WASHINGTON (dpa-AFX) - Shares of Synaptics Inc. (SYNA) surged more than 14 percent in extended trade on Tuesday after lifting its fourth-quarter outlook, citing higher-than-expected revenues from mobile products.
Santa Clara, California-based Synaptics' now expect fourth-quarter revenues of $227 million to $230 million, up from its prior outlook of $190 million to $205 million. Analysts polled by Thomson Reuters currently expect revenues of $198.15 million for the quarter.
The company expects gross margin for the quarter to be about 50 percent.
The touchscreen technology company said revenues from mobile products were higher-than-expected, reflecting strong demand from a broad range of leading-edge designs across multiple mobile customers.
The company is scheduled to release its fourth quarter results on August 1, 2013.
SYNA closed Tuesday's regular trade at $35.87, up $0.72 or 2.05%, on the Nasdaq. The stock further gained $5.20 or 14.50% in after-hours trade.
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