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Earnings Review and Free Research Report: Fabrinet’s Revenue Surged 34%; Adjusted EPS Soared 43.33%

Research Desk Line-up: Universal Electronics Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 1, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Fabrinet (NYSE: FN), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FN, following the Company's announcement of its fourth quarter fiscal 2017 financial results on August 21, 2017. The Company, which assembles optical, electro-mechanical, and electronic devices, outperformed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Electronic Equipment industry. Pro-TD has currently selected Universal Electronics Inc. (NASDAQ: UEIC) for due-diligence and potential coverage as the Company reported on August 03, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Universal Electronics when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FN; also brushing on UEIC. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

Fabrinet's revenue was $370.5 million for the fourth quarter of fiscal year 2017, an increase of 34% compared to revenue of $276.4 million for Q4 FY16. The Company's revenue surpassed analysts' expectations of $363.7 million. Fabrinet's revenue was $1.4 billion for fiscal year 2017, an increase of 45% compared to total revenue of $976.7 million for fiscal year 2016.

For Q4 FY17, Fabrinet recorded GAAP net income of $27.4 million compared to GAAP net income of $19.7 million for Q4 FY16. The Company's GAAP net income per diluted share for the reported quarter totaled $0.72 compared to GAAP net income per diluted share of $0.53 for the year ago same period.

Fabrinet's non-GAAP net income was $32.8 million for Q4 FY17, reflecting an increase of 46% compared to non-GAAP net income of $22.4 million for Q4 FY16. The Company's non-GAAP net income per diluted share for the reported quarter was $0.86, an increase from non-GAAP net income per diluted share of $0.60 for the year earlier quarter. Fabrinet's earnings results exceeded Wall Street's expectations of $0.83 per share.

Fabrinet's GAAP net income was $97.1 million for FY17 compared to GAAP net income of $61.9 million for FY16. GAAP net income per diluted share was $2.57 for the reported period compared to GAAP net income per diluted share of $1.68 for the year ago corresponding period.

Fabrinet reported non-GAAP net income of $127.4 million for FY17, an increase of 64% compared to non-GAAP net income of $77.7 million for FY16. The Company's non-GAAP net income per diluted share for the reported period was $3.37, an increase from non-GAAP net income per diluted share of $2.11 for fiscal year 2016.

Business Outlook

Fabrinet is issuing guidance for the first quarter of fiscal year 2018 ending September 29, 2017. The Company is expecting Q1 FY18 revenue to be in the range of $356 million to $360 million. Fabrinet is projecting GAAP net income per diluted share to be in the band of $0.60 to $0.62, based on approximately 38.2 million fully diluted shares outstanding.

Non-GAAP net income per diluted share is expected to be in the range of $0.78 to $0.80, based on approximately 38.2 million fully diluted shares outstanding.

Share Repurchase Program Authorized

Fabrinet also announced that its Board of Directors has approved a share repurchase program to permit the Company to repurchase up to $30.0 million worth of its issued and outstanding ordinary shares in the open market in accordance with applicable rules and regulations, at such time and such prices as management may decide. The repurchased shares will be held as treasury stock.

Stock Performance

On Thursday, August 31, 2017, the stock closed the trading session at $38.84, marginally down 0.66% from its previous closing price of $39.10. A total volume of 339.13 thousand shares have exchanged hands. Fabrinet's stock price advanced 2.51% in the last three months and 0.05% in the previous twelve months. The stock is trading at a PE ratio of 15.12. At Thursday's closing price, the stock's net capitalization stands at $1.48 billion.

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SOURCE: Pro-Trader Daily