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Fabrinet: Fiscal 4Q Earnings Snapshot

GEORGE TOWN, Cayman Islands (AP) _ Fabrinet (FN) on Monday reported fiscal fourth-quarter earnings of $33 million.

The George Town, Cayman Islands-based company said it had net income of 88 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1 per share.

The results exceeded 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 $405.1 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $400.4 million.

For the year, the company reported profit of $121 million, or $3.23 per share. Revenue was reported as $1.58 billion.

For the current quarter ending in October, Fabrinet expects its per-share earnings to range from 80 cents to 84 cents.

The company said it expects revenue in the range of $386 million to $394 million for the fiscal first quarter.

Fabrinet shares have increased almost 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $56.40, a rise of 29% 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