter of fiscal 2004 was $34.3 million, a 42% increase compared to $24.2 million for the second quarter of the prior fiscal year. Actual (GAAP) net income for the second quarter of fiscal 2004 was $3.5 million, or $0.13 per diluted share, which includes non-cash charges related to the amortization of deferred stock-based compensation of $132,000, or $0.01 per diluted share. This represents a 90% increase from actual net income of $1.8 million, or $0.07 per diluted share, for the comparable quarter of the prior fiscal year.
"We achieved record profitability and our third consecutive quarter of record revenues in the December quarter as we benefited from strong notebook sales during the holiday period and exceptional growth in the non-notebook sector, which represented approximately 16% of total revenues," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Design levels and implementations for our notebook TouchPad products remained very healthy and our non-notebook results were led by strong traction in the portable digital entertainment market. We are encouraged by our ongoing efforts in the portable digital device arena, which point to increasing design activity in the months ahead. We also continued to strengthen our balance sheet during the quarter, exiting December with over $84 million in cash and short-term investments."
Russ Knittel, Synaptics` Chief Financial Officer, added, "Our current assessment of the notebook market suggests that sell through levels in the December quarter were generally as expected, and we ended the period with a backlog of over $17 million. As we exit the seasonally strongest quarter of the calendar year, we expect to see the impact of seasonality in the notebook market in the March quarter, but believe it will be at the lower end of the historical range for the industry. We expect this trend to be offset by continued strength in the portable digital entertainment market and are forecasting revenues to be essentially flat in the March quarter and up slightly in the June quarter based on current visibility."
Earnings Call Information
The Synaptics second quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, January 22, 2004. To participate on the live call, analysts and investors should dial 800-257-7063 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ . A telephonic replay of the conference call will also be available for 48 hours by dialing 800-405-2236 and entering the passcode: 566021.
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications and entertainment devices, with its products found in over 50 percent of today`s notebook computers. Synaptics` engineered solutions for device manufacturers include: TouchPad(TM) the industry standard notebook pointing device; TouchStyk(TM), a modular capacitive pointing stick solution; SpeakerPad(TM), an integrated audio speaker and notebook TouchPad; LuxPad(TM), an illuminated TouchPad; TouchRing(TM), a one dimensional scrolling solution for MP3 devices; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, earnings expectations, cash flow expectations, and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company`s Annual Report on Form 10-K for the fiscal year ended June 30, 2003. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Russ Knittel Jennifer Jarman
Synaptics Incorporated the blueshirt group
408-434-0110 x 140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
Dec. 31, June 30,
2003 2003
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $47,849 $41,697
Short term investments 36,222 35,589
Restricted cash 240 240
Accounts receivable, net of allowances
of $130 and $160 at December 31, 2003,
and June 30, 2003, respectively 17,717 13,181
Inventories 5,081 6,428
Prepaid expenses and other current assets 2,197 2,637
Total current assets 109,306 99,772
Property and equipment, net 1,755 1,934
Goodwill 1,891 1,968
Other assets 834 834
Total assets $113,786 $104,508
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $5,855 $6,893
Accrued compensation 3,424 2,808
Accrued warranty 937 1,002
Income taxes payable 4,419 1,661
Other accrued liabilities 2,922 3,362
Capital leases and equipment financing
obligations 94 231
Total current liabilities 17,651 15,957
Capital leases and equipment financing
obligations, net of current portion -- 28
Note payable to a related party 1,500 1,500
Other liabilities 829 759
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized; no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares
authorized; 24,264,165 and 23,835,877
shares issued and outstanding,
respectively 24 24
Additional paid in capital 80,293 78,761
Deferred stock compensation (901) (1,184)
Notes receivable from stockholders -- (20)
Retained earnings 14,351 8,583
Accumulated other comprehensive income 39 100
Total stockholders` equity 93,806 86,264
Total liabilities and stockholders` equity $113,786 $104,508
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Six Months Ended
December 31, December 31,
2003 2002 2003 2002
Net revenue $34,274 $24,199 $63,845 $46,376
Cost of revenue 20,134 13,917 37,560 26,360
Gross margin 14,140 10,282 26,285 20,016
Operating expenses
Research and
development 5,130 4,812 10,226 10,135
Selling, general,
and administrative 3,293 2,638 6,367 5,242
Amortization of
intangible assets -- 10 -- 40
Amortization of
deferred stock
compensation 132 116 269 226
Restructuring -- -- 432 --
Total operating
expenses 8,555 7,576 17,294 15,643
Operating income 5,585 2,706 8,991 4,373
Interest and other
income, net 229 279 455 556
Interest expense (34) (47) (68) (86)
Income before income
taxes 5,780 2,938 9,378 4,843
Provision for
income taxes 2,279 1,093 3,610 1,798
Net income $3,501 $1,845 $5,768 $3,045
Net income per share:
Basic $0.15 $0.08 $0.24 $0.13
Diluted $0.13 $0.07 $0.22 $0.12
Shares used in
computing net
income per
share:
Basic 24,112,862 23,386,723 24,063,583 23,309,271
Diluted 26,725,178 25,083,296 26,602,849 24,957,002
Pro forma results
(unaudited)
Reported net
income $3,501 $1,845 $5,768 $3,045
Pro forma
adjustments:
Amortization of
goodwill and
other acquired
intangible
assets -- 10 -- 40
Amortization of
deferred stock
compensation 132 116 269 226
Restructuring
(tax effected) -- -- 272 --
Pro forma net income $3,633 $1,971 $6,309 $3,311
Pro forma earnings
per share
Basic $0.15 $0.08 $0.26 $0.14
Diluted $0.14 $0.08 $0.24 $0.13
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
wirklich beeindruckend
Synaptics beats target, boosts sales
By Mike Tarsala, CBS.MarketWatch.com
Last Update: 4:17 PM ET Jan. 22, 2004
SAN FRANCISCO (CBS.MW) -- Synaptics on Thursday said its quarterly earnings nearly doubled and beat analysts` expectations, with a 42 percent revenue boost that was driven by sales of interface products used in notebook computers.
San Jose, Calif.-based Synaptics (SYNA: news, chart, profile), maker of systems that act as a mouse and control the cursor of notebooks and handheld electronics such as MP3 players, earned $3.5 million, or 13 cents a share in its second quarter, which ended Dec. 31, up from $1.8 million, or 7 cents a share, in the same period a year earlier.
"The notebook market has been extremely strong," said Francis Lee, the company`s chief executive, in an interview. "We have entrenched our leadership in that particular sector."
Lee said that sales were up "significantly" from the previous quarter in the company`s non-PC sector, which sells interface devices used in personal digital assistants and other handhelds. That part of the business makes up about 16 percent of the company`s revenue.
Excluding non-cash charges related to deferred stock-based compensation, the company said it earned $3.63 million, or 14 cents a share, up from $1.97 million, or 8 cents a share, in the same period last year. By that measure, analysts polled by Thomson First Call had been expecting earnings of 12 cents a share, on average.
Revenue rose to $34.3 million, up from $24.2 million in the second quarter a year earlier. Analysts had been expecting sales of about $33 million, on average.
In the company`s third quarter ending in March, which usually shows seasonal weakness compared with the December quarter, Lee said sales should be "comparable in terms of revenue as Q2." Analysts are currently expecting third-quarter sales of $31 million.
"The March quarter will be in parity with the December quarter sales, and we`re expecting the June quarter to be higher than in March," Lee said.
Shares of Synaptics closed at $16.20, down 20 cents, before the afternoon announcement.
Mike Tarsala is a San Francisco-based reporter for CBS.MarketWatch.com.
Synaptics beats target, boosts sales
By Mike Tarsala, CBS.MarketWatch.com
Last Update: 4:17 PM ET Jan. 22, 2004
SAN FRANCISCO (CBS.MW) -- Synaptics on Thursday said its quarterly earnings nearly doubled and beat analysts` expectations, with a 42 percent revenue boost that was driven by sales of interface products used in notebook computers.
San Jose, Calif.-based Synaptics (SYNA: news, chart, profile), maker of systems that act as a mouse and control the cursor of notebooks and handheld electronics such as MP3 players, earned $3.5 million, or 13 cents a share in its second quarter, which ended Dec. 31, up from $1.8 million, or 7 cents a share, in the same period a year earlier.
"The notebook market has been extremely strong," said Francis Lee, the company`s chief executive, in an interview. "We have entrenched our leadership in that particular sector."
Lee said that sales were up "significantly" from the previous quarter in the company`s non-PC sector, which sells interface devices used in personal digital assistants and other handhelds. That part of the business makes up about 16 percent of the company`s revenue.
Excluding non-cash charges related to deferred stock-based compensation, the company said it earned $3.63 million, or 14 cents a share, up from $1.97 million, or 8 cents a share, in the same period last year. By that measure, analysts polled by Thomson First Call had been expecting earnings of 12 cents a share, on average.
Revenue rose to $34.3 million, up from $24.2 million in the second quarter a year earlier. Analysts had been expecting sales of about $33 million, on average.
In the company`s third quarter ending in March, which usually shows seasonal weakness compared with the December quarter, Lee said sales should be "comparable in terms of revenue as Q2." Analysts are currently expecting third-quarter sales of $31 million.
"The March quarter will be in parity with the December quarter sales, and we`re expecting the June quarter to be higher than in March," Lee said.
Shares of Synaptics closed at $16.20, down 20 cents, before the afternoon announcement.
Mike Tarsala is a San Francisco-based reporter for CBS.MarketWatch.com.
Synaptics Reports Third Quarter Results
Thursday April 22, 4:16 pm ET
Increasing New Market Revenues Offset Seasonality in the Notebook Sector
SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the third fiscal quarter ended March 31, 2004.
ADVERTISEMENT
Net revenue for the third quarter of fiscal 2004 was $34.3 million, a 31% increase over the $26.1 million for the third quarter of the prior fiscal year. Actual (GAAP) net income for the third quarter of fiscal 2004 was $3.5 million, or $0.13 per diluted share, which includes non-cash charges related to the amortization of deferred stock-based compensation of $128,000. This represents a 69% increase from actual net income of $2.1 million, or $0.08 per diluted share, for the comparable quarter of the prior fiscal year.
"We are very pleased with our financial results, as we posted another solid quarter despite the reported higher than expected inventory levels within the notebook sector during the period," stated Francis Lee, President and Chief Executive Officer of Synaptics. "While we did see a higher than anticipated seasonal decline of shipments into the notebook market, it was offset by a richer product mix, and continued growth of our non-notebook revenue, which represented approximately 19% of total revenues and was driven by continued strength in the portable digital entertainment market. We maintained our leadership position in the notebook market through our emphasis on product innovation and are well poised to continue to expand our business outside of the notebook market."
Russ Knittel, Synaptics` Chief Financial Officer, added, "We met our revenue target and matched the December quarter`s record profitability level, generating more than $4 million of cash from operations during the quarter and exiting March with approximately $91 million in cash and short-term investments. Given that our design activity remains strong across our key focus areas, our outlook for the June quarter calls for a sequential revenue increase of up to three percent, reflecting growth in both the notebook and portable music player segments, followed by another sequential rise in the September quarter."
Earnings Call Information
The Synaptics third quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, April 22, 2004, during which management may discuss forward-looking information. To participate on the live call, analysts and investors should dial 800-218-9073 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ . A telephonic replay of the conference call will also be available for 48 hours by dialing 800-405-2236 and entering the passcode: 575185.
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications and entertainment devices, with its products found in over 50 percent of today`s notebook computers. Synaptics` engineered solutions for device manufacturers include: TouchPad(TM) the industry standard notebook navigation device; TouchStyk(TM), a modular capacitive pointing stick solution; SpeakerPad(TM), an integrated audio speaker and notebook TouchPad; LuxPad(TM), an illuminated TouchPad: TouchRing(TM), a one dimensional scrolling solution for MP3 devices; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, current reports on Form 8-K, and the Company`s Annual Report on Form 10-K for the fiscal year ended June 30, 2003. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Russ Knittel Jennifer Jarman
Synaptics Incorporated the blueshirt group
408-434-0110x140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
March 31, June 30,
2004 2003
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $55,494 $41,697
Short term investments 35,291 35,589
Restricted cash 240 240
Accounts receivable, net of allowances
of $130 and $160 at March 31, 2004,
and June 30, 2003, respectively 18,808 13,181
Inventories 5,477 6,428
Prepaid expenses and other current assets 2,779 2,637
Total current assets 118,089 99,772
Property and equipment, net 1,976 1,934
Goodwill 1,891 1,968
Other assets 937 834
Total assets $122,893 $104,508
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $8,300 $6,893
Accrued compensation 3,632 2,808
Accrued warranty 891 1,002
Income taxes payable 4,788 1,661
Other accrued liabilities 2,638 3,362
Capital leases and equipment financing
obligations 55 231
Total current liabilities 20,304 15,957
Capital leases and equipment financing
obligations, net of current portion -- 28
Note payable to a related party 1,500 1,500
Other liabilities 843 759
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized; no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares
authorized; 24,814,164 and 23,835,877
shares issued and outstanding,
respectively 25 24
Additional paid in capital 83,111 78,761
Deferred stock compensation (760) (1,184)
Notes receivable from stockholders -- (20)
Retained earnings 17,856 8,583
Accumulated other comprehensive income 14 100
Total stockholders` equity 100,246 86,264
Total liabilities and stockholders` equity $122,893 $104,508
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
2004 2003 2004 2003
Net revenue $34,284 $26,103 $98,129 $72,479
Cost of revenue 19,726 15,385 57,286 41,745
Gross margin 14,558 10,718 40,843 30,734
Operating expenses
Research and
development 5,613 4,942 15,839 15,077
Selling, general,
and administrative 3,452 2,715 9,819 7,957
Amortization of
intangible assets -- -- -- 40
Amortization of
deferred stock
compensation 128 137 397 363
Restructuring -- -- 432 --
Total operating
expenses 9,193 7,794 26,487 23,437
Operating income 5,365 2,924 14,356 7,297
Interest and other
income, net 246 259 701 815
Interest expense (33) (35) (101) (121)
Income before income
taxes 5,578 3,148 14,956 7,991
Provision for income
taxes 2,073 1,079 5,683 2,887
Net income $3,505 $2,069 $9,273 $5,114
Net income per share:
Basic $0.14 $0.09 $0.38 $0.22
Diluted $0.13 $0.08 $0.34 $0.21
Shares used in
computing net
income per share:
Basic 24,671,358 23,537,666 24,266,653 23,407,637
Diluted 27,451,066 25,125,131 26,921,070 24,869,050
Pro forma results
(unaudited)
Reported net
income $3,505 $2,069 $9,273 $5,114
Pro forma
adjustments:
Amortization of
goodwill and
other acquired
intangible
assets -- -- -- 40
Amortization of
deferred stock
compensation 128 137 397 363
Restructuring
(tax effected) -- -- 272 --
Pro forma net income $3,633 $2,206 $9,942 $5,517
Pro forma earnings
per share
Basic $0.15 $0.09 $0.41 $0.24
Diluted $0.13 $0.09 $0.37 $0.22
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Thursday April 22, 4:16 pm ET
Increasing New Market Revenues Offset Seasonality in the Notebook Sector
SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the third fiscal quarter ended March 31, 2004.
ADVERTISEMENT
Net revenue for the third quarter of fiscal 2004 was $34.3 million, a 31% increase over the $26.1 million for the third quarter of the prior fiscal year. Actual (GAAP) net income for the third quarter of fiscal 2004 was $3.5 million, or $0.13 per diluted share, which includes non-cash charges related to the amortization of deferred stock-based compensation of $128,000. This represents a 69% increase from actual net income of $2.1 million, or $0.08 per diluted share, for the comparable quarter of the prior fiscal year.
"We are very pleased with our financial results, as we posted another solid quarter despite the reported higher than expected inventory levels within the notebook sector during the period," stated Francis Lee, President and Chief Executive Officer of Synaptics. "While we did see a higher than anticipated seasonal decline of shipments into the notebook market, it was offset by a richer product mix, and continued growth of our non-notebook revenue, which represented approximately 19% of total revenues and was driven by continued strength in the portable digital entertainment market. We maintained our leadership position in the notebook market through our emphasis on product innovation and are well poised to continue to expand our business outside of the notebook market."
Russ Knittel, Synaptics` Chief Financial Officer, added, "We met our revenue target and matched the December quarter`s record profitability level, generating more than $4 million of cash from operations during the quarter and exiting March with approximately $91 million in cash and short-term investments. Given that our design activity remains strong across our key focus areas, our outlook for the June quarter calls for a sequential revenue increase of up to three percent, reflecting growth in both the notebook and portable music player segments, followed by another sequential rise in the September quarter."
Earnings Call Information
The Synaptics third quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, April 22, 2004, during which management may discuss forward-looking information. To participate on the live call, analysts and investors should dial 800-218-9073 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ . A telephonic replay of the conference call will also be available for 48 hours by dialing 800-405-2236 and entering the passcode: 575185.
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications and entertainment devices, with its products found in over 50 percent of today`s notebook computers. Synaptics` engineered solutions for device manufacturers include: TouchPad(TM) the industry standard notebook navigation device; TouchStyk(TM), a modular capacitive pointing stick solution; SpeakerPad(TM), an integrated audio speaker and notebook TouchPad; LuxPad(TM), an illuminated TouchPad: TouchRing(TM), a one dimensional scrolling solution for MP3 devices; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the World Wide Web at www.synaptics.com.
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations, and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, current reports on Form 8-K, and the Company`s Annual Report on Form 10-K for the fiscal year ended June 30, 2003. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Russ Knittel Jennifer Jarman
Synaptics Incorporated the blueshirt group
408-434-0110x140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
March 31, June 30,
2004 2003
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $55,494 $41,697
Short term investments 35,291 35,589
Restricted cash 240 240
Accounts receivable, net of allowances
of $130 and $160 at March 31, 2004,
and June 30, 2003, respectively 18,808 13,181
Inventories 5,477 6,428
Prepaid expenses and other current assets 2,779 2,637
Total current assets 118,089 99,772
Property and equipment, net 1,976 1,934
Goodwill 1,891 1,968
Other assets 937 834
Total assets $122,893 $104,508
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $8,300 $6,893
Accrued compensation 3,632 2,808
Accrued warranty 891 1,002
Income taxes payable 4,788 1,661
Other accrued liabilities 2,638 3,362
Capital leases and equipment financing
obligations 55 231
Total current liabilities 20,304 15,957
Capital leases and equipment financing
obligations, net of current portion -- 28
Note payable to a related party 1,500 1,500
Other liabilities 843 759
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized; no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares
authorized; 24,814,164 and 23,835,877
shares issued and outstanding,
respectively 25 24
Additional paid in capital 83,111 78,761
Deferred stock compensation (760) (1,184)
Notes receivable from stockholders -- (20)
Retained earnings 17,856 8,583
Accumulated other comprehensive income 14 100
Total stockholders` equity 100,246 86,264
Total liabilities and stockholders` equity $122,893 $104,508
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share data)
(unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
2004 2003 2004 2003
Net revenue $34,284 $26,103 $98,129 $72,479
Cost of revenue 19,726 15,385 57,286 41,745
Gross margin 14,558 10,718 40,843 30,734
Operating expenses
Research and
development 5,613 4,942 15,839 15,077
Selling, general,
and administrative 3,452 2,715 9,819 7,957
Amortization of
intangible assets -- -- -- 40
Amortization of
deferred stock
compensation 128 137 397 363
Restructuring -- -- 432 --
Total operating
expenses 9,193 7,794 26,487 23,437
Operating income 5,365 2,924 14,356 7,297
Interest and other
income, net 246 259 701 815
Interest expense (33) (35) (101) (121)
Income before income
taxes 5,578 3,148 14,956 7,991
Provision for income
taxes 2,073 1,079 5,683 2,887
Net income $3,505 $2,069 $9,273 $5,114
Net income per share:
Basic $0.14 $0.09 $0.38 $0.22
Diluted $0.13 $0.08 $0.34 $0.21
Shares used in
computing net
income per share:
Basic 24,671,358 23,537,666 24,266,653 23,407,637
Diluted 27,451,066 25,125,131 26,921,070 24,869,050
Pro forma results
(unaudited)
Reported net
income $3,505 $2,069 $9,273 $5,114
Pro forma
adjustments:
Amortization of
goodwill and
other acquired
intangible
assets -- -- -- 40
Amortization of
deferred stock
compensation 128 137 397 363
Restructuring
(tax effected) -- -- 272 --
Pro forma net income $3,633 $2,206 $9,942 $5,517
Pro forma earnings
per share
Basic $0.15 $0.09 $0.41 $0.24
Diluted $0.13 $0.09 $0.37 $0.22
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics Reports Record First Quarter Results
Thursday October 21, 4:15 pm ET
SAN JOSE, Calif., Oct. 21 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the first fiscal quarter ended September 30, 2004.
ADVERTISEMENT
Net revenue for the first quarter of fiscal 2005 was $38.1 million, an increase of approximately 29% over the $29.6 million for the first quarter of fiscal 2004. GAAP net income for the first quarter of fiscal 2005 was $4.4 million, or $0.16 per diluted share. This represents an increase of approximately 95% compared with GAAP net income of $2.3 million, or $0.09 per diluted share, for the first quarter of fiscal 2004.
"We achieved sequential revenue and net income growth in the first fiscal quarter of approximately 8% and 19%, respectively," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Our performance exceeded our expectations and was driven by improved gross margins and continued momentum in the portable digital entertainment market. Revenues from our new market initiatives grew strongly to 33% of total revenues, the highest quarterly revenue to date. Design activity remains robust across our key target markets, and we are excited about our new solutions for desktop PCs and portable consumer devices as we enter the holiday period."
Russ Knittel, Synaptics` Chief Financial Officer, added, "Our visibility entering the December quarter is greatly improved, evidenced by our record backlog of more than $39 million. We are projecting significant sequential revenue growth in the range of 35% to 45% in the second fiscal quarter primarily reflecting continued strong demand for portable digital music players. We expect revenues in the March quarter to be in excess of the September quarter levels but down sequentially based on seasonal patterns, the extent of which will depend largely on end device sell-through in the December quarter."
Earnings Call Information
The Synaptics first quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, October 21, 2004, during which management may discuss forward-looking information. To participate on the live call, analysts and investors should dial 800-218-8862 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ .
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications and entertainment devices, with its products found in over 50 percent of today`s notebook computers. Synaptics` engineered solutions for device manufacturers include: TouchPad(TM) the industry standard notebook navigation device; MobileTouch(TM), a customizable scrolling, input and navigation solution for mobile handsets; TouchRing(TM), a one dimensional scrolling solution for MP3 devices; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the web at www.synaptics.com.
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws. Synaptics intends such forward- looking statements to be subject to the safe harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, current reports on Form 8-K, and the Company`s Annual Report on Form 10-K for the fiscal year ended June 30, 2004. All forward- looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Russ Knittel Jennifer Jarman
Synaptics Incorporated The Blueshirt Group
408-434-0110x140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
September 30, June 30,
2004 2004
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $59,837 $59,489
Short term investments 37,463 36,810
Accounts receivable, net of allowances
of $164 and $130 at September 30, 2004,
and June 30, 2004, respectively 29,462 21,875
Inventories 7,684 6,525
Prepaid expenses and other current assets 3,323 3,083
Total current assets 137,769 127,782
Property and equipment, net 1,853 1,829
Goodwill 1,927 1,927
Other assets 1,040 1,115
Total assets $142,589 $132,653
Liabilities and Stockholders` equity
Current liabilities:
Accounts payable $11,325 $9,220
Accrued compensation 3,143 4,594
Accrued warranty 596 704
Income taxes payable 7,102 4,018
Other accrued liabilities 3,296 2,594
Capital leases and equipment financing
obligations -- 28
Total current liabilities 25,462 21,158
Note payable to a related party 1,500 1,500
Other liabilities 854 855
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized; no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares
authorized; 25,165,274 and 24,987,398
shares issued and outstanding,
respectively 25 25
Additional paid in capital 89,353 88,334
Deferred stock compensation (532) (634)
Retained earnings 26,006 21,575
Accumulated other comprehensive loss (79) (160)
Total stockholders` equity 114,773 109,140
Total liabilities and stockholders` equity $142,589 $132,653
SYNAPTICS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share and share data)
(unaudited)
Three Months Three Months
Ended Ended
Sept. 30, Sept. 30,
2004 2003
Net revenue $38,091 $29,571
Cost of revenue 20,899 17,426
Gross margin 17,192 12,145
Operating expenses
Research and development 6,043 5,096
Selling, general, and administrative 3,766 3,074
Amortization of deferred stock compensation 102 137
Restructuring -- 432
Total operating expenses 9,911 8,739
Operating income 7,281 3,406
Interest income 268 226
Interest expense (26) (34)
Income before income taxes 7,523 3,598
Provision for income taxes 3,092 1,331
Net income $4,431 $2,267
Net income per share:
Basic $0.18 $0.09
Diluted $0.16 $0.09
Shares used in computing net income per share:
Basic 25,098,648 24,013,482
Diluted 27,693,808 26,526,878
Non-GAAP results (unaudited)
Reported net income $4,431 $2,267
Non-GAAP adjustments:
Amortization of deferred stock compensation 102 137
Restructuring, net of tax -- 272
Non-GAAP net income $4,533 $2,676
Non-GAAP earnings per share
Basic $0.18 $0.11
Diluted $0.16 $0.10
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Thursday October 21, 4:15 pm ET
SAN JOSE, Calif., Oct. 21 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the first fiscal quarter ended September 30, 2004.
ADVERTISEMENT
Net revenue for the first quarter of fiscal 2005 was $38.1 million, an increase of approximately 29% over the $29.6 million for the first quarter of fiscal 2004. GAAP net income for the first quarter of fiscal 2005 was $4.4 million, or $0.16 per diluted share. This represents an increase of approximately 95% compared with GAAP net income of $2.3 million, or $0.09 per diluted share, for the first quarter of fiscal 2004.
"We achieved sequential revenue and net income growth in the first fiscal quarter of approximately 8% and 19%, respectively," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Our performance exceeded our expectations and was driven by improved gross margins and continued momentum in the portable digital entertainment market. Revenues from our new market initiatives grew strongly to 33% of total revenues, the highest quarterly revenue to date. Design activity remains robust across our key target markets, and we are excited about our new solutions for desktop PCs and portable consumer devices as we enter the holiday period."
Russ Knittel, Synaptics` Chief Financial Officer, added, "Our visibility entering the December quarter is greatly improved, evidenced by our record backlog of more than $39 million. We are projecting significant sequential revenue growth in the range of 35% to 45% in the second fiscal quarter primarily reflecting continued strong demand for portable digital music players. We expect revenues in the March quarter to be in excess of the September quarter levels but down sequentially based on seasonal patterns, the extent of which will depend largely on end device sell-through in the December quarter."
Earnings Call Information
The Synaptics first quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, October 21, 2004, during which management may discuss forward-looking information. To participate on the live call, analysts and investors should dial 800-218-8862 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ .
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for mobile computing, communications and entertainment devices, with its products found in over 50 percent of today`s notebook computers. Synaptics` engineered solutions for device manufacturers include: TouchPad(TM) the industry standard notebook navigation device; MobileTouch(TM), a customizable scrolling, input and navigation solution for mobile handsets; TouchRing(TM), a one dimensional scrolling solution for MP3 devices; and QuickStroke®, a proprietary Chinese handwriting recognition software. More information about Synaptics can be found on the web at www.synaptics.com.
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws. Synaptics intends such forward- looking statements to be subject to the safe harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations and competitive position in both notebook computers and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) market demand for Synaptics` products, (b) market demand for OEMs` products using Synaptics` products, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, current reports on Form 8-K, and the Company`s Annual Report on Form 10-K for the fiscal year ended June 30, 2004. All forward- looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
For more information contact:
Russ Knittel Jennifer Jarman
Synaptics Incorporated The Blueshirt Group
408-434-0110x140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
September 30, June 30,
2004 2004
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $59,837 $59,489
Short term investments 37,463 36,810
Accounts receivable, net of allowances
of $164 and $130 at September 30, 2004,
and June 30, 2004, respectively 29,462 21,875
Inventories 7,684 6,525
Prepaid expenses and other current assets 3,323 3,083
Total current assets 137,769 127,782
Property and equipment, net 1,853 1,829
Goodwill 1,927 1,927
Other assets 1,040 1,115
Total assets $142,589 $132,653
Liabilities and Stockholders` equity
Current liabilities:
Accounts payable $11,325 $9,220
Accrued compensation 3,143 4,594
Accrued warranty 596 704
Income taxes payable 7,102 4,018
Other accrued liabilities 3,296 2,594
Capital leases and equipment financing
obligations -- 28
Total current liabilities 25,462 21,158
Note payable to a related party 1,500 1,500
Other liabilities 854 855
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized; no shares issued and
outstanding -- --
Common stock;
$.001 par value; 60,000,000 shares
authorized; 25,165,274 and 24,987,398
shares issued and outstanding,
respectively 25 25
Additional paid in capital 89,353 88,334
Deferred stock compensation (532) (634)
Retained earnings 26,006 21,575
Accumulated other comprehensive loss (79) (160)
Total stockholders` equity 114,773 109,140
Total liabilities and stockholders` equity $142,589 $132,653
SYNAPTICS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share and share data)
(unaudited)
Three Months Three Months
Ended Ended
Sept. 30, Sept. 30,
2004 2003
Net revenue $38,091 $29,571
Cost of revenue 20,899 17,426
Gross margin 17,192 12,145
Operating expenses
Research and development 6,043 5,096
Selling, general, and administrative 3,766 3,074
Amortization of deferred stock compensation 102 137
Restructuring -- 432
Total operating expenses 9,911 8,739
Operating income 7,281 3,406
Interest income 268 226
Interest expense (26) (34)
Income before income taxes 7,523 3,598
Provision for income taxes 3,092 1,331
Net income $4,431 $2,267
Net income per share:
Basic $0.18 $0.09
Diluted $0.16 $0.09
Shares used in computing net income per share:
Basic 25,098,648 24,013,482
Diluted 27,693,808 26,526,878
Non-GAAP results (unaudited)
Reported net income $4,431 $2,267
Non-GAAP adjustments:
Amortization of deferred stock compensation 102 137
Restructuring, net of tax -- 272
Non-GAAP net income $4,533 $2,676
Non-GAAP earnings per share
Basic $0.18 $0.11
Diluted $0.16 $0.10
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics Boosted By Surging IPod Sales
01.12.05, 3:25 PM ET
Tear Sheet | Chart | News
After upgrading shares of Synaptics (nasdaq: SYNA - news - people ) to "outperform" on Monday, Bear Stearns adjusted its price target higher to $34 from $33 to reflect better-than-expected iPod sales from the electronics developer`s customer Apple Computer (nasdaq: AAPL - news - people ), as well as "multiple growth drivers" and strong fundamentals. "We think there could be upside potential to our estimates given the strong demand for notebooks and non-iPod music players during the holiday season," it said. "Aside from iPod additional positive catalysts are strong notebook demand in the fourth quarter, strong demand for non-iPod music players and expectation of stronger than seasonal trends in music players in the first quarter by hard drive component vendors--our model reflects a normal sequential decline of 30%." Bear Stearns said Synaptics is "well positioned to benefit from a secular shift towards notebook PCs, which is accelerating, as noted by Intel (nasdaq: INTC - news - people ), and the proliferation of the digital lifestyle products, as well as augmenting its growth by leveraging its technology into new markets." The research firm added that Synaptics "represents a play on a number of growth markets" including notebooks, handheld devices, wireless mice and music players. The company is expected to report quarterly earnings on Jan. 20.
01.12.05, 3:25 PM ET
Tear Sheet | Chart | News
After upgrading shares of Synaptics (nasdaq: SYNA - news - people ) to "outperform" on Monday, Bear Stearns adjusted its price target higher to $34 from $33 to reflect better-than-expected iPod sales from the electronics developer`s customer Apple Computer (nasdaq: AAPL - news - people ), as well as "multiple growth drivers" and strong fundamentals. "We think there could be upside potential to our estimates given the strong demand for notebooks and non-iPod music players during the holiday season," it said. "Aside from iPod additional positive catalysts are strong notebook demand in the fourth quarter, strong demand for non-iPod music players and expectation of stronger than seasonal trends in music players in the first quarter by hard drive component vendors--our model reflects a normal sequential decline of 30%." Bear Stearns said Synaptics is "well positioned to benefit from a secular shift towards notebook PCs, which is accelerating, as noted by Intel (nasdaq: INTC - news - people ), and the proliferation of the digital lifestyle products, as well as augmenting its growth by leveraging its technology into new markets." The research firm added that Synaptics "represents a play on a number of growth markets" including notebooks, handheld devices, wireless mice and music players. The company is expected to report quarterly earnings on Jan. 20.
Synaptics Creates New LightTouch Button Module for NEC LaVie TW Notebook Computer
Thursday January 13, 9:00 am ET
SAN JOSE, Calif., Jan. 13 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leading developer of interface solutions for mobile computing, communications, and entertainment devices, today announced the first implementation of the LightTouch(TM) capacitive button module in a notebook computer.
ADVERTISEMENT
Located at the top of the keyboard, the custom designed LightTouch module includes six LEDs in blue, red and green and 10 buttons that control multimedia functions for the notebook, including TV channel, DVD/CD, play/pause, record, fast-forward, rewind, and volume. The LEDs provide visual indicators for button location and function status, and enhance the overall user experience.
"We were able to customize the LightTouch solution to provide the multimedia functionality NEC needed, while creating a compelling and unique industrial design," explains Don Kirby, Synaptics` general manager of PC products. "We are pleased to be working with innovative companies like NEC who are focused on device design and user experience."
"We wanted to create a stylish design to highlight the new multimedia features of our latest notebook," explained the NEC development team. "By using Synaptics LightTouch module, we were able to offer our customers simple, intuitive controls in an elegant design."
Availability:
The NEC LaVie TW notebook PC will be available in Japan starting January 27, 2005. For more information on the NEC LaVie notebook, please visit http://121ware.com/lavie/tw/ (Japanese language only).
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for the mobile computing, communications and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics` flagship product, is integrated into more than 50 percent of today`s notebook computers. Consumer electronics and computing manufacturers use Synaptics` solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality and industrial design. The company is headquartered in San Jose, California. www.synaptics.com
NOTE: Synaptics, the Synaptics logo, and LightTouch are trademarks of Synaptics in the United States and/or other countries.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to expectations of the market acceptability of the LightTouch product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward- looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` LightTouch interface solutions in the notebook market (b) market demand for NEC products using Synaptics` solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Contact: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Trisha Mirel of Edelman, +1-650-429-2743, or trisha.mirel@edelman.com, for Synaptics.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Thursday January 13, 9:00 am ET
SAN JOSE, Calif., Jan. 13 /PRNewswire-FirstCall/ -- Synaptics® Incorporated (Nasdaq: SYNA - News), a leading developer of interface solutions for mobile computing, communications, and entertainment devices, today announced the first implementation of the LightTouch(TM) capacitive button module in a notebook computer.
ADVERTISEMENT
Located at the top of the keyboard, the custom designed LightTouch module includes six LEDs in blue, red and green and 10 buttons that control multimedia functions for the notebook, including TV channel, DVD/CD, play/pause, record, fast-forward, rewind, and volume. The LEDs provide visual indicators for button location and function status, and enhance the overall user experience.
"We were able to customize the LightTouch solution to provide the multimedia functionality NEC needed, while creating a compelling and unique industrial design," explains Don Kirby, Synaptics` general manager of PC products. "We are pleased to be working with innovative companies like NEC who are focused on device design and user experience."
"We wanted to create a stylish design to highlight the new multimedia features of our latest notebook," explained the NEC development team. "By using Synaptics LightTouch module, we were able to offer our customers simple, intuitive controls in an elegant design."
Availability:
The NEC LaVie TW notebook PC will be available in Japan starting January 27, 2005. For more information on the NEC LaVie notebook, please visit http://121ware.com/lavie/tw/ (Japanese language only).
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for the mobile computing, communications and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics` flagship product, is integrated into more than 50 percent of today`s notebook computers. Consumer electronics and computing manufacturers use Synaptics` solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality and industrial design. The company is headquartered in San Jose, California. www.synaptics.com
NOTE: Synaptics, the Synaptics logo, and LightTouch are trademarks of Synaptics in the United States and/or other countries.
All other marks are the property of their respective owners.
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include, but are not limited to expectations of the market acceptability of the LightTouch product. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward- looking statements contained herein. Such factors include, but are not limited to: (a) market demand for Synaptics` LightTouch interface solutions in the notebook market (b) market demand for NEC products using Synaptics` solution, and (c) the failure of Synaptics` products and OEM products to deliver commercially acceptable performance, and other risks as identified from time to time in Synaptics` SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Contact: Amanda Mena of Synaptics Incorporated, +1-408-434-0110, ext. 178, or amena@synaptics.com; or Trisha Mirel of Edelman, +1-650-429-2743, or trisha.mirel@edelman.com, for Synaptics.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Synaptics Reports Record Second Quarter Results
Thursday January 20, 4:15 pm ET
Revenue Grows 48% and Net Income More than Doubles from the Immediately Preceding Quarter
SAN JOSE, Calif., Jan. 20 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the second fiscal quarter ended December 31, 2004.
ADVERTISEMENT
Net revenue for the second quarter of fiscal 2005 was $56.5 million, an increase of approximately 65% over the $34.3 million of net revenue for the second quarter of fiscal 2004. Net income for the second quarter of fiscal 2005 was $9.7 million, or $0.33 per diluted share. This represents an increase of approximately 178% compared with net income of $3.5 million, or $0.13 per diluted share, for the second quarter of fiscal 2004.
"We had a tremendous quarter and achieved our third consecutive quarter of record revenue and earnings," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Our results reflect robust demand for portable digital music players during the holiday season as revenue outside of the PC market grew sharply to 43% of total revenue compared with 33% in the immediately preceding quarter. Our performance in the notebook segment was also better than anticipated, as total PC revenue grew 26% sequentially, including contributions from our desktop and peripherals initiatives."
Russ Knittel, Synaptics` Chief Financial Officer, added, "We are entering the March quarter with a very strong backlog of approximately $35 million and, based on current indicators, are projecting revenue in the third fiscal quarter to be approximately flat compared to the December quarter. This projection is based on expected seasonal declines in the notebook sector, offset by continued robust demand for portable music players. We expect revenue in the June quarter to be up sequentially from March quarter levels based on our current visibility and typical consumer patterns. Fiscal 2005 is shaping up to be an outstanding year based on our record first half performance and current outlook for the second half of the year."
Earnings Call Information
The Synaptics second quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, January 20, 2005, during which management may discuss forward-looking information. To participate on the live call, analysts and investors should dial 800-240-6709 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ .
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for the mobile computing, communications, and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics` flagship product, is integrated into more than 50% of today`s notebook computers. Consumer electronics and computing manufacturers use Synaptics` solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality, and industrial design. The company is headquartered in San Jose, California. The company`s website is www.synaptics.com.
Forward-Looking Statements
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations and competitive position in the notebook computer market, portable music player market and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) demand for Synaptics` products in the PC and portable digital entertainment markets, (b) market demand for OEMs` products using Synaptics` solutions, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including the Quarterly Reports on Form 10-Q, current reports on Form 8-K, and the Annual Report on Form 10-K for the fiscal year ended June 30, 2004. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Russ Knittel Jennifer Jarman
Synaptics Incorporated The Blueshirt Group
408-434-0110x140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
December 31, June 30,
2004 2004
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $193,444 $59,489
Short term investments 36,460 36,810
Accounts receivable, net of allowances
of $174 and $130 at December 31, 2004,
and June 30, 2004, respectively 34,629 21,875
Inventories 10,934 6,525
Prepaid expenses and other current assets 3,214 3,083
Total current assets 278,681 127,782
Property and equipment, net 2,129 1,829
Goodwill 1,927 1,927
Other assets 5,499 1,115
Total assets $288,236 $132,653
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $11,352 $9,220
Accrued compensation 4,596 4,594
Accrued warranty 451 704
Income taxes payable 2,401 4,018
Other accrued liabilities 4,541 2,594
Capital leases and equipment financing
obligations -- 28
Total current liabilities 23,341 21,158
Note payable to a related party 1,500 1,500
Convertible senior subordinated notes 125,000 --
Other liabilities 866 855
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized;
no shares issued and outstanding -- --
Common stock;
$.001 par value; 60,000,000
shares authorized; 26,135,918 and
24,987,398 shares issued and
outstanding, respectively 26 25
Additional paid in capital 102,348 88,334
Deferred stock compensation (447) (634)
Retained earnings 35,730 21,575
Accumulated other comprehensive loss (128) (160)
Total stockholders` equity 137,529 109,140
Total liabilities and stockholders` equity $288,236 $132,653
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(unaudited)
Three Months Ended Six Months Ended
December 31, December 31,
2004 2003 2004 2003
Net revenue $56,543 $34,274 $94,634 $63,845
Cost of revenue 30,155 20,134 51,054 37,561
Gross margin 26,388 14,140 43,580 26,284
Operating expenses
Research and development 6,248 5,130 12,291 10,226
Selling, general, and administrative 4,388 3,293 8,154 6,367
Amortization of deferred stock
compensation 85 132 187 269
Restructuring -- -- -- 432
Total operating expenses 10,721 8,555 20,632 17,294
Operating income 15,667 5,585 22,948 8,990
Interest income 397 229 665 455
Interest expense (151) (34) (177) (68)
Income before income taxes 15,913 5,780 23,436 9,378
Provision for income taxes 6,189 2,279 9,281 3,610
Net income $9,724 $3,501 $14,155 $5,768
Net income per share:
Basic $0.38 $0.15 $0.56 $0.24
Diluted $0.33 $0.13 $0.50 $0.22
Shares used in computing net income
per share:
Basic 25,816 24,113 25,457 24,064
Diluted 29,372 26,725 28,641 26,603
Computation of basic and diluted net income per share:
(in thousands except per share data)
Three Months Ended Six Months Ended
December 31, December 31,
2004 2003 2004 2003
Numerator for basic net income per
share:
Net income $9,724 $3,501 $14,155 $5,768
Numerator for diluted net income per
share:
Net income 9,724 3,501 14,155 5,768
Interest expense and amortization
of debt issuance costs on convertible
notes (net of tax) 69 -- 69 --
Numerator for diluted net income per
share $9,793 $3,501 $14,224 $5,768
Denominator for basic net income per
share:
Weighted average common shares
outstanding 25,816 24,113 25,457 24,064
Denominator for diluted net income
per share:
Shares used above, basic 25,816 24,113 25,457 24,064
Effect of dilutive stock options 3,067 2,612 2,939 2,539
Effect of convertible notes 489 -- 245 --
Denominator for diluted net income
per share 29,372 26,725 28,641 26,603
Net income per share:
Basic $0.38 $0.15 $0.56 $0.24
Diluted $0.33 $0.13 $0.50 $0.22
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Thursday January 20, 4:15 pm ET
Revenue Grows 48% and Net Income More than Doubles from the Immediately Preceding Quarter
SAN JOSE, Calif., Jan. 20 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA - News), a leader in interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the second fiscal quarter ended December 31, 2004.
ADVERTISEMENT
Net revenue for the second quarter of fiscal 2005 was $56.5 million, an increase of approximately 65% over the $34.3 million of net revenue for the second quarter of fiscal 2004. Net income for the second quarter of fiscal 2005 was $9.7 million, or $0.33 per diluted share. This represents an increase of approximately 178% compared with net income of $3.5 million, or $0.13 per diluted share, for the second quarter of fiscal 2004.
"We had a tremendous quarter and achieved our third consecutive quarter of record revenue and earnings," stated Francis Lee, President and Chief Executive Officer of Synaptics. "Our results reflect robust demand for portable digital music players during the holiday season as revenue outside of the PC market grew sharply to 43% of total revenue compared with 33% in the immediately preceding quarter. Our performance in the notebook segment was also better than anticipated, as total PC revenue grew 26% sequentially, including contributions from our desktop and peripherals initiatives."
Russ Knittel, Synaptics` Chief Financial Officer, added, "We are entering the March quarter with a very strong backlog of approximately $35 million and, based on current indicators, are projecting revenue in the third fiscal quarter to be approximately flat compared to the December quarter. This projection is based on expected seasonal declines in the notebook sector, offset by continued robust demand for portable music players. We expect revenue in the June quarter to be up sequentially from March quarter levels based on our current visibility and typical consumer patterns. Fiscal 2005 is shaping up to be an outstanding year based on our record first half performance and current outlook for the second half of the year."
Earnings Call Information
The Synaptics second quarter teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time, on Thursday, January 20, 2005, during which management may discuss forward-looking information. To participate on the live call, analysts and investors should dial 800-240-6709 at least ten minutes prior to the call. Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company`s Web site at http://www.synaptics.com/ .
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for the mobile computing, communications, and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics` flagship product, is integrated into more than 50% of today`s notebook computers. Consumer electronics and computing manufacturers use Synaptics` solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality, and industrial design. The company is headquartered in San Jose, California. The company`s website is www.synaptics.com.
Forward-Looking Statements
This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe harbor created by those laws. Such forward-looking statements include, but are not limited to, statements regarding Synaptics` revenue expectations and competitive position in the notebook computer market, portable music player market and new market initiatives. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, (a) demand for Synaptics` products in the PC and portable digital entertainment markets, (b) market demand for OEMs` products using Synaptics` solutions, (c) the failure of Synaptics` products and OEMs` products to deliver commercially acceptable performance, and (d) other risks as identified from time to time in Synaptics` SEC reports, including the Quarterly Reports on Form 10-Q, current reports on Form 8-K, and the Annual Report on Form 10-K for the fiscal year ended June 30, 2004. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.
Russ Knittel Jennifer Jarman
Synaptics Incorporated The Blueshirt Group
408-434-0110x140 415-217-7722
russk@synaptics.com jennifer@blueshirtgroup.com
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
December 31, June 30,
2004 2004
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $193,444 $59,489
Short term investments 36,460 36,810
Accounts receivable, net of allowances
of $174 and $130 at December 31, 2004,
and June 30, 2004, respectively 34,629 21,875
Inventories 10,934 6,525
Prepaid expenses and other current assets 3,214 3,083
Total current assets 278,681 127,782
Property and equipment, net 2,129 1,829
Goodwill 1,927 1,927
Other assets 5,499 1,115
Total assets $288,236 $132,653
Liabilities and stockholders` equity
Current liabilities:
Accounts payable $11,352 $9,220
Accrued compensation 4,596 4,594
Accrued warranty 451 704
Income taxes payable 2,401 4,018
Other accrued liabilities 4,541 2,594
Capital leases and equipment financing
obligations -- 28
Total current liabilities 23,341 21,158
Note payable to a related party 1,500 1,500
Convertible senior subordinated notes 125,000 --
Other liabilities 866 855
Commitments and contingencies
Stockholders` equity:
Preferred stock;
$.001 par value; 10,000,000 shares
authorized;
no shares issued and outstanding -- --
Common stock;
$.001 par value; 60,000,000
shares authorized; 26,135,918 and
24,987,398 shares issued and
outstanding, respectively 26 25
Additional paid in capital 102,348 88,334
Deferred stock compensation (447) (634)
Retained earnings 35,730 21,575
Accumulated other comprehensive loss (128) (160)
Total stockholders` equity 137,529 109,140
Total liabilities and stockholders` equity $288,236 $132,653
SYNAPTICS INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(unaudited)
Three Months Ended Six Months Ended
December 31, December 31,
2004 2003 2004 2003
Net revenue $56,543 $34,274 $94,634 $63,845
Cost of revenue 30,155 20,134 51,054 37,561
Gross margin 26,388 14,140 43,580 26,284
Operating expenses
Research and development 6,248 5,130 12,291 10,226
Selling, general, and administrative 4,388 3,293 8,154 6,367
Amortization of deferred stock
compensation 85 132 187 269
Restructuring -- -- -- 432
Total operating expenses 10,721 8,555 20,632 17,294
Operating income 15,667 5,585 22,948 8,990
Interest income 397 229 665 455
Interest expense (151) (34) (177) (68)
Income before income taxes 15,913 5,780 23,436 9,378
Provision for income taxes 6,189 2,279 9,281 3,610
Net income $9,724 $3,501 $14,155 $5,768
Net income per share:
Basic $0.38 $0.15 $0.56 $0.24
Diluted $0.33 $0.13 $0.50 $0.22
Shares used in computing net income
per share:
Basic 25,816 24,113 25,457 24,064
Diluted 29,372 26,725 28,641 26,603
Computation of basic and diluted net income per share:
(in thousands except per share data)
Three Months Ended Six Months Ended
December 31, December 31,
2004 2003 2004 2003
Numerator for basic net income per
share:
Net income $9,724 $3,501 $14,155 $5,768
Numerator for diluted net income per
share:
Net income 9,724 3,501 14,155 5,768
Interest expense and amortization
of debt issuance costs on convertible
notes (net of tax) 69 -- 69 --
Numerator for diluted net income per
share $9,793 $3,501 $14,224 $5,768
Denominator for basic net income per
share:
Weighted average common shares
outstanding 25,816 24,113 25,457 24,064
Denominator for diluted net income
per share:
Shares used above, basic 25,816 24,113 25,457 24,064
Effect of dilutive stock options 3,067 2,612 2,939 2,539
Effect of convertible notes 489 -- 245 --
Denominator for diluted net income
per share 29,372 26,725 28,641 26,603
Net income per share:
Basic $0.38 $0.15 $0.56 $0.24
Diluted $0.33 $0.13 $0.50 $0.22
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
beobachtet irgendeiner noch diese Aktie.
Warum fällt sie?
Lohnt es sich einzusteigen?
Warum fällt sie?
Lohnt es sich einzusteigen?
Hallo Panik,
Du hast relativ viel Informationen zusammengetragen. Kannst Du zu der Aktie etwas sagen. Ich stelle fest, dass sie überhaupt nicht diskutiert wird.
In der Börse Online ist sie vor ein paar Wochen empfohlen worden.
Momentan bewegt sie sich ja stark seitwärts.
Was meinst Du dazu.
Oder auch jeder andere
Du hast relativ viel Informationen zusammengetragen. Kannst Du zu der Aktie etwas sagen. Ich stelle fest, dass sie überhaupt nicht diskutiert wird.
In der Börse Online ist sie vor ein paar Wochen empfohlen worden.
Momentan bewegt sie sich ja stark seitwärts.
Was meinst Du dazu.
Oder auch jeder andere
In Usa heute 10% Plus
wie es scheint bin ich momentan der Einzige, der sich für diese Aktie interessiert. Dann mache ich halte Monologe.
http://www.forbes.com/markets/2005/03/14/0314automarketscan1…
Bear Stearns upgraded Synaptics (nasdaq: SYNA - news - people ) to "outperform" from "peer perform" saying vital customer Apple Computer (nasdaq: AAPL - news - people ) is likely pursuing a dual-sourcing strategy rather than ending its relationship with the touchpad technology firm. The upgrade comes just one month after Bear Stearns downgraded Synaptics to "peer perform" on fears that Apple would begin developing its own technology for the ubiquitous iPod music players, despite no official comments from either company. "While we believe that Apple has developed its own interface solution for iPod using Cypress Semiconductor`s (nyse: CY - news - people ) chipset, our sense is that this may be a move to pursue a dual-sourcing strategy, consistent with Apple`s stated strategy of second sourcing any critical components when possible," said Bear Stearns. "Apple, Synaptics and Cypress have not commented on our theory, but it is consistent with common industry practice/norms." The research firm raised its price target for Synaptics shares to a range of $30 to $34, up from $25 to $28. "We are raising our rating from `peer perform` to `outperform` to reflect our sense that the loss of Apple business is already reflected in the stock, our new model reflecting dual-sourcing merit a higher valuation with the same multiple; there is a potential upside to our estimates from design wins in cellphones." Bear Stearns rates Apple shares at "outperform."
http://www.forbes.com/markets/2005/03/14/0314automarketscan1…
Bear Stearns upgraded Synaptics (nasdaq: SYNA - news - people ) to "outperform" from "peer perform" saying vital customer Apple Computer (nasdaq: AAPL - news - people ) is likely pursuing a dual-sourcing strategy rather than ending its relationship with the touchpad technology firm. The upgrade comes just one month after Bear Stearns downgraded Synaptics to "peer perform" on fears that Apple would begin developing its own technology for the ubiquitous iPod music players, despite no official comments from either company. "While we believe that Apple has developed its own interface solution for iPod using Cypress Semiconductor`s (nyse: CY - news - people ) chipset, our sense is that this may be a move to pursue a dual-sourcing strategy, consistent with Apple`s stated strategy of second sourcing any critical components when possible," said Bear Stearns. "Apple, Synaptics and Cypress have not commented on our theory, but it is consistent with common industry practice/norms." The research firm raised its price target for Synaptics shares to a range of $30 to $34, up from $25 to $28. "We are raising our rating from `peer perform` to `outperform` to reflect our sense that the loss of Apple business is already reflected in the stock, our new model reflecting dual-sourcing merit a higher valuation with the same multiple; there is a potential upside to our estimates from design wins in cellphones." Bear Stearns rates Apple shares at "outperform."
Synaptics Announces Cross License Agreement With Alps Electric
Friday April 1, 7:30 am ET
SAN JOSE, Calif., April 1 /PRNewswire-FirstCall/ -- Synaptics Incorporated (Nasdaq: SYNA - News) today announced that it has entered into a cross license agreement with Japan-based Alps Electric Co., Ltd and Alps` U.S.-based affiliate, Cirque Corporation. The cross licenses in the agreement are worldwide, non-exclusive, non-transferable, and royalty-free. The cross license agreement settles certain intellectual property claims of the parties and contains mutual releases of the intellectual property claims of the parties.
ADVERTISEMENT
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for the mobile computing, communications and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics` flagship product, is integrated into more than 50 percent of today`s notebook computers. Consumer electronics and computing manufacturers use Synaptics` solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality and industrial design. The company is headquartered in San Jose, California. www.synaptics.com
Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries.
All other marks are the property of their respective owners.
CONTACT: Jennifer Jarman of The Blueshirt Group, +1-415-217-7722, or jennifer@blueshirtgroup.com.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
Friday April 1, 7:30 am ET
SAN JOSE, Calif., April 1 /PRNewswire-FirstCall/ -- Synaptics Incorporated (Nasdaq: SYNA - News) today announced that it has entered into a cross license agreement with Japan-based Alps Electric Co., Ltd and Alps` U.S.-based affiliate, Cirque Corporation. The cross licenses in the agreement are worldwide, non-exclusive, non-transferable, and royalty-free. The cross license agreement settles certain intellectual property claims of the parties and contains mutual releases of the intellectual property claims of the parties.
ADVERTISEMENT
About Synaptics Incorporated
Synaptics is a leading developer of interface solutions for the mobile computing, communications and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics` flagship product, is integrated into more than 50 percent of today`s notebook computers. Consumer electronics and computing manufacturers use Synaptics` solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality and industrial design. The company is headquartered in San Jose, California. www.synaptics.com
Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries.
All other marks are the property of their respective owners.
CONTACT: Jennifer Jarman of The Blueshirt Group, +1-415-217-7722, or jennifer@blueshirtgroup.com.
--------------------------------------------------------------------------------
Source: Synaptics Incorporated
guten,
habe mich auch sehr über den kursverlauf gewundert, der kurs ist so eingebrochen, da gerüchte im umlauf, dass syna von apple gekippt wurde (dh ihre touchpads nicht mehr eingesetzt werden in i-pods [die ja momentan laufen wie der Hula-Hupp Reifen früher, wie jeder weiss], notebooks etc)
Die city hat dies ernst genommen..evtl waren natürlich auch interessierte parties am grüchte-pfanne bruzzzzzln lassen (denke ich)..
einen interessanten artikel darüber ist hier zu finden:
http://www.fool.com/News/mft/2005/mft05021829.htm
&
http://www.themacobserver.com/article/2005/02/25.5.shtml
-----
Für mich gilt es mit ein paar calls an der sache zu partizipieren, strike 30-40 - je nachdem wie heiss mans haben möchte
zb
http://finance.yahoo.com/q/op?s=SYNA&k=35.00
WAS meinst ihr?
Schönes WE..
habe mich auch sehr über den kursverlauf gewundert, der kurs ist so eingebrochen, da gerüchte im umlauf, dass syna von apple gekippt wurde (dh ihre touchpads nicht mehr eingesetzt werden in i-pods [die ja momentan laufen wie der Hula-Hupp Reifen früher, wie jeder weiss], notebooks etc)
Die city hat dies ernst genommen..evtl waren natürlich auch interessierte parties am grüchte-pfanne bruzzzzzln lassen (denke ich)..
einen interessanten artikel darüber ist hier zu finden:
http://www.fool.com/News/mft/2005/mft05021829.htm
&
http://www.themacobserver.com/article/2005/02/25.5.shtml
-----
Für mich gilt es mit ein paar calls an der sache zu partizipieren, strike 30-40 - je nachdem wie heiss mans haben möchte
zb
http://finance.yahoo.com/q/op?s=SYNA&k=35.00
WAS meinst ihr?
Schönes WE..
schön, dass die Aktie wieder diskutiert wird.
Umsatz ist ja in D leider sehr gering.
Bullme, welches Calls hast Du im Auge.
Umsatz ist ja in D leider sehr gering.
Bullme, welches Calls hast Du im Auge.
wenn dann in usa handlen, oder?
---
Ich habe mir heute das call QYGFF.X (strike 30, exp. june)
ins depot gelegt.
http://finance.yahoo.com/q?s=QYGFF.X
siehe tread:
Thread: SYNA . ein CALL-WERT?
---
Ich habe mir heute das call QYGFF.X (strike 30, exp. june)
ins depot gelegt.
http://finance.yahoo.com/q?s=QYGFF.X
siehe tread:
Thread: SYNA . ein CALL-WERT?
Heute in Amiland -6%
Das sieht nicht gut aus.
grobschnitt
Das sieht nicht gut aus.
grobschnitt
Hi,
am Freitag -14%.
Hat jemand eine Ahnung warum?
am Freitag -14%.
Hat jemand eine Ahnung warum?
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