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Synaptics slumps on sales outlook for current qtr

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October 25, 2013 05:47 PM EST | AP


NEW YORK (AP) — Shares of Synaptics dropped Friday after the company, a maker of touch-screen technology, issued a guidance that disappointed Wall Street.

Synaptics said Thursday after markets closed that it expects $192 million to $208 million in revenue in its fiscal second quarter, which runs through December. FactSet said analysts expect $207.3 million, on average.

Synaptics shares fell $8.22, or 15.5 percent, to $44.82 on Friday. The shares have nearly doubled in the past 12 months.