Very Few Things In This Life Are Totally Reliable, This Is:
Posted by Timothy Sykes on Sat 1st of Aug, 2009 09:30:48 AM
Tags:
Synaptics Inc. (SYNA) screwing up when their stock gets to the top of its range:
Now check out what the chart looks like just one day later HERE
See the PR of their screw up HERE , but this is basically what it says:
* Q4 adj EPS of 47 cents beats estimates by 3 cents
* Q4 revenue up 19 pct
* Sees Q1 sales of $113 mln - $119 mln
* Shares fall 19 pct after the bell
July 30 (Reuters) - Touchscreen technology maker Synaptics Inc (SYNA.O) posted a better-than-expected quarterly profit, but the company forecast first-quarter revenue below Wall Street expectations, sending shares down 17 percent.
The company also named Chief Operating Officer Thomas Tiernan as its new chief executive officer, replacing Francis Lee, who is retiring.
For the first quarter, Synaptics expects revenue of $113 million to $119 million, trailing analysts’ consensus view of $127.4 million.
“We expect solid growth from mobile phone applications, while PC based revenue will decline, primarily reflecting the expected decrease in revenue from multi-media control applications, as well as a generally lower priced touchpad product mix,” the company said in a statement.
Fourth-quarter net income increased to $13.1 million, or 36 cents per share, from $2.6 million, or 7 cents per share, a year earlier.
Excluding items, the company earned 47 cents a share. Revenue rose 19 percent to $115.3 million.
Analysts expected earnings of 44 cents a share, excluding exceptional items, on revenue of $112.1 million, according to Reuters Estimates.
Exiting the June quarter, the company had a backlog of $62.8 million.
Shares of the company were trading down $6.85 at $29 after the bell. They closed at $35.85 Thursday on Nasdaq. (Reporting by Shrutika Verma in Bangalore; Editing by Deepak Kannan)
And judging by the chart, I’d only buy at the very bottom of the range (and odds are if it does drop that much, it won’t come back since patterns evolve and Synaptics sucks)
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