Synaptics Inc., a leader in human interface solutions, today announced it has completed its acquisition of Validity Sensors, Inc on November 7, 2013. Expansion into the fingerprint identification market, with the acquisition of a world class Validity team that delivers industry-leading solutions, is an integral part of Synaptics' growth strategy as it immediately expands the depth and breadth of solutions available to its global partners.
The latest design win with Google further underscores Synaptics's growing leadership in the mobile market and our commitment to forging strong partnerships across the mobile ecosystem to deliver groundbreaking, marketleading touchscreen technologies.
As an investor, Synaptics shows outstanding growth. In the first quarter of 2014, the company reported revenue of $222.6 million, which is an amazing 75% increase over $127 million for the same quarter last year. Synaptics reported that 73% of revenue reported was due to mobile product sales, which was up 152% year-over-year.
Considering our backlog of approximately $117.0 million entering the typically front-end loaded December quarter, customer forecasts, and the resulting expected product mix, we anticipate revenue (exclusive of the impending closure of the acquisition of Validity) to be in the range of $192.0 million to $208.0 million for the second quarter, an increase of 34% to 45% on a year-over-year basis.