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Fabrinet: Fiscal 3Q Earnings Snapshot

GEORGE TOWN, Cayman Islands (AP) _ Fabrinet (FN) on Monday reported fiscal third-quarter net income of $21.1 million.

The George Town, Cayman Islands-based company said it had profit of 55 cents per share. Earnings, adjusted for non-recurring costs, were 71 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 71 cents per share.

The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $332.2 million in the period.

For the current quarter ending in June, Fabrinet expects its per-share earnings to range from 73 cents to 77 cents.

The company said it expects revenue in the range of $334 million to $342 million for the fiscal fourth quarter.

Fabrinet shares have increased 15 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $33, a rise of roughly 1 percent 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