{"id":782561,"date":"2023-09-07T14:31:08","date_gmt":"2023-09-07T18:31:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\/"},"modified":"2023-09-07T14:31:08","modified_gmt":"2023-09-07T18:31:08","slug":"synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\/","title":{"rendered":"Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">SAN JOSE, Calif., Sept.  07, 2023  (GLOBE NEWSWIRE) &#8212; Synaptics Incorporated (Nasdaq: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=If7cqJ8uK604FiSk8o0cWOHiigFTLqRoNw3II9RgQOiZP-O7EaAcrBcnUHFGG_Qm-mh4VgbYCJwL_rHoxseejw==\" rel=\"nofollow noopener\" target=\"_blank\"><u>SYNA<\/u><\/a>) today reiterated its previous guidance for the first quarter of fiscal 2024 that was issued on August 3, 2023.<\/p>\n<p>As previously announced, the company will host a Financial Analyst &amp; Investor Day today at The Yale Club in New York City from 2:00pm to 5:00pm ET.<\/p>\n<p>At the event, the company will discuss its long-term strategy, product portfolio and growth opportunities in the IoT markets. Presentations will be made by the following members of the executive team followed by a live Q&amp;A session:<\/p>\n<ul type=\"disc\">\n<li>Michael Hurlston \u2013 President and Chief Executive Officer<\/li>\n<li>Dean Butler \u2013 Chief Financial Officer<\/li>\n<li>Venkat Kodavati \u2013 General Manager, Wireless Products<\/li>\n<li>Vikram Gupta \u2013 General Manager, IoT Processors<\/li>\n<li>Saleel Awsare \u2013 General Manager, Enterprise and Mobile<\/li>\n<\/ul>\n<p>We invite all interested parties to participate in the live webcast, which can be accessed at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=C4BlANpIZHt3qO1wbs-XRhg97zxAAA5t4PBFHO36aCb1ww_Gj3fe0sBrjwCAjDbGqlvT_IpzW7m_3_iIEIBEwJzDOH4w8th0HA2kYKlLH3ZfmbJouhnYMyPrEbVRP4pE6Di5RCmY9k9JGMV9Qvxz84451hHJjPRrgWpy1ogROKi8rLLKgrYMwT5xnSmXZn732LYaxaUe0qEfbBJPtKz9RhFd4fZewmRo2X6Fx1AQO2adH-sMEF3vyWBOiGn6Jt8wOiDVu7TnJ3o0FJte0SeQBaxvZ0ruv_9Jxw3gE7i82MjKZ92nIC4FMkAsaxO_FSgM8lD-jtHUKld-gDeZKvnOv318dKpSKZFpMA-L3ohTxHSvC7Zv35Q_W_JQ5ccFfeW04LxJGBZvbW_vPvrn6YnVG5tEA9jxAf12voL01-JSp9WpYV9_0IJdBrBe5KQX55DPsSm3tOBey0xwGH6ydedWIw==\" rel=\"nofollow noopener\" target=\"_blank\">Investor Day 2023<\/a>. (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=z2wlUXMoHfCZRKi278coWNQkMDPpD-JteebdUPJ7Nn1MSXTpYAURelMxqvZcOsaqXsZxu7siAa_lJnWB3pgoWDRCgipxOWvSaSdYW03bHxhXvHF2u1VEEGXI2EBlQEhHVTFxuD6Bhq2m1WXXdmhCcUmt_Xcs_BBrR70DonVlslB8FREk6Zx1QtxRtxbF8TnbVidWjoetlNJGQuWLn2jonEiXcAEJMov5oafb9wyZszOjlCo8fyVctIG1wYCbYyh59e46ipgQsyPEOXaj9UnXLBs3iHoPMpOrt0HB7I9ypo8UdLGpTSOGnXZ1kYc0JLxsKBBGltNoXwIUJQCWjo4ghkGraENmncMpsjHbFDpW8A5yb9oPOjhcY5Jr9R7DSFfVLLIFvjSX050gt0ZACJgwCASLMcm-hS5vYe5osWjF8QTbfgUStRQLlseYW22AO2E55LVof4niMaM8wndq1rW79VcD59IsKf8IMzSlZ1PptnRJKy03CFLiQUBEz8MwstV7\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/edge.media-server.com\/mmc\/p\/e6nnz47v<\/a>). Further, a copy of the presentation material will be available immediately prior to the event. A replay of the event will be available for approximately one year on the Investor Relations section of the company\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=z2wlUXMoHfCZRKi278coWFYCOb0D1xGl5pq8SyGRAQX-juECfcII70C4o8x9xvsbtmOoHoQo9y-e9fRh06W2Sac3gh0yOQcPkfmW2kV_9jzx5K8Wv0s0gP2-9lGTEVhq\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/investor.synaptics.com\/<\/a>.<\/p>\n<p>\n        <strong>Business Outlook<\/strong><br \/>\n        <br \/>For the first quarter of fiscal 2024, the company expects:<\/p>\n<table align=\"center\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:25%;width:25%;min-width:25%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:25%;width:25%;min-width:25%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\n            <strong>GAAP<\/strong>\n          <\/td>\n<td style=\"max-width:25%;width:25%;min-width:25%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\n            <strong>Non-GAAP Adjustment<\/strong>\n          <\/td>\n<td style=\"max-width:25%;width:25%;min-width:25%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\n            <strong>Non-GAAP<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top;vertical-align: bottom\">Revenue<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">$215M to $245M<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">N\/A<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">N\/A<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top;vertical-align: bottom\">Gross Margin*<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">43.5 percent to\u00a047.5 percent<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">$18M<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">52.0 percent to 55.0 percent<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top;vertical-align: bottom\">Operating Expense**<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">$139M to $147M<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">$42M to $47M<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">$97M to $100M<\/td>\n<\/tr>\n<\/table>\n<p>*Projected Non-GAAP gross margin excludes $17.0 million of intangible asset amortization and $1.0 million of share-based compensation.<\/p>\n<p>**Projected Non-GAAP operating expense excludes $29.0 million to $31.0 million of share-based compensation, $7.0 million to $10.0 million restructuring costs, and $6.0 million of intangible asset amortization.<\/p>\n<p>\n        <strong>About Synaptics Incorporated: <\/strong><br \/>\n        <br \/>Synaptics (Nasdaq: SYNA) is changing the way humans engage with connected devices and data, engineering exceptional experiences throughout the home, at work, in the car, and on the go. Synaptics is the partner of choice for the world\u2019s most innovative intelligent system providers who are integrating multiple experiential technologies into platforms that make our digital lives more productive, insightful, secure, and enjoyable. These customers are combining Synaptics\u2019 differentiated technologies in touch, display, and biometrics with a new generation of advanced connectivity and AI-enhanced video, vision, audio, speech, and security processing. Follow Synaptics on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=th5U2oQfXes0s5n-WjgxxqQfmw7_S0Bo5rAC_oP70JcGkXBYYISe_YyoThaLIIAT9xuGytAJ2xwvKSmwaUKvLEIeoyvQLYfDnwUhT0no6vU=\" rel=\"nofollow noopener\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=P_Kq595Eyg2fR-s6u07_p9nox3rKD_EyJQ3czPp6mlixVOwPONOzSqoDH7m7NpYBo7WxhoetCkjFdGxpFCFokw==\" rel=\"nofollow noopener\" target=\"_blank\">Twitter<\/a>, and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pSvRaSIEozipIJpQVib_i24nDyiGRn0xc40CFU174HMSUton52_k8s6ogo4SBGmMC-nkHAufujemHISgfB-SNGTuTkmFYlZeTbs367tOnuQ=\" rel=\"nofollow noopener\" target=\"_blank\">Facebook<\/a>, or visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=G6Vm8nrxKe5ZNayf2SG0KzKAdGJTF3KEKQs3ULXOfa5wHDzIlygmicbjmGSn9gggOo8whMbz1RfrbP-uh8tEaQ==\" rel=\"nofollow noopener\" target=\"_blank\">synaptics.com<\/a>.<\/p>\n<p>Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and\/or other countries. All other marks are the property of their respective owners.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong><br \/>\n        <br \/>This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business, and can be identified by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements may include words such as \u201cexpect,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cplan,\u201d \u201ctarget,\u201d \u201cstrategy,\u201d \u201ccontinue,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d variations of such words, or other words and terms of similar meaning. All forward-looking statements reflect our best judgment and are based on several factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Such factors include, but are not limited to, the risk that our business, results of operations and financial condition and prospects may be materially and adversely affected by the temporary reduction in demand for our products resulting from accumulated inventories held by our customers and channel partners; the risks as identified in the \u201cRisk Factors,\u201d \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d and \u201cBusiness\u201d sections of our most recent Annual Report on Form 10-K; and other risks as identified from time to time in our Securities and Exchange Commission reports. Forward-looking statements are based on information available to us on the date hereof, and we do not have, and expressly disclaim, any obligation to publicly release any updates or any changes in our expectations, or any change in events, conditions, or circumstances on which any forward-looking statement is based. Our actual results and the timing of certain events could differ materially from the forward-looking statements. These forward-looking statements do not reflect the potential impact of any mergers, acquisitions, or other business combinations that had not been completed as of the date of this release.<\/p>\n<p>\n        <strong>For further information, please contact:<\/strong><br \/>\n        <br \/>Munjal Shah<br \/>Synaptics <br \/>+1-408-518-7639<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3PICuNbt2NCulCl984xE-a2ow-Mn_nSbIP82tESNM_-esuNe_Cy-LHf2FJgmOrgNL-eY4U_yZxDwcDuRFcp5DAAtRaJgcy5NVGKpSzqwqSapgKwRQPfDRa5-m4Oz01x1\" rel=\"nofollow noopener\" target=\"_blank\">munjal.shah@synaptics.com<\/a><\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxNzkwNCM1ODAxMzIzIzIwMTEyMzM=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MjVmMzc3MjktMjExMy00MjE2LTlmMzYtMDQ0M2YxMDhlZTNhLTEwMjI4MDY=\/tiny\/Synaptics-Incorporated.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SAN JOSE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) &#8212; Synaptics Incorporated (Nasdaq: SYNA) today reiterated its previous guidance for the first quarter of fiscal 2024 that was issued on August 3, 2023. As previously announced, the company will host a Financial Analyst &amp; Investor Day today at The Yale Club in New York City from 2:00pm to 5:00pm ET. At the event, the company will discuss its long-term strategy, product portfolio and growth opportunities in the IoT markets. Presentations will be made by the following members of the executive team followed by a live Q&amp;A session: Michael Hurlston \u2013 President and Chief Executive Officer Dean Butler \u2013 Chief Financial Officer Venkat Kodavati \u2013 General Manager, Wireless Products Vikram Gupta \u2013 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-782561","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN JOSE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) &#8212; Synaptics Incorporated (Nasdaq: SYNA) today reiterated its previous guidance for the first quarter of fiscal 2024 that was issued on August 3, 2023. As previously announced, the company will host a Financial Analyst &amp; Investor Day today at The Yale Club in New York City from 2:00pm to 5:00pm ET. At the event, the company will discuss its long-term strategy, product portfolio and growth opportunities in the IoT markets. Presentations will be made by the following members of the executive team followed by a live Q&amp;A session: Michael Hurlston \u2013 President and Chief Executive Officer Dean Butler \u2013 Chief Financial Officer Venkat Kodavati \u2013 General Manager, Wireless Products Vikram Gupta \u2013 &hellip; Continue reading &quot;Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-07T18:31:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxNzkwNCM1ODAxMzIzIzIwMTEyMzM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation\",\"datePublished\":\"2023-09-07T18:31:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\\\/\"},\"wordCount\":756,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODkxNzkwNCM1ODAxMzIzIzIwMTEyMzM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\\\/\",\"name\":\"Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/synaptics-reaffirms-fiscal-q1-2024-guidance-ahead-of-investor-day-presentation\/","og_locale":"en_US","og_type":"article","og_title":"Synaptics Reaffirms Fiscal Q1 2024 Guidance Ahead of Investor Day Presentation - Market Newsdesk","og_description":"SAN JOSE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) &#8212; Synaptics Incorporated (Nasdaq: SYNA) today reiterated its previous guidance for the first quarter of fiscal 2024 that was issued on August 3, 2023. As previously announced, the company will host a Financial Analyst &amp; Investor Day today at The Yale Club in New York City from 2:00pm to 5:00pm ET. At the event, the company will discuss its long-term strategy, product portfolio and growth opportunities in the IoT markets. 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