Synaptics Beats On Earnings: Moves Higher On Smart Phone Fingerprint ID Products

Synaptics Incorporated SYNA is up by 5.91 percent in afterhours trading; this was driven by a solid quarterly earnings report, paired with growth in key areas of the company. According to Benzinga Pro: “Synaptics Incorporated reports Q2 EPS of $1.46 versus the estimated $1.41, beating by $0.05. EPS were Up 5% from the same quarter last year. Revenue came in at $314.90M versus the estimated $303.64M. Sales were Up 37% year over year.” Synaptics states in its new release, “Revenue from mobile products of $242.9 million was up 40% year-over-year. Mobile products revenue includes all touchscreen, video display, and applicable fingerprint ID products.” Analysts on a consensus basis expected Q2 revenue to come in at $303.64 million; Synaptics reported revenue of $314.89 million, beating consensus estimates by $11.25 million. The revenue growth came from the astounding growth in the mobile division, and in thumbprint sensor technologies. Synaptics inked a deal with Samsung SSNLF earlier this year, and as a result the Samsung Galaxy S5 came with Synaptic's fingerprint technology. Furthermore, there's some speculation that Synaptics may eventually get its thumbprint sensor technologies into the Apple AAPL iPhone.