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© stevanovicigor dreamstime.com PCB | August 27, 2015

Fabrinet with 29 percent revenue inxrease in 4Q/2015

Fabrinet reported total revenue of $206.5 million for the fourth quarter of fiscal year 2015, its highest quarterly revenue to-date and an increase of 29% compared to total revenue of $160.1 million for the comparable period in fiscal year 2014.
GAAP net income for the fourth quarter of fiscal year 2015 was $13.0 million, or $0.36 per diluted share, compared to GAAP net income of $10.3 million, or $0.29 per diluted share, in the fourth quarter of fiscal year 2014. Non-GAAP net income in the fourth quarter of fiscal 2015 was $14.5 million, or $0.40 per diluted share, an increase of 20% compared to non-GAAP net income of $12.1 million, or $0.34 per diluted share, in the same period a year ago.

For fiscal year 2015, Fabrinet reported total revenue of $773.6 million, an increase of 14% compared to total revenue of $677.9 million for fiscal year 2014. GAAP net income for fiscal year 2015 was $43.6 million, or $1.21 per diluted share, compared to GAAP net income of $91.7 million, or $2.58 per diluted share, in fiscal year 2014. GAAP net income in fiscal 2014 was positively impacted by $44.0 million, or $1.24 per diluted share, due to the collection of insurance proceeds. Non-GAAP net income in fiscal year 2015 was $56.4 million, or $1.57 per diluted share, an increase of 3% compared to non-GAAP net income of $54.6 million, or $1.53 per diluted share, in fiscal year 2014.

Tom Mitchell, Chief Executive Officer of Fabrinet, said, "We ended fiscal 2015 on a strong note with record revenue and growth across all our market segments. As we start fiscal 2016, I am confident that our initiatives to expand our new product introduction and advanced packaging capabilities, combined with our focus on total customer satisfaction and world-class quality will enable us to deliver another year of profitable growth in fiscal 2016."

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