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Fabrinet Announces Third Quarter Fiscal Year 2024 Financial Results

  • 2024/5/8 14:40:52

　　Exceeds Guidance Ranges with Record Revenue and Net Income Per Share

　　BANGKOK--(BUSINESS WIRE)--May 6, 2024--Fabrinet(NYSE: FN), a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, today announced its financial results for its third fiscal quarter endedMarch 29, 2024.

　　Seamus Grady, Chief executive Officer ofFabrinet, said, “We delivered strong results in the quarter, exceeding both our revenue and EPS guidance. Our results were driven by record datacom revenue from continued demand for high-data-rate products, and sequential growth in telecom revenue, primarily from datacenter interconnect products. Looking to the fourth quarter, we anticipate continued strength in datacom and sequential growth in automotive. Despite ongoing inventory absorption of traditional telecom products, we remain well-positioned to deliver another strong overall performance and further advance our leadership position.”

　　Third Quarter Fiscal Year 2024 Financial Highlights

　　GAAP Results

　　Revenue for the third quarter of fiscal year 2024 was $731.5 million, compared to$665.3 million for the third quarter of fiscal year 2023.

　　GAAP net income for the third quarter of fiscal year 2024 was $80.9 million, compared to $59.4 million for the third quarter of fiscal year 2023.

　　GAAP net income per diluted share for the third quarter of fiscal year 2024 was $2.21, compared to $1.60 for the third quarter of fiscal year 2023.

　　Non-GAAP Results

　　Non-GAAP net income for the third quarter of fiscal year 2024 was $87.7 million, compared to $71.8 million for the third quarter of fiscal year 2023.

　　Non-GAAP net income per diluted share for the third quarter of fiscal year 2024 was $2.39, compared to $1.94 for the third quarter of fiscal year 2023.

　　Business Outlook

　　Based on information available as ofMay 6, 2024,Fabrinetis issuing guidance for its fourth fiscal quarter endingJune 28, 2024, as follows:

　　Fabrinet expects fourth quarter revenue to be in the range of $720 million to $740 million.

　　GAAP net income per diluted share is expected to be in the range of $2.01 to $2.08, based on approximately 36.5 million fully diluted shares outstanding.

　　Non-GAAP net income per diluted share is expected to be in the range of $2.20 to $2.27, based on approximately 36.5 million fully diluted shares outstanding.

　　Guidance for non-GAAP net income per diluted share excludes share-based compensation expenses and certain non-recurring items. A reconciliation of non-GAAP net income per diluted share to the corresponding GAAP measure is available at the end of this press release.

　　AboutFabrinet

　　Fabrinetis a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and subsystems, automotive components, medical devices, industrial lasers and sensors.Fabrinetoffers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly and testing.Fabrinetfocuses on production of high complexity products in any mix and any volume.Fabrinetmaintains engineering and manufacturing resources and facilities inThailand,the United States of America, the People’sRepublic of China, andIsrael. For more information visit: www.fabrinet.com.

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