Synaptics Incorporated · NASDAQ:SYNA
Synaptics — Q1 FY2018 Earnings Presentation
13 slides from Synaptics's earnings presentation, Nov 7, 2017
Slide 1: First Quarter Fiscal 2018 Earnings
First Quarter Fiscal 2018 Earnings November 7, 2017 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 Act of 1934, as amended (the “Exchange Act”). Forward-looking statements give our current expectations and projec
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 Consumer IoT business off to a strong start; to approach 25% of total revenue in Q2 FY18 Solutions for Infinity Displays on track with in-display fingerprint and OLED DDIC; first optical fingerprint product to start mass production by end of CY17 Restructuring to capitalize
Slide 5: Q1 FY18 Financial Results
Q1 FY18 Financial Results Year over Year Q1’18 Q1’17 Delta $ Delta % Revenue $417.4 $386.2 $31.2 8% GAAP Net Income ($26.5) $3.7 ($30.2) -816% GAAP EPS Diluted ($0.79) $0.10 ($0.89) -890% Non-GAAP Net Income $35.1 $34.2 $0.9 3% Non-GAAP EPS Diluted $1.03 $0.96 $0.07 7% Quarter over Quarter Q1’18 Q4’
Slide 6: Q1 FY17 and FY18 Results vs Q1 FY18 Guidance
Q1 FY17 and FY18 Results vs Q1 FY18 Guidance Q1’18 is a 14 week period, all other quarters presented are 13 week periods Q1’18 Guidance did not include impact of Marvell multimedia business acquisition, while Q1’18 Actual Results include $15.7M of revenue from the Marvell multimedia business acquisi
Slide 7: First Quarter Fiscal 2018 Cash & Debt
First 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. Q1’17 Q2’17 Q3’17 Q4’17 Q1’18 $301 $347 $329 $224 $3
Slide 8: First Quarter Fiscal 2018 Balance Sheet
First 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 Invento
Slide 9: Second Quarter Fiscal 2018 Guidance
Second Quarter Fiscal 2018 guidance See the tables at the end of this presentation for a reconciliation of GAAP results to non-GAAP financial measures Q2’18 Guidance includes revenue from recently closed Conexant and Marvell multimedia business acquisitions Q2’17 IoT Product Line includes $20.9M of
Slide 10: Revenue Trend
Revenue Trend Q1’18 is a 14 week period, all other quarters presented are 13 week periods Mid Point (Guidance) Q1’17 Q2’17 Q3’17 Q4’17 Q1’18 Q2’18 $386.2 $461.3 $444.2 $426.4 $417.4 $430.0 $ Millions Mobile PC IoT
Slide 11: Non-GAAP Net Income & EPS Fiscal Quarter Trend
Non-GAAP Net Income & EPS Fiscal Quarter Trend $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $0.0 Mid Point (Guidance) $34.3 $53.5 $44.9 $41.4 $35.1 $37.6 Q1’17 Q2’17 Q3’17 Q4’17 Q1’18 Q2’18 $0.96 $1.49 $1.27 $1.18 $1.03 $1.08 $1.60 $1.40 $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $0.00 $ Millions Non-GAAP Net Incom
Slide 12: GAAP to Non-GAAP Reconciliation Tables
GAAP to Non-GAAP Reconciliation Tables GAAP operating expenses Acquisition and integration related costs Share-based compensation Restructuring costs Non-GAAP operating expenses $ 131.3 (8.0) (15.8) (1.4) $ 106.1 $ 109.9 (2.4) (15.0) (1.7) $ 90.8 $ 117.8 (4.5) (14.1) (5.3) $ 93.9 GAAP gross margin –
Slide 13: GAAP to Non-GAAP Reconciliation Tables - continued
GAAP net income/(loss) per share - diluted Acquisition and integration related costs Share-based compensation Restructuring costs Other non-cash items, net Equity investment loss Non-GAAP tax adjustments Non-GAAP share adjustment Non-GAAP net income per share - diluted $ (0.79) 1.19 0.49 0.04 0.17 0