Shares of Synaptics Incorporated (NASDAQ: SYNA), a developer and supplier of custom-designed human interface solutions that allow people to interact with a range of mobile computing, communications, entertainment and other electronic devices, have skyrocketed in early trading today after the company reported its second-quarter financial results.
For the second quarter ended December 31, 2012, SYNA reported net revenue of $143 million, compared to $145.5 million reported for the same period in the previous year. The company’s net income for the quarter was $11.1 million, or $0.33 per share, compared to $17.4 million, or $0.51 per share reported for the same period in the previous year. Non-GAAP net income for the quarter was $17.7 million, or $0.53 per share, compared to $23 million, or $0.68 per share reported for the same period in the previous year.
SYNA shares rose to a high of $39.75 in early trading today before paring some of the gains. At last check, the stock was trading 17.05% higher at $38.10 on above average volume of 1.75 million.
Shares of Select Comfort Corp. (NASDAQ: SCSS), a bed manufacturer and retailer, have plunged in early trading today after the company’s fourth-quarter results missed estimates.
For the fourth quarter ended December 29, 2012, SCSS reported net sales of $221 million, representing an increase of 17% over the same period in the previous year. Company-controlled comparable sales for the quarter rose 11%. Operating income for the quarter fell 3% to $19.4 million.
SCSS reported net income of $0.22 per share for the fourth quarter, compared to $0.27 per share reported for the same period in the previous year. Analysts were expecting the Minneapolis, Minnesota-based company to report earnings of $0.32 per share. The company expects full year 2013 earnings per share to be between $1.65 and $1.80, which is significantly below the Street estimates of $1.90.
SCSS shares fell to an intra-day low of $22.57 in early trading today as investors digested weaker-than-expected quarterly earnings and outlook. At last check, the stock was trading 18.69% higher at $22.93 on above average volume of 3.83 million.
Shares of QLogic Corporation (NASDAQ: QLGC), a designer and supplier of network infrastructure products that provide and manage computer data communication, are seeing a huge rally in trading today after the company reported its third-quarter financial results.
For the third quarter ended December 30, 2012, the Aliso Viejo, California-based company reported net revenue of $119.4 million. The company’s GAAP income from continuing operations for the quarter was $13.7 million, or $0.15 per share. On a non-GAAP basis, the company’s income from continuing operations was $18.3 million, or $0.20 per share.
Simon Biddiscombe, President and CEO of QLogic, said that during the December quarter, the company reported financial results that exceeded its expectations.
Following the strong quarterly results, QLGC shares rose to an intra-day high of $12.90 in early trading today. At last check, the stock was trading 16.08% higher at $12.56 on above average volume of 2.70 million.
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