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Fabrinet: Fiscal 1Q Earnings Snapshot

·1 min read

GEORGE TOWN, Cayman Islands (AP) _ Fabrinet (FN) on Monday reported fiscal first-quarter earnings of $33.1 million.

The George Town, Cayman Islands-based company said it had profit of 88 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.05 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $436.6 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $422.6 million.

For the current quarter ending in January, Fabrinet expects its per-share earnings to range from $1 to $1.07.

The company said it expects revenue in the range of $420 million to $440 million for the fiscal second quarter.

Fabrinet shares have declined almost 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $61.18, a climb of almost 9% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FN at https://www.zacks.com/ap/FN