January 20, 2011 / 10:41 PM / 7 years ago

UPDATE 1-Syanptics Q2 tops Street on strong touchscreen sales

* Q2 adj EPS $0.72 vs est $0.68

* Q2 rev $159.6 mln vs est $158.3 mln

* Sees Q3 rev $136-$146 mln vs est $135.7 mln

Jan 21 (Reuters) - Touchpad maker Synaptics Inc (SYNA.O) topped second-quarter estimates on higher mobile-touchscreen sales, and forecast third-quarter revenue above expectations.

The Santa Clara, California-based company earned $17.7 million, or 50 cents a share, compared to $12.2 million, or 35 cents a share, last year.

Excluding items, it earned $72 cents a share for the second quarter, while analysts were expecting 68 cents, according to Thomson Reuters I/B/E/S.

    The company said the 20 percent rise in net revenue to $159.6 million was due to higher mobile touchscreen sales that helped offset a weaker demand from the personal computer market. Analysts had expected $158.3 million in second-quarter revenue.

    For the January-March quarter, Synaptics forecast revenue of $136-$146 million, well above analysts’ expectations of $135.7 million.

    Shares of the company closed at $32.05 on Nasdaq on Thursday. (Reporting by Himank Sharma in Bangalore; Editing by Sriraj Kalluvila)

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