Ad
Ad
Ad
Ad
Ad
Ad
Electronics Production | August 16, 2011

Fabrinet reported 47% revenue increase for fiscal 2011

For fiscal year 2011 (ended June 24, 2011), Fabrinet reported total revenue of USD 743.6 million, an increase of 47% compared to revenue of USD 505.7 million for fiscal year 2010.
Fabrinet reported total revenue of USD 190.3 million for the fourth quarter of fiscal 2011, an increase of 21% compared to revenue of USD 157.4 million for the comparable period in fiscal 2010. GAAP net income in the fourth quarter was USD 16.7 million, or USD 0.48 per diluted share, an increase of 23% compared to GAAP net income of USD 13.6 million, or USD 0.43 per diluted share, in the fourth quarter of 2010. Non-GAAP net income in the fourth quarter was USD 17.5 million, or USD 0.50 per diluted share, an increase of 27% compared to non-GAAP net income of USD 13.7 million, or USD 0.44 per diluted share, in the fourth quarter of 2010.

For fiscal year 2011 (ended June 24, 2011), Fabrinet reported total revenue of USD 743.6 million, an increase of 47% compared to revenue of USD 505.7 million for fiscal year 2010. GAAP net income in fiscal 2011 was USD 64.3 million, or USD 1.87 per diluted share, an increase of 45% compared to GAAP net income of USD 44.3 million, or USD 1.41 per diluted share in fiscal 2010. Non-GAAP net income in fiscal 2011 was USD 68.8 million, or USD 1.99 per diluted share, an increase of 53% compared to non-GAAP net income of USD 45.0 million, or USD 1.43 per share, in fiscal 2010.

Tom Mitchell, Chief Executive Officer of Fabrinet, said, “We are pleased to have achieved record fiscal year results, our 46th consecutive quarter of profitability and results which exceeded our guidance. Our customer relationships remain strong and we are witnessing robust levels of new project activity. The net result is that we have continuing confidence in our ability to penetrate these growing market opportunities, and to deliver profitable results.”

Business Outlook

Based on information available as of August 15, 2011, Fabrinet is issuing guidance for the first quarter of fiscal 2012 as follows:

The company expects first quarter revenue to be in the range of USD 173 - 178 million. GAAP net income per share is expected to be in the range of USD 0.39 - 0.41 with expected non-GAAP net income per share of USD 0.41 - 0.43, based on approximately 34.5 million fully diluted shares outstanding.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Ad
Ad
Load more news
October 15 2018 11:56 pm V11.6.0-2