Synaptics Inc Q1 2020 Earnings Call Summary

Edited Brief of SYNA.OQ earnings conference call or presentation 7-Nov-19 10:00pm GMT

...A. Management Update: Michael Hurlston joined in Aug. 1. 2. Dean Butler, new CFO. B. Highlights: Had numerous highly-successful product launches with many of Co.'s Tier 1 OEM customers. 1. 2. Revenue, gross profit and operating profitability all exceeded forecasts from just three months ago. a. Revenue $340m. Exceeded high end of range. i. b. GM was better as early actions Co. has begun in focusing on higher-margin products have begun to show results. First time in over five years that Co. has achieved non-GAAP operating GMs of over 40%. i. c. Better OpEx controls with more disciplined spend and more selective product investments resulted in lower-than-expected OpEx. d. Non-GAAP net income $41m. Increased more than 200% sequentially. i. e. Non-GAAP EPS $1.22. f. Great start to FY. C. Corporate Transformation: Sees opportunity for Co. to better align operations by breaking down internal silos and improve efficiencies. 1. By removing redundancy and streamlining operations, Co. has should...

Brief