Page 1

EX - 99.1 2 d67241dex991.htm EX - 99.1 Synaptics B Synaptics Reports Second Quarter Fiscal 2021 Results Q2'21 Financial Results and Recent Business Highlights • Revenue of $ 357.6 million • GAAP Gross Margin of 42.1 percent • Record non - GAAP Gross Margin of 52.1 percent • GAAP diluted earnings per share of $ 1.36 • Record non - GAAP diluted earnings per share of $ 2.30 • Record revenue for IoT and PC businesses for the December quarter Exhibit 99.1 SAN JOSE , Calif . , – February 4 , 2021 - Synaptics Incorporated ( NASDAQ : SYNA ) , today reported financial results for its second fiscal quarter ended December 26 , 2020 . Net revenue for the second quarter of fiscal 2021 was $ 357.6 million . GAAP net income for the second quarter of fiscal 2021 was $ 49.6 million , or $ 1.36 per diluted share . Non - GAAP net income for the second quarter of fiscal 2021 was $ 83.8 million , or $ 2.30 per diluted share . " Synaptics delivered an outstanding December quarter with revenues exceeding the mid - point of our guidance , and the highest non - GAAP gross margins , net income and EPS in the company's 35 - year history , " said Michael Hurlston , Synaptics ' president and CEO . “ Overall , our diversification strategy with a tilt toward IoT and PC is paying dividends with both businesses delivering record revenue in the quarter . IoT now represents our largest business , giving us a stable foundation from which we can more aggressively drive top line growth . " Business Outlook Dean Butler , Chief Financial Officer of Synaptics , added , “ For our third fiscal quarter , we see continued strength in our PC business , and expect our IoT business to outperform typical seasonality aided by a robust pipeline of design wins . We anticipate gross margins to remain strong and our revenue mix to continue shifting toward IoT . While supply - chain constraints likely limit further upsides in the near - term , we believe we are well positioned to deliver further improvements in gross margins and profitability over the long term . ”