Fabrinet Q2 revenues up 24% YoY

Tom Mitchell, Chief Executive Officer of Fabrinet, said, "We delivered a strong second quarter with record revenue and strong profitability. Upside in the quarter was driven by a combination of growth from new customer programs and increasing production from existing customer programs, as we benefit from technology investments that we continue to make. While we have sufficient capacity to meet our growing customer demand for several quarters, construction of the first new building at our new campus outside Bangkok is underway, which will help drive further profitable growth over the longer-term." Revenue was USD 233.0 million for the second quarter of fiscal year 2016, an increase of 24% compared to total revenue of USD 188.4 million for the comparable period in fiscal year 2015. GAAP net income for the second quarter of fiscal year 2016 was USD 19.8 million, compared to GAAP net income of USD 8.7 million in the second quarter of fiscal year 2015.