Shares of touch-sensor and display chip maker Synaptics (SYNA) are down $7.74, over 15%, at $42.80, in late trading, after the company this afternoon reported fiscal Q4 revenue in line with analysts’ expectations, and profit that beat by a penny, but forecast this quarter’s revenue well below consensus, citing a shortfall in chips for mobile products.
Revenue in the three months ended in June rose to $426.5 million, yielding EPS of $1.18.
Analysts had been modeling $426.5 million and $1.17.
For the current quarter, Synaptics sees revenue in a range of $380 million to $445 million.
CFO Wajid Ali, addressing the outlook, said that with a backlog of $222 million entering the quarter, and given customer forecasts, the outlook for this quarter’s revenue “reflects a sequential decline in our mobile business offset by post-acquisition revenue from Conexant.”
Ali predicted this fiscal year’s revenue will be “back-end loaded,” as they say. "For fiscal 2018, we expect to generate low single-digit top-line growth weighted towards the second half of the year, coinciding with the ramp of new products and the growth of our IoT business.”