$SYNA
SYNAPTICS Inc

2017 Q4 Form 10-Q Financial Statement

#000156459018001689 Filed on February 08, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $430.4M $461.3M
YoY Change -6.7% -1.96%
Cost Of Revenue $315.2M $322.6M
YoY Change -2.29% 5.67%
Gross Profit $115.2M $138.7M
YoY Change -16.94% -16.04%
Gross Profit Margin 26.77% 30.07%
Selling, General & Admin $37.40M $32.30M
YoY Change 15.79% -21.22%
% of Gross Profit 32.47% 23.29%
Research & Development $92.20M $73.50M
YoY Change 25.44% -6.49%
% of Gross Profit 80.03% 52.99%
Depreciation & Amortization $32.00M $22.50M
YoY Change 42.22% -14.77%
% of Gross Profit 27.78% 16.22%
Operating Expenses $139.2M $108.2M
YoY Change 28.65% -9.76%
Operating Profit -$24.00M $30.50M
YoY Change -178.69% -32.67%
Interest Expense -$4.700M $600.0K
YoY Change -883.33% -175.0%
% of Operating Profit 1.97%
Other Income/Expense, Net -$4.700M $600.0K
YoY Change -883.33% -175.0%
Pretax Income -$28.70M $29.40M
YoY Change -197.62% -33.93%
Income Tax $53.30M $6.600M
% Of Pretax Income 22.45%
Net Earnings -$82.40M $22.80M
YoY Change -461.4% -34.86%
Net Earnings / Revenue -19.14% 4.94%
Basic Earnings Per Share -$2.42
Diluted Earnings Per Share -$2.42 $635.1K
COMMON SHARES
Basic Shares Outstanding 34.90M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $252.2M $347.2M
YoY Change -27.36% -6.67%
Cash & Equivalents $252.2M $347.2M
Short-Term Investments
Other Short-Term Assets $18.30M $38.60M
YoY Change -52.59% -17.34%
Inventory $140.6M $159.7M
Prepaid Expenses
Receivables $236.4M $259.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $647.5M $805.2M
YoY Change -19.59% -9.76%
LONG-TERM ASSETS
Property, Plant & Equipment $118.8M $115.1M
YoY Change 3.21% -0.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.90M $46.30M
YoY Change -13.82% 27.55%
Total Long-Term Assets $790.5M $497.3M
YoY Change 58.96% -11.35%
TOTAL ASSETS
Total Short-Term Assets $647.5M $805.2M
Total Long-Term Assets $790.5M $497.3M
Total Assets $1.438B $1.303B
YoY Change 10.4% -10.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.7M $168.7M
YoY Change -29.05% 1.26%
Accrued Expenses $124.0M $127.1M
YoY Change -2.44% 5.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $15.00M
YoY Change -100.0% 0.0%
Total Short-Term Liabilities $274.6M $328.9M
YoY Change -16.51% -17.38%
LONG-TERM LIABILITIES
Long-Term Debt $442.2M $209.7M
YoY Change 110.87% -6.26%
Other Long-Term Liabilities $28.20M $19.40M
YoY Change 45.36% -53.7%
Total Long-Term Liabilities $28.20M $229.1M
YoY Change -87.69% -13.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $274.6M $328.9M
Total Long-Term Liabilities $28.20M $229.1M
Total Liabilities $752.8M $562.2M
YoY Change 33.9% -18.46%
SHAREHOLDERS EQUITY
Retained Earnings $621.6M
YoY Change
Common Stock $1.136B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.074B
YoY Change
Treasury Stock Shares
Shareholders Equity $685.2M $740.3M
YoY Change
Total Liabilities & Shareholders Equity $1.438B $1.303B
YoY Change 10.4% -10.38%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income -$82.40M $22.80M
YoY Change -461.4% -34.86%
Depreciation, Depletion And Amortization $32.00M $22.50M
YoY Change 42.22% -14.77%
Cash From Operating Activities $63.40M $52.40M
YoY Change 20.99% -44.55%
INVESTING ACTIVITIES
Capital Expenditures -$15.80M -$14.60M
YoY Change 8.22% 180.77%
Acquisitions
YoY Change
Other Investing Activities $900.0K $6.000M
YoY Change -85.0%
Cash From Investing Activities -$14.90M -$8.600M
YoY Change 73.26% 65.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.000M 4.400M
YoY Change -9.09% -46.34%
NET CHANGE
Cash From Operating Activities 63.40M 52.40M
Cash From Investing Activities -14.90M -8.600M
Cash From Financing Activities 4.000M 4.400M
Net Change In Cash 52.50M 48.20M
YoY Change 8.92% -50.56%
FREE CASH FLOW
Cash From Operating Activities $63.40M $52.40M
Capital Expenditures -$15.80M -$14.60M
Free Cash Flow $79.20M $67.00M
YoY Change 18.21% -32.8%

Facts In Submission

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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, allowance for doubtful accounts, cost of revenue, inventories, loss on purchase commitments, product warranty, accrued liabilities, share-based compensation costs, provision for income taxes, deferred income tax asset valuation allowances, uncertain tax positions, goodwill, intangible assets, investments, contingent consideration liability and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. </p></div>
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8700000
syna Percentage Of Voting Capital Stock Of Certain Foreign Subsidiaries Collateralized
PercentageOfVotingCapitalStockOfCertainForeignSubsidiariesCollateralized
0.65
CY2017Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17800000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30200000
CY2017Q4 syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
-1300000
CY2016Q4 syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
4300000
syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
2700000
syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
8000000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2490168
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
61825
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
85126
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
79653
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2387214
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1943715
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
49.20
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
45.32
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
27.85
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
67.02
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
46.64
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
14000000
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
14000000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017Q4 syna Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
46500000
syna Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
46500000
syna Tax Cuts And Jobs Act Of2017 Change In Tax Rate Discrete Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateDiscreteIncomeTaxExpenseBenefit
54400000
syna Tax Cuts And Jobs Act Of2017 Change In Tax Rate Non Discrete Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateNonDiscreteIncomeTaxExpenseBenefit
-7900000
syna Tax Cuts And Jobs Act Of2017 Change In Tax Rate Impact Of Annual Effective Tax Rate
TaxCutsAndJobsActOf2017ChangeInTaxRateImpactOfAnnualEffectiveTaxRate
0.126
CY2017Q4 syna Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability Discrete Tax Provision
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiabilityDiscreteTaxProvision
5100000
us-gaap Income Tax Reconciliation Tax Credits Foreign
IncomeTaxReconciliationTaxCreditsForeign
49300000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
18000000
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15200000
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2800000
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1300000
syna Increase In Unrecognized Tax Benefit Income Tax Penalties And Interest Accrued
IncreaseInUnrecognizedTaxBenefitIncomeTaxPenaltiesAndInterestAccrued
100000
us-gaap Cumulative Effect On Retained Earnings Tax1
CumulativeEffectOnRetainedEarningsTax1
8300000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
syna Number Of Product Categories
NumberOfProductCategories
3

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