Synaptics reports growth in biometrics divisionHuman interface firm Synaptics has reported that a decrease in revenues for the fourth quarter offset more positive figures from its biometrics division.On Thursday, the firm noted that net revenue for fiscal 2016 totaled $1.67 billion, a decrease of 2 percent from fiscal 2015. GAAP net income for fiscal 2016 declined 35 percent from the prior year to $72.2 million, or $1.91 per diluted share.Meanwhile, Net revenue for the fourth quarter of fiscal 2016 declined 32 percent from the comparable quarter last year to $323.9 million. GAAP net loss for the fourth quarter of fiscal 2016 decreased 123 percent from the prior year period net income to a net loss of $7.1 million, or a loss of $0.19 per diluted share.”Fourth quarter results were generally as anticipated, culminating in fiscal 2016 revenue that was similar to last year, as growth from our TDDI and fingerprint authentication offerings was offset by a challenging market for high-end smartphones and weakness in the PC market,” stated Rick Bergman, President and CEO.In an earnings call, Bergman said: Revenue for fiscal 2016 was approximately $1.7 billion, a slight decrease from last year, reflecting a slowdown in the high end of the smartphone market that dramatically impacted our discrete display driver business and offset growth from our biometrics and display integration solutions. Non-GAAP net income for the year was $180.5 million or $4.76 per diluted share.”We bolstered our commitment to generating shareholder value during the year by purchasing a substantial amount of stock on the order of $241 million or 3.6 million shares, which reflects our underlying confidence in Synaptics' prospects for long-term success”.
Synaptics reports growth in biometrics division
