Synaptics sees Q2 revenue $220M-$250M, consensus $245.29M

Sees Q2 gross margin 52%-54%. Sees Q2 operating expense $94M-$98M. Dean Butler, CFO of Synaptics, added, “Our total channel inventories continued to decline in the December quarter and we anticipate a significant topline revenue increase for our Core IoT products in the coming quarter. While some products are beginning to return to growth, others are still suffering from prolonged inventory accumulation, declines in demand, and seasonal effects. As a result, we expect the company’s consolidated March quarter revenue to be flat relative to the December quarter. Synaptics generates strong positive cash flows and maintains a healthy balance sheet, enabling us to continually invest in our technology roadmaps.”