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Synaptics profit misses consensus by 57.6% in fiscal Q2

Synaptics Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 67 cents per share, compared with the S&P Capital IQ consensus estimate of $1.57 per share.

EPS increased 83.5% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $25.1 million, an increase of 81.1% from $13.9 million in the prior-year period.

The normalized profit margin rose to 5.3% from 3.0% in the year-earlier period.

Total revenue climbed year over year to $470.5 million from $463.7 million, and total operating expenses decreased year over year to $429.5 million from $440.8 million.

Reported net income increased 66.9% on an annual basis to $35.1 million, or 93 cents per share, from $21.0 million, or 55 cents per share.