Fabrinet ups revenue by 13 percent YoY
Fabrinet reported total revenue of USD 189.5 million for 3Q/2015, an increase of 13 percent compared to total revenue of USD 167.7 million for the comparable period in fiscal 2014.
GAAP net income for the third quarter of fiscal 2015 was USD 10.8 million, compared to GAAP net income of USD 47.7 million in 3Q/2014. GAAP net income for the third quarter of fiscal 2014 was positively impacted by USD 38.2 million, due to the collection of final insurance proceeds.
Tom Mitchell, Chief Executive Officer of Fabrinet, said, “Our third quarter results were solid, with revenue and EPS ahead of our expectations. Our initiatives to expand our new product introduction and advanced packaging capabilities are well underway and we are on track to ship our first products from our new west coast facility in the current quarter.”
Fabrinet expects fourth quarter revenue to be in the range of USD 195 million to 199 million. GAAP net income per share is expected to be in the range of USD 0.33 to 0.35 with expected non-GAAP net income per share of USD 0.37 to 0.39, based on approximately 36 million fully diluted shares outstanding.