(Reuters) - Touchscreen chipmaker Synaptics Inc forecast current-quarter revenue above analysts' estimates and reported better-than-expected third quarter results as it sold more chips to smartphone and other mobile devices makers.
The company, whose shares rose 19 percent in after-hours trading, said it expected current-quarter revenue of $190.0 million to $205.0 million, above the average analyst forecast of $158.4 million, according to Thomson Reuters I/B/E/S.
Revenue from mobile customers rose 57 percent to $104.7 million in the quarter, while revenue from PC products declined 9.9 percent.
Synaptics makes touchscreen chips that are used in smartphones such as Google Inc's Nexus 4, Samsung Electronics Co Ltd's Galaxy Music, HTC Corp's Windows 8X and 8S and Lenovo Group Ltd's last week forecast weak current-quarter margins as rising competition hurt prices of touchscreen microcontrollers.
Synaptics's gross margin rose 240 basis points in the third quarter to 49.6 percent.
Net income rose to $36.4 million, or $1.07 per share, from $11.4 million, or 33 cents per share, a year earlier. On an adjusted basis, the company earned 79 cents per share.
Revenue rose 24 percent to $163.3 million.
Analysts on average had expected earnings of 57 cents per share on revenue of $145.6 million.
(Reporting by Neha Alawadhi in Bangalore; Editing by Maju Samuel)
Source: http://news.yahoo.com/synaptics-profit-rises-three-fold-204530138--sector.html
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