Synaptics Inc. (NASDAQ:SYNA) Q4 2019 Earnings Conference Call - Final Transcript

Aug 08, 2019 • 05:00 pm ET


Synaptics Inc. (NASDAQ:SYNA) Q4 2019 Earnings Conference Call - Final Transcript


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Good day, everyone, and welcome to the Synaptics Fourth Quarter Fiscal Year 2019 Conference Call. [Operator Instructions]

And now it's my pleasure to turn the conference over to Jason Tsai. Jason?

Jason Tsai

Good afternoon, and thank you for joining us today on Synaptics' fourth quarter fiscal 2019 conference call. My name is Jason Tsai, and I am the head of Investor Relations at Synaptics. With me on today's call are Kermit Nolan, our Interim CFO and Chief Accounting Officer; and Saleel Awsare, Senior Vice President and General Manager of our IoT Division, Corporate Marketing and Investor Relations.

This call is also being broadcast live over the web and can be accessed from our Investor Relations section of the website at In addition to a supplemental slide presentation, we have also posted a copy of these prepared remarks on our Investor Relations website. Supplementary slides have also been furnished as an exhibit to our current report on Form 8-K filed with the SEC earlier today, and add additional color on our financial result.

In addition to the company's GAAP results, management will also provide supplementary results on a non-GAAP basis, which excludes share-based compensation, acquisition-related costs and certain other noncash or recurring or nonrecurring items. Please refer to the press release issued after market close today for a detailed reconciliation of GAAP and non-GAAP results.

Additionally, we would like to remind you that during the course of this conference call, Synaptics will make forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. Although Synaptics believes our estimates and assumptions to be reasonable, they are subject to a number of risks and uncertainties beyond our control and may prove to be inaccurate. Synaptics cautions that actual results may differ materially from any future performance suggested in the company's forward-looking statements.

We refer you to the company's current and periodic reports filed with the SEC, including the Synaptics Form 10-K for the fiscal year ended June 30, 2018, for important risk factors that could cause actual results to differ materially from those contained in any forward-looking statement. Synaptics expressly disclaims any obligation to update this forward-looking information.

I will now turn the call over to Saleel Awsare. Saleel?

Saleel Awsare

Thanks, Jason, and I would like to welcome everyone to today's call. I'm happy to be speaking to you today on behalf of the Board and on [Phonetic] Executive Leadership Committee. As I'm sure you saw earlier this week, we announced the appointment of Michael Hurlston as our new President and CEO and he's expected to start August 19. He will join Synaptics Board on the date of his appointment. We are happy to welcome Michael as he brings with him a wealth of experience in semiconductors, especially in markets that we are focused on and has a strong track record in delivering results. We believe that Michael will be a great cultural fit for the company and look forward to