Synaptics (NASDAQ: SYNA) reported Q3 EPS of $0.83, $0.09 better than the analyst estimate of $0.74. Revenue for the quarter came in at $334 million versus the consensus estimate of $345.25 million.

“While Synaptics continues to be impacted by the residual effects of unfavorable supply chain dynamics in the near term, we are confident in the strengths and untapped potential of our product portfolio and are evaluating how best to leverage these assets with a focus on aligning the business towards achieving better long-term profitability,” stated Saleel Awsare, Senior Vice President and General Manager, IoT Division, Corporate Marketing & Investor Relations. “Going forward, we have the elements in place to execute towards an overall richer margin mix and the ability to drive even greater momentum across the portfolio, including our IoT platform where we expect a return to growth in the June quarter.”

GUIDANCE:

Synaptics sees Q4 2019 revenue of $300-320 million, versus the consensus of $362.86 million.

Business Outlook

Kermit Nolan, Chief Accounting Officer and Interim CFO of Synaptics, added, “Considering our backlog of $210 million entering the June quarter, subsequent bookings, customer forecasts and product sell-in and sell-through timing patterns, and the resulting expected product mix, we anticipate revenue for the fourth quarter of fiscal 2019 to be in the range of $300 to $320 million. Based on this guidance, we expect the revenue mix from mobile, IoT and PC products to be approximately 55 percent, 25 percent and 20 percent, respectively.”

For earnings history and earnings-related data on Synaptics (SYNA) click here.