Fabrinet's 4Q revenue exceeds guidance
Fabrinet's fourth quarter revenue of USD 509.6 million exceeds guidance. The company ends a 'record year' with a revenue of USD 1.88 billion.
Seamus Grady, Chief Executive Officer of Fabrinet, said, “We had a strong finish to a record year with revenue and profitability that exceeded our guidance ranges. Demand trends across our business continue to be healthy, with particular fourth quarter strength from the telecom market. With efficient execution, we delivered excellent operating margins during the fourth quarter, which helped propel operating income and net income to record levels for fiscal year 2021.” Revenue for the fourth quarter of fiscal year 2021 was USD 509.6 million, compared to USD 405.1 million for the fourth quarter of fiscal year 2020. GAAP net income for the fourth quarter of fiscal year 2021 was USD 42.4 million, compared to GAAP net income of USD 28.0 million for the fourth quarter of fiscal year 2020. . Business Outlook Based on information available as of August 16, 2021, Fabrinet is issuing guidance for its first fiscal year 2022 quarter ending September 24, 2021, as follows:
- Fabrinet expects first quarter revenue to be in the range of USD 510 to 530 million.
- GAAP net income per diluted share is expected to be in the range of USD 1.08 to 1.15.