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EX - 99.1 2 d255613dex991.htm EX - 99.1 Synaptics Synaptics Reports Third Quarter Fiscal 2021 Results Q3'21 Financial Results and Recent Business Highlights • Revenue of $ 325.8 million • GAAP gross margin of 47.7 percent • Record non - GAAP gross margin of 55.1 percent • GAAP diluted earnings per share of $ 0.35 Non - GAAP diluted earnings per share of $ 2.03 • Record Cash Flow from Operations of $ 136.4 million Exhibit 99.1 SAN JOSE , Calif . , – May 6 , 2021 - Synaptics Incorporated ( Nasdaq : SYNA ) , today reported financial results for its third fiscal quarter ended March 27 , 2021 . Net revenue for the third quarter of fiscal 2021 was $ 325.8 million . GAAP net income for the third quarter of fiscal 2021 was $ 13.8 million , or $ 0.35 per diluted share . Non - GAAP net income for the third quarter of fiscal 2021 was $ 79.3 million , or $ 2.03 per diluted share . " Synaptics started 2021 with a strong March quarter , driven by record gross margins , record PC revenue and net income and EPS near the upper end of our guidance range , ” said Michael Hurlston , Synaptics ' president and CEO . “ Our strategy to shift the company toward our IoT products where we see higher gross and operating margins is fundamentally improving the financial foundation of the company . That foundation enables us to be more aggressive in the market , growing share in our existing base while also engaging new markets and customers , better positioning us to drive revenue and earnings growth over the long haul . " Business Outlook Dean Butler , Chief Financial Officer of Synaptics , added , “ For our fourth fiscal quarter , we expect revenue to outperform typical seasonality and our gross margin to strengthen as IoT continues to its growth trajectory . Our backlog remains strong with our customer demand continuing to outpace supply availability ; we have factored in the current semiconductor supply chain constraints into our June quarter guidance . "