Synaptics Incorporated · NASDAQ:SYNA
Synaptics — Q2 FY2018 Earnings Presentation
14 slides from Synaptics's earnings presentation, Feb 7, 2018
Slide 1: Second Quarter Fiscal 2018 Earnings
Second Quarter Fiscal 2018 Earnings February 7, 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 Retail availability now of Vivo phone with world’s first Clear ID™ optical in-display fingerprint Over 30 new far-field voice customer product launches expected in calendar Q1 of 2018 Expect mass production of OLED display drivers in calendar Q2 of 2018 Chip-on-film that ena
Slide 5: Clear ID Quotes
Clear ID™ Quotes “What's really impressive is how conceptually elegant this setup is. The whole thing is made possible by a Synaptic CMOS sensor.” “The uncanny thing for me with this phone is how obvious and immediately intuitive the in-display fingerprint system is… The technological aspect is just
Slide 6: Q2 FY'18 Financial Results
Q2 FY’18 Financial Results Q1’18 is a 14 week period, all other quarters presented are 13 week periods See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures
Slide 7: Non-GAAP Q2 FY'17 and Q2 FY'18 Results vs Q2 FY'18 Guidance
Non-GAAP Q2 FY’17 and Q2 FY’18 Results vs Q2 FY’18 Guidance Q2’18 IoT Product Line revenue percentage includes $25.3M previously classified as Mobile (Interface and Automotive) Q2’17 IoT Product Line revenue percentage includes $20.9M previously classified as Mobile (Interface and Automotive) See th
Slide 8: Second Quarter Fiscal 2018 Cash & Debt
Second Quarter Fiscal 2018 Cash & Debt 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 our balance sheet. $ Millions
Slide 9: Second Quarter Fiscal 2018 Balance Sheet
Second Quarter Fiscal 2018 Balance Sheet Balances presented above are as of the end of each quarter presented Q1’18 Cash balance reflects the impact of $397M used for acquisitions, $94 million used for share repurchases, net debt cash inflows of $293M, and $40M cash flow from operations Q1’18 and Q2
Slide 10: Non-GAAP Third Quarter Fiscal 2018 Guidance
Non-GAAP Third Quarter Fiscal 2018 Guidance See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures Q3’17 and Q2’18 IoT Product Line revenue percentage includes $21.8M and $25.3M, respectively, previously classified as Mobile (Interface and
Slide 11: Revenue Trend
Revenue Trend Q1’18 is a 14 week period, all other quarters presented are 13 week periods (Guidance) $ Millions Mobile PC IoT $386.2 $461.3 $444.2 $426.4 $417.4 $430.4 $400.0 Mid Point
Slide 12: Non-GAAP Net Income & EPS Fiscal Quarter Trend
Non-GAAP Net Income & EPS Fiscal Quarter Trend Non-GAAP Net Income Non-GAAP EPS Q1’18 is a 14 week period, all other quarters presented are 13 week periods Mid Point (Guidance) $ Millions
Slide 13: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables Q2'18 Actual Q1'18 Actual Q3'17 Actual Q2'17 Actual GAAP gross margin $ 115.2 $ 114.4 $ 134.7 $ 138.7 Acquisition related costs 38.4 31.7 11.7 12.0 Share-based compensation 0.7 0.7 0.6 0.6 Non-GAAP gross margin 154.3 $ 146.8 $ 147.0 $ 151.3 $ GAAP gross margin
Slide 14: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP to Non-GAAP Reconciliation Tables - continued Q2'18 Actual Q1'18 Actual Q3'17 Actual Q2'17 Actual GAAP net income/(loss) $ (82.4) $ (26.5) $ 4.5 $ 22.8 Acquisition and integration related costs 43.8 39.7 14.1 14.4 Share-based compensation 17.8 16.5 16.1 15.6 Litigation settlement charge - - 10.