May 08, 2012

Fabrinet profit, revenue falls

Fabrinet yesterday announced its financial results for the third quarter of fiscal 2012, ended March 30, 2012.

Fabrinet reported total revenue of 139.0 million USD (106 million eur0) for the third quarter of fiscal 2012, a decrease of 28.7% compared to revenue of $194.9 million for the comparable period in fiscal 2011.

GAAP net loss in the third quarter was $(46.3) million, or $(1.35) per diluted share compared to GAAP net income of $16.7 million, or $0.49 per diluted share in the third quarter of 2011. Non-GAAP net income in the third quarter was $9.9 million, or $0.28 per diluted share, a decrease of 48.0% compared to non-GAAP net income of $19.0 million, or $0.55 per share in the third quarter of 2011.

Tom Mitchell, Chief Executive Officer of Fabrinet, said, “I am pleased to report that through the continued hard work and dedication of our staff, we remain on a strong recovery path. We are excited that building 6 is complete and fully available for customers. Despite the recent flooding, we continue to win new business and customer confidence in our value proposition remains solid.”

The company expects fourth quarter revenue to be in the range of $139 million to $143 million for the fourth quarter of fiscal 2012.
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