Synaptics, Incorporated(NASDAQ:SYNA)’s net income for the first quarter has fallen more than 50 percent because of declining sales of desktop computer screens.
The company earned $6.1 million in the quarter which works out to 18 cents a share. It had made profits of $13 million or 39 cents a share in the same period last year. Revenue dropped 4.8 percent to $127 million.
Revenues were at the higher end of the guidance given, mainly because sales of mobile phone touch screens made up for lower revenue from desktop touchscreens.
The adjusted profits for the quarter were $1.7 million or 37 cents a share. Last year, the company’s adjusted earnings were much higher, $19.1 million or 57 cents a share. This was better than analysts’ estimates of 34 cents a share on $123.9 million revenue.
The company has forecast revenue of $134 million to $142 million for the next quarter; the Street expects $136.1 million.
The touchscreen maker’s shares rose $2.22 or 9.74 percent to $24.93 in the opening session.
The profit of Deckers Outdoor Corp(NASDAQ:DECK) dropped 31 percent in the latest quarter. The company has also lowered its outlook for the next quarter as well as for the full year.
The sheepskin boot maker’s net income was $43.1 million or $1.18 a share, much lower than last year’s profit of $62.3 million or $1.59 a share in the same period. Analysts had expected an EPS of $1.05 a share.
Revenue fell 9 percent from $414.4 million to $376.4 million, missing analysts’ forecast of $412.1 million.
For the fourth quarter, the company had earlier expected a 22 percent rise in earnings, but now sees a 14 percent fall. For the full year, the company had forecast a fall of 9 percent to 10 percent. It has now revised its outlook to a 33 percent decline.
The stock fell 15 percent to $30.21 in the opening session.