SANTA CLARA, Calif., Oct. 23 /PRNewswire-FirstCall/ -- Synaptics (Nasdaq: SYNA), a leading developer of human interface solutions for mobile computing, communications, and entertainment devices, today reported financial results for the first quarter ended September 30, 2008. The Company's GAAP results reflect the expensing of non-cash share-based compensation for all periods presented.
Net revenue for the first quarter of fiscal 2009 was $115.9 million, an increase of approximately 34% over $86.7 million in net revenue for the first quarter of fiscal 2008. Net income for the first quarter of fiscal 2009 was $14.0 million, or $0.39 per diluted share, compared with net income of $11.3 million, or $0.27 per diluted share, for the first quarter of fiscal 2008. Net income, excluding non-cash charges for share-based compensation, was $17.9 million, or $0.50 per diluted share, for the first quarter of fiscal 2009, compared with net income, excluding share-based compensation and non-recurring items, of $14.8 million, or $0.36 per diluted share, for the first quarter of fiscal 2008.
"We posted record revenue and net income per diluted share for the first quarter, with revenue exceeding $100 million for the first time in our history," stated Francis Lee, Chairman and Chief Executive Officer of Synaptics. "Our growth strategies are clearly working as we achieve greater diversification across our target markets. While our business is not immune to market fluctuations and we are closely monitoring the current economic climate, we are well on track to achieving our third consecutive year of record revenue."
Russ Knittel, Synaptics' Chief Financial Officer, added, "Our backlog
increased more than two-fold to a record $103 million en
|SOURCE Synaptics Incorporated|
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