U.S. Markets open in 4 hrs 29 mins

Fabrinet: Fiscal 2Q Earnings Snapshot

GEORGE TOWN, Cayman Islands (AP) _ Fabrinet (FN) on Monday reported fiscal second-quarter net income of $31.2 million.

The George Town, Cayman Islands-based company said it had profit of 83 cents per share. Earnings, adjusted for stock option expense and amortization costs, were $1 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $426.2 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $413.5 million.

For the current quarter ending in April, Fabrinet expects its per-share earnings to range from 92 cents to 95 cents.

Fabrinet shares have fallen nearly 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $63.72, an increase of 12% in the last 12 months.


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