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© roza dreamstime.com PCB | August 16, 2016

34 percent revenue increase for Fabrinet in 4Q/2016

"Strong revenue growth of 34 percent exceeded our expectations for the fourth quarter", states Tom Mitchell, CEO of Fabrinet
"These results capped a year of significant growth for Fabrinet, which was driven by a combination of momentum in the optical industry, growing contributions from new customers, and increasing demand for our advanced packaging and precision assembly capabilities. We believe that we are in a strong position to serve the industry’s growth as we scale our Fabrinet West New Product Introduction facility and complete construction of the first building at our new campus in Thailand. As a result of these factors, we are entering fiscal 2017 with optimism, as reflected in our guidance for the first quarter”, he continues.

Fourth Quarter Fiscal-Year 2016 Financial Highlights (GAAP results)
  • Revenue was USD 276.4 million for 4Q/2016, an increase of 34 percent compared to total revenue of USD 206.5 million for 4Q/2015.
  • GAAP net income for 4Q/2016 was USD 19.7 million, compared to GAAP net income of USD 13.0 million in 4Q/2015.
  • GAAP net income per diluted share for 4Q/2016 was USD 0.53, compared to GAAP net income per diluted share of USD 0.36 in 4Q/2015.

Fiscal-Year 2016 Financial Highlights (GAAP results)
  • Revenue was USD 976.7 million for fiscal year 2016, an increase of 26 percent compared to total revenue of USD 773.6 million for fiscal year 2015.
  • GAAP net income for fiscal year 2016 was USD 61.9 million, compared to GAAP net income of USD 43.6 million in fiscal year 2015.
  • GAAP net income per diluted share for fiscal year 2016 was USD 1.68, compared to GAAP net income per diluted share of USD 1.21 in fiscal year 2015.

Business Outlook

Based on information available as of August 15, 2016, Fabrinet is issuing guidance for the first quarter of fiscal 2017 ending September 30, 2016, as follows:
  • Fabrinet expects first quarter revenue to be in the range of USD 306 to 310 million.
  • GAAP net income per diluted share is expected to be in the range of USD 0.62 to 0.64, based on approximately 37.6 million fully diluted shares outstanding.

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