Fabrinet: Fiscal 3Q Earnings Snapshot

GEORGE TOWN, Cayman Islands (AP) _ Fabrinet (FN) on Monday reported fiscal third-quarter earnings of $28.6 million.

On a per-share basis, the George Town, Cayman Islands-based company said it had net income of 76 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 92 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.

The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $399 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $389.8 million.

For the current quarter ending in June, Fabrinet expects its per-share earnings to range from 92 cents to 96 cents.

The company said it expects revenue in the range of $396 million to $404 million for the fiscal fourth quarter.

Fabrinet shares have risen 17% since the beginning of the year. The stock has increased 85% 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