Synaptics Incorporated · NASDAQ:SYNA
Synaptics — Q1 2019 Earnings Presentation
13 slides from Synaptics's earnings presentation, Nov 8, 2018
Slide 1: First Quarter Fiscal 2019 Earnings
First Quarter Fiscal 2019 Earnings November 8, 2018 Exhibit 99.2
Slide 2: Safe Harbor Statement
This presentation contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements give our current expectations a
Slide 3: Non-GAAP Results
Non-GAAP Results •In evaluating our business, we consider and use non-GAAP net income, which we define as net income excluding share-based compensation, acquisition related costs, and certain other non-cash or recurring and non-recurring items we do not believe are indicative of our core operating p
Slide 4: Synaptics Key Commentary
Synaptics Key Commentary Diversification leading to expected gross margin expansion and earnings growth in FY19 Combination of strong revenue and non-GAAP GM% drove Q1 non-GAAP EPS up 20% YoY At mid-point, seasonal sequential growth in Q2 driving projected non-GAAP EPS up 26% YoY Resumed stock repur
Slide 5: Q1 FY'19 Financial Results
Q1 FY’19 Financial Results See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures Year over Year Q1’19 Actual Q1’18 Actual Delta $ Delta % Non-GAAP EPS Diluted
Slide 6: Non-GAAP Q1 FY'18 and Q1 FY'19 Results vs Q1 FY'19 Guidance
Non-GAAP Q1 FY’18 and Q1 FY’19 Results vs Q1 FY’19 Guidance See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures
Slide 7: First Quarter Fiscal 2019 Cash & Debt
First Quarter Fiscal 2019 Cash & Debt Repurchased 862,454 shares during Q1’19 for approximately $39 million. Debt amounts presented above are as of the end of each quarter presented and represent the balances due to third parties and exclude discount & debt issuance cost adjustments as presented on
Slide 8: First Quarter Fiscal 2019 Balance Sheet
First Quarter Fiscal 2019 Balance Sheet Balances are as of the end of each quarter presented Q1’18 Inventory balance includes $23.4M of purchase accounting inventory fair value adjustment Debt, net balance reflects debt net of discount and debt issuance costs Repurchased 862,454 shares during Q1’19
Slide 9: Non-GAAP Second Quarter Fiscal 2019 Guidance
Non-GAAP Second Quarter Fiscal 2019 Guidance See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures
Slide 10: Revenue Trend
Revenue Trend $ Millions Q1’18 is a 14 week period, all other quarters presented are 13 week periods Mid-Point Guidance
Slide 11: Non-GAAP Net Income & EPS Fiscal Quarter Trend
Non-GAAP Net Income & EPS Fiscal Quarter Trend Non-GAAP Net Income Non-GAAP EPS
Slide 12: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables Q1'19 Actual Q4'18 Actual Q3'18 Actual Q2'18 Actual Q1'18 Actual GAAP gross margin $ 140.9 $ 127.6 $ 122.9 $ 115.2 $ 114.4 Acquisition related costs 17.0 18.3 21.3 38.4 31.7 Share-based compensation 0.9 0.9 0.9 0.7 0.7 Non-GAAP gross margin $ 158.8 $ 146.8 $ 14
Slide 13: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued Q1'19 Actual Q4'18 Actual Q3'18 Actual Q2'18 Actual Q1'18 Actual GAAP net income/(loss) 3.8 $ (1.5) $ (13.7) $ (82.4) $ (26.5) $ Acquisition and integration related costs 21.8 25.6 26.9 43.8 39.7 Share-based compensation 16.7 18.2 18.8 17.8 16.5 Arb